Live Current Media Inc. completed the acquisition of Guru, Inc.
November 22, 2022
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Live Current Media Inc. (OTCPK:LIVC) signed a non-binding letter of intent to acquire Guru, Inc. for $0.6 million on May 19, 2022. Live Current Media Inc. (OTCPK:LIVC) entered into agreement to acquire Guru, Inc. on November 23, 2022. Concurrently with the signing of the definitive agreement Live Current will issue 3 million shares to the current shareholders of Guru for all their issued and outstanding shares. It is the intention of the parties to sign a definitive agreement within 90 days of signing of the LOI. Conditions precedent to signing of a definitive agreement include: Both parties submitting to and completing due diligence investigations; both parties obtaining any shareholder approval required; Board approval required of Guru and Live current; Guru providing the most recent two fiscal years of audited financial statements. Guru and Live Current Media Board have approved the agreement. Guru will become a subsidiary of Live Current. As part of the transaction certain key Guru employees will be joining the Live Current team, including Suzie Dergham (Guru's CEO). Ms. Dergham will be reporting directly to Mark Ollila, CEO of Live Current. Edgar Tirado of Dottir LLC acted as legal advisor to Live Current Media, Inc.
Live Current Media Inc. (OTCPK:LIVC) completed the acquisition of Guru, Inc. on November 23, 2022.
Live Current Media, Inc. is a media technology company involved in the creator economy. The Company is engaged in operating the social video streaming application, Kast. Kast is a virtual living room where friends gather to watch movies and play games. The Company acquires and integrates technologies that automate key processes in content and community creation, bringing together businesses and technologies to provide an end-to-end resource for creators who do not have a meaningful piece of the creator economy. Its platform features a set of creative tools and community-building technologies that power video community creation, augmented reality and virtual reality (AR and VR) discovery, social media amplification, personal and business brand management, sponsorship, and alternative revenue creation for the global creative community. The Companyâs ecosystem helps creators manage the four pillars of independent creativity: creation, amplification, participation, and monetization.
LIVE CURRENT MEDIA, INC. 
