October 28, 2008
Live Current Media Retains Leading Investment Bank Arbor Advisors to Sell Six Non-Core Domain Names
Live Current Media Inc. (OTCBB:LIVC), a media company built around content and commerce destinations, announced today that it has entered into an agreement with Palo Alto-based Arbor Advisors, LLC to sell six of its non-core but highly valuable dot-com domain names from the Company's portfolio of more than 800 domains.
Live Current expects to market the domain names for an aggregate amount of $6 million to $10 million and anticipates negotiating transactions for the sale of some or all of the six domain names within 90 days.Geoffrey Hampson, Chief Executive Officer, Live Current, stated, "The strategic value of premium top-level domain names has remained strong despite the difficult environment and we believe that it is a prudent time to sell some of our non-core domain names as a non-dilutive form of financing to fund the growth of our health & beauty and sports media businesses. Management also intends to exploit the opportunities afforded it by continuing to develop either directly or through partnerships our remaining highly prized top-level domain names."
Lou Doctor, Managing Director, Arbor Advisors, said, "We are excited to work closely with Live Current Media to find strategic buyers for six of their highly valuable but non-core domain names. Live Current has a truly world-class portfolio of top-level domain names and even in these turbulent times the demand for such domain names remains strong."
About Live Current Media Inc.
Live Current builds, owns and operates some of the most powerful and engaging content and commerce destinations on the Internet, such as www.perfume.com and www.cricket.com. 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 OTCBB (LIVC). For more information, visit www.livecurrent.com.
About Arbor Advisors LLC
Founded in 2001, Arbor Advisors provides corporate finance and advisory services for growing and profitable mid-market companies. The Arbor Principals have operating and transactional backgrounds, which drive our "hands on" and comprehensive approach to advising clients. Based in Palo Alto, CA, Arbor Advisors is a broker dealer owned by its Principals. For more information, visit www.arboradvisors.com.
Certain statements contained in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act 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 the Company'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.