Toronto, Ontario, Sept. 29, 2017 (GLOBE NEWSWIRE) -- Luminar Media Group, Inc., (Luminar, OTCMKTS: LRGR) is announcing that The Jenex Corporation (TSXV: JEN.H) ("Jenex”) has terminated the license agreement signed on October 31, 2016. Luminar elected not make additional payments outlined in the license agreement which resulted in the termination by Jenex.
Luminar CEO, Chris Cook commented;
“Luminar regrets that termination of the agreement with Jenex. As the technology moves closer to commercialization, Jenex and Luminar may consider a non-exclusive agreement in the future. We believe identifying near terms revenue opportunities for both Luminar and our wholly owned subsidiary Big Data Media will better serve our shareholders.”
About Luminar:
Luminar Media Group has extensive knowledge and experience in the media, marketing and entertainment industries. The company was started by entrepreneurs who can identify new tools to communicate with a target audience. At Luminar, we embrace the challenge of the constantly evolving business landscape and our determined culture will develop solutions that evolve with the changing business paradigm.
Forward-Looking Statements
This news release contains forward-looking statements about our business, or financial condition and prospects, that reflect our assumptions and beliefs based on information currently available. The Company can give no assurance that the expectations indicated by such forward-looking statements will be realized. There may be other risks and circumstances that we are unable to predict. When used in this news release, words such as "believes," "expects," "intends," "plans," "anticipates," "estimates" and similar expressions are intended to identify forward-looking statements, although there may be certain forward-looking statements not accompanied by such expressions. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including risks discussed in the company's periodic reports that are filed with the Securities and Exchange Commission and available on its website ( www.sec.gov ). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.
Investors should refer to the risk factors disclosure outlined in our periodic reports filed from time-to-time with the Securities and Exchange Commission.
Luminar Media Group Investor Relations Email: info@luminarinc.com Website: http://www.luminarinc.com/ Source: Luminar Media Group, Inc.
