MiMedia Announces Market Launch with América Móvil Subsidiary Telcel

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MiMedia

Oct 31, 2022, 08:15 ET

NEW YORK, Oct. 31, 2022 /CNW/ - MiMedia Holdings Ltd. (TSXV: MIM) ("MiMedia", "Company") is pleased to announce that MiMedia has successfully integrated and launched in market with Telcel Radiomovil Dipsa, S.A. de C.V. ("Telcel"), the largest telecom carrier in Mexico and one of the largest carriers in Latin America. 

Telcel is the largest subsidiary of parent company América Móvil, which is the largest telecom carrier in Latin America and the fourth largest in the world in 2022 in terms of number of subscribers.1 In its RTO filing statement, MiMedia previously announced that the Company signed a global Distribution Agreement (the "Agreement") with Telcel.

Since 1989, Telcel has been the leading telecommunications and value-added services company in Mexico. Mexico represents América Móvil's largest market in terms of users, with Telcel covering more than 95% of the population and servicing more than 80 million users2. Mexico is also where America Móvil bases its global headquarters. 

Founded by Carlos Slim, América Móvil is the leading integrated telecommunications services company in Latin America with leading market presence in 23 countries in the Americas and Europe under its primary brands Telcel and Claro, among others. In 2021, América Móvil reported over 287 million wireless subscribers globally and $41.6 Billion USD in revenue.3 Telcel accounted for $12.2 Billion USD or 29% of América Móvil's total revenue in 2021 via its wireless segment.4

MiMedia is a next generation consumer cloud platform that partners with smartphone makers and telecom carriers globally to provide their consumers with a unique personal cloud experience that enables all types of personal media to be secured in the cloud, accessed seamlessly, across all devices and operating systems and at any time.    

MiMedia's plan will be to download its platform directly onto 2 million Telcel smartphones in Mexico. The Company's consumer cloud platform will provide Telcel with a churn-reducing product, immediate market differentiation and multiple high-margin and recurring revenue streams.

"We are thrilled to launch with market leader Telcel and provide its users in Mexico with our next generation consumer cloud, superior media experience for their priceless personal content and the important value proposition of the cloud that our platform uniquely delivers. To partner, integrate and successfully launch with such an important telecom carrier represents a significant accomplishment for a company of our size. This launch is our first in the large, growing and strategic market of Latin America and also our first partnership with a telecom carrier. We are excited to accomplish both these milestones with the continent's largest telecom carrier and one the world's largest as well", said Chris Giordano, CEO of MiMedia.

About TELCEL: Telcel is a Mexican wireless telecommunications company, owned by América Móvil. Founded in 1984 and based in Mexico City, Telcel is the leading provider of wireless communications services in Mexico. Telcel's cellular network covers more than 90% of the geographical area of Mexico, including all major cities, and 95% of Mexico's population. Telcel holds concessions to operate a wireless network in all nine geographic regions in Mexico. Telcel is the largest wireless carrier in Mexico, with more than 80 million subscribers.5

About America Movil: América Móvil is the leading provider of integrated telecommunications services in Latin America. Excluding China and India, it is the largest company in terms of wireless subscribers. Through the development of a world-class integrated telecommunications platform, it offers customers a portfolio of value-added services and enhanced communications solutions in 23 countries in Latin America, Central and Eastern Europe. America Móvil intends to build on its position as a leader in integrated telecommunications services in Latin America and the Caribbean, and to grow in other parts of the world by continuing to expand its subscriber base through the development of its existing businesses and strategic acquisitions when opportunities arise. It has developed world-class integrated telecommunications platforms to offer our customers new services and enhanced communications solutions with higher data speed transmissions at lower prices.

About MiMedia: MiMedia Holdings Inc provides a next-generation consumer cloud platform that enables all types of personal media to be secured in the cloud, accessed seamlessly at any time, across all devices and on all operating systems.The company's platform differentiates with its rich media experience, robust organization tools, private sharing capabilities and features that drive content re-engagement. MiMedia partners with smartphone makers and telecom carriers globally and provides its partners with recurring revenue streams, improved customer retention and market differentiation. The platform services millions of engaged users around the world.

Notice regarding forward-looking statements: This release includes forward-looking statements regarding MiMedia, and their respective businesses, which may include, but is not limited to, statements with respect to the completion of a Transaction, appointment or any other decision made by the business. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations of the management of MiMedia. The for-ward-looking events and circumstances discussed in this release, may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including risks regarding the MiMedia industry, failure to obtain regulatory or shareholder approvals, economic factors, the equity markets generally and risks associated with growth and competition. Although MiMedia have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and MiMedia undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

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