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ION VIDEO LTD — Capital/Financing Update 2023
Apr 5, 2023
65133_rns_2023-04-05_288dc415-5f5e-4349-b0e3-515dfa1aea88.pdf
Capital/Financing Update
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ASX Announcement | 6 April 2023
Clarification of Inverleigh Media Expansion Announcement
Melbourne, Australia – 6 April 2023: Linius Technologies Limited (ASX: LNU) (Linius or Company) wishes to clarify its announcement made to the ASX earlier today regarding the expansion of its commercial agreement with Intrepid Productions by Inverleigh Pty ( Inverleigh Media or Inverleigh ).
The first deployment and agreement with Inverleigh Media, announced 24 March 2023, included a commercial and operational mechanism allowing Inverleigh to add additional content archives from their end customers into the Linius Whizzard solution.
As stated in the announcement earlier today, Inverleigh has now signed an expansion of that master agreement to include an additional archive within the Linius Whizzard solution. The significance of this expansion is that it demonstrates Inverleigh’s confidence in the Whizzard solution and the value that it offers for additional archives. The expansion further demonstrates the efficiency and effectiveness of the master agreement construct in enabling expansion opportunities. The size of the new archive is material, with approximately 10,000 hours of professional and amateur sports content.
The expansion includes an additional fixed setup fee, additional monthly licence subscription, and potential additional usage-based fees. All fees are paid to Linius by Inverleigh. Usage fees are dependent upon the amount of content Inverleigh makes available within Whizzard from this particular sports archive.
This announcement has been authorised for release to ASX by the Linius Board of Directors.
About Linius Technologies Limited:
Linius’ purpose is to unlock the value of the world’s video, creating immersive, deeply personalized viewing experiences. For the first time, we make it possible to find, curate, and utilize the valuable moments across vast libraries of video, enabling viewers to create an infinite amount of personalised video compilations on-the-fly, providing the most relevant content to each viewer.
Our patented Video Virtualisation Engine™ (VVE) turns big, bulky video files into lightweight, searchable data that is enriched with AI and ML, making it easy and efficient for users to find and share what matters to them. Creators and owners of video can drive greater viewing, and monetisation of their video assets.
For more on Linius Technologies, visit www.linius.com
For further information, please contact: James Brennan, CEO, +61 (0)3 8672 7186 or [email protected]
Follow Linius at: LinkedIn Twitter Facebook YouTube
Linius Technologies Limited (ASX: LNU) ACN 149 796 332 Level 2, 431 St Kilda Road, Melbourne VIC 3004 Australia t: +61 3 8672 7186 / e: [email protected]