MeeMee Media Inc. (OTCQB:MEME) Announces Approval of Share Cancellation
LOS ANGELES, Dec. 19, 2013 /CNW/ - MeeMee Media Inc. (the "Company" or "MeeMee") (OTCQB: MEME), a development stage company focused on the global digital media business, today announced, that its board of directors will approve the cancellation of 16,000,000, or approximately 48% of its shares outstanding upon consummation of the transactions contemplated by a share purchase agreement that it is currently negotiating with one of Latin America's leading mobile content companies. The shares are held by 2251442 Ontario Inc. ("Ontario Inc."). Ubequity Capital Partners Inc., the sole shareholder of Ontario Inc., has agreed to the cancellation.
About MeeMee Media Inc: Headquartered in Los Angeles, CA, MeeMee intends to use the Latin American mobile platform as a launch pad for building a US based global-scale digital entertainment, advertising and marketing enterprise. MeeMee's development strategy combines organic growth initiatives with targeted acquisitions in strategic markets and industry verticals around the world with a current focus on opportunities in the Americas.
Forward-Looking Statements. This press release contains "forward-looking statements." These forward-looking statements are identified by, among other things, the words "anticipates", "believes", "intends", "expects", "plans", "projects", "thinks" and similar expressions. Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by us in the reports we file with the Securities and Exchange Commission, including the risk factors that affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Additionally, the completion of our planned acquisition is subject to numerous conditions, many of which are outside of our control. We cannot provide any assurances that the Company will be able to complete the acquisition. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
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