VANCOUVER, BC / November 5th, 2021 / YDX Innovation Corp (TSXV:YDX)(OTC PINK:YDRMF)(FSE:APY1) (“YDX” or the “Company”) would like to provide an update in connection with ongoing initiatives of the Company and previously announced proposed transaction.
YDreams Global and Hasbro Partnership
In August, a strategic partnership was signed between YDreams Global (“YDreams”), a subsidiary of YDX and market leader in immersive exhibitions, and Hasbro, a leading global play and entertainment company.
With the partnership, YDreams secured license rights to create and produce interactive and immersive playgrounds for the brands: Peppa Pig, PJ Masks, and Play-Doh. Combining world-class design, immersive storytelling, and technology, the combined efforts of Hasbro and YDreams will bring unique and highly innovative projects to the Brazilian market.
Karina Israel, CEO of YDreams Global stated: “This partnership with Hasbro is a milestone for YDreams, which has been working for 2 decades with immersive spaces for children and families. Peppa Pig, PJ Masks, and Play-Doh bring amazing content to produce interactive spaces and are brands loved by children and associated with the highest quality. The result of this partnership will raise the bar for children’s attractions in our country.”
“We are very excited about continuing our relationship with YDreams and delivering great family entertainment to shopping malls throughout Brazil utilizing our beloved brands and characters. We believe that our brands, coupled with YDreams experience, will create high quality and immersive experiences driving guests to visit these malls over and over again”, said Sandra Home, Senior Manager, Location Based Entertainment at Hasbro.
These projects are designed to meet the changing needs of shopping mall networks by creating attractive spaces that connect to the new generation of shoppers, offering spaces not only visually impactful but also highly experiential, interactive, and very entertaining.
With offices in Rio de Janeiro and São Paulo, YDreams Global has executed projects in more than 30 countries, designing projects of international quality and developed experiences for exhibitions and museums in countries such as Russia, Spain, and Portugal. In Brazil, the company launched its first interactive exhibition in 2011, about F1 driver and Brazilian idol Ayrton Senna. Since then, the company has gained visibility with hugely successful projects of public and media such as Tarsila for Children, Landscapes of van Gogh, Niemeyer Life and Work, Mondrian for Children, among others.
Proposed Reverse Takeover and Cease Trade Order
The Company announced, by Press Release dated March 16, 2021, that it had entered a non-binding Letter of Intent (the “LOI”) with Moshun Media Development Corp. (“Moshun”), a non-reporting issuer in British Columbia, with respect to a proposed business combination transaction that would result in the reverse take-over of YDX by Moshun (the “RTO Transaction”). Certain conditions under the LOI, including the execution of a definitive agreement regarding the RTO Transaction, have not been met and, as such, the LOI has expired. However, negotiations in connection with the RTO Transaction are on-going between YDX and Moshun, as the parties continue to rationalize the anticipated post-transaction business operations of the resulting issuer. Additionally, the Company was suspended from trading due to a Cease Trade Order issued by the British Columbia Securities Commission on May 7, 2021, due to the Company’s failure to make timely disclosure in accordance with provincial securities regulation. The Company is presently working to remedy these deficiencies in order to resume trading as soon as possible.
About YDX Innovation
YDX Innovation Corp. (TSXV:YDX :: www.ydxinnovation.com) is a global leader in the commercialization of immersive new technologies that incorporate virtual reality, augmented reality, esports and gaming. Its core business seeks to monetize through licensing its IP, developing interactive exhibitions and through esports tournaments and content.
Arkave VR Arena – https://sales.arkavevr.com/ – is a proprietary gaming platform that brings location-based virtual reality to any location-based event or entertainment centre. Arkave features state-of-the-art free roam technology coupled with a vast library of both in-house and third-party games.
YDreams Global – www.ydreamsglobal.com – has developed over 2,000 interactive and immersive experiences for some of the largest global brands including Disney, NBA, Adidas, Cisco, Nokia, Nike, Mercedes-Benz, Coca-Cola, Santander, AB InBev, Qualcomm, Unilever, Fiat and the City of Rio de Janeiro.
RENDER – www.render.gg – Render is a professional video production studio specializing in crafting video content for YouTubers, Streamers, Teams and Brands. Render is highly specialized in gaming content, but also works with a wide variety of digital media.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
This news release may contain “forward-looking statements” within the meaning of applicable Canadian securities laws, including, without limitation: execution of a Definitive Agreement, any potential Financing and the successful closing of the RTO Transaction. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. The Company’s statements expressed or implied by these forward-looking statements are subject to a number of risks, uncertainties, and conditions, many of which are outside of the Company’s control, and undue reliance should not be placed on such statements. Forward-looking statements are qualified in their entirety by the inherent risks and uncertainties including that the Company’s assumptions in making forward-looking statements may prove to be incorrect; general adverse market conditions and competition; the inability to finance operations and/or obtain any future strategic investment necessary to implement new technologies; the inability to build a sustainable, conscientious company with a stronger presence online through new products in esports and VR; the inability to bring Virtual Reality to consumers directly and offer expertise in immersive technologies; and that market conditions related to the COVID-19 pandemic may negatively affect the outcome of the business or operations of the Company, including its results and financial condition. Except as required by securities law, the Company does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.