Communicate.com Inc. to Change Name to Live Current Media Inc. and Enters into Strategic Acquisition of Auctomatic.New Media Company Developing Content and Commerce Destinations VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- Communicate.com Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : CMNN) today announced it is now operating as "Live Current Media Inc." pending shareholder approval later this year. A new media company built around content and commerce destinations, Live Current will turn its impressive set of premium properties into independent thriving businesses. In its first move, today it entered into a definitive agreement to acquire Auctomatic - an early stage start-up funded by, among other investors, Y Combinator
LLC - Logical Link Control . Auctomatic has developed commerce technology and tools that enable sellers to easily transact online through sites such as eBay. The proposed acquisition is subject to customary closing conditions and is expected to close in May of this year. "Live Current's properties combined with the foundational capabilities Auctomatic brings to the company enables us to deliver on our strategy of providing the next evolution of consumer Internet experiences," said Geoffrey Hampson, Live Current CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "We own some of the most popular names on the Internet which we will turn into destination sites for consumers globally." The pending acquisition of Auctomatic is an opportunity for Live Current to rapidly grow its technology and product development capabilities, social and widget Pronounced "wih-jit," for decades, the term has been a popular word for a generic "thing" when there is no real name for it. It is often used to describe examples of made-up products along with other fictitious names; for example, "10 widgets, 5 frabbits and 2 dingits. network experience and entrepreneurial mindedness that gels with Live Current's new identity. Live Current will apply Auctomatic's commerce technology to Perfume.com and other commerce destinations. All individuals from Auctomatic will be joining Live Current in connection with the proposed acquisition, including founders Kulveer Taggar, Harjeet Taggar and Patrick Collison. In addition to Y Combinator and other investors, Auctomatic was funded by Chris Sacca and Paul Buchheit Paul Buchheit is an American computer programmer and entrepreneur. He was the creator and lead developer of Gmail, which anticipated many aspects of Web 2.0, including the idea of Ajax, long before that term was coined. . With the Live Current team in place, the company is focused on building its premium properties into engaging destination sites, to be monetized through advertising revenue as well as commerce transactions. Live Current's focus will be to integrate all aspects of the ways in which consumers interact with the Internet today, including mobile, into these DestinationHubs[TM], enabling users to discover more and get closer to the information they are passionate about in their daily lives. The company will focus initially on building these DestinationHubs[TM] within the categories of travel, sports and health & beauty. About Live Current Communicate.com Inc. is doing business as "Live Current Media Inc." and will seek formal shareholder approval to change its legal name to Live Current Media Inc. later in 2008. Live Current builds, owns and operates some of the most powerful and engaging content and commerce destinations on the Internet. Through subject-specific DestinationHubs[TM], Live Current properties connect people to each other and to the information, brands, and products they are passionate about. Live Current has headquarters in Vancouver, Canada with a location in Seattle, WA and is publicly traded on the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). OTCBB (CMNN). For more information, visit www.livecurrent.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. : Certain statements contained in this press release may constitute "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Although Live Current Media Inc. believes the expectations reflected in such forward-looking statements are based on reasonable assumptions; it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include financial performance, regulatory changes, changes in economic conditions and other risks detailed from time to time in Live Current's filings with the U.S. Securities and Exchange Commission. The forward-looking statements included in this press release represent the Company's views as of the date of this press release. The Company does not undertake any obligation to update any forward-looking statements, and readers are cautioned not to place undue reliance on these forward-looking statements. |
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