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Evermount Ventures Inc. (the " Company ") (TSXV: ETV.H), is pleased to announce that Video Commerce Group Limited (" OOOOO "), the acquisition target of the Company's qualifying transaction, has partnered with e-commerce giant B2W Companhia Digital (" B2W "), for the launch of OOOOO's technology and platform in Brazil .
Brazil based B2W provides a complete e-commerce marketplace connecting customers with sellers and suppliers through various brands, including:Â Americanas.com, the largest Brazilian online store with millions of products available in more than 40 categories; Â Submarino, a digital brand in books, games, technology and entertainment; and Shoptime, the largest home shopping channel in Latin America and a specialist in live product demonstration broadcasts.
Pursuant to the partnership agreement, OOOOO's platform will be integrated within the complete B2W ecosystem, including an app to be launched in Brazil this month. The partnership agreement provides for B2W's exclusive use of OOOOO's technology and platform in Brazil , while also providing for the possibility of forming a joint-venture between the parties for the continuous development of operations in the country. The partnership agreement has an initial term of one year, subject to renewal upon agreement by the parties.
OOOOO co-founder and CEO Sam Jones stated: "We could not be more pleased with this partnership.   Through this agreement, our application will become available to a whole new audience in a major world market well outside our home base in the United Kingdom. B2W's market reach in Brazil , coupled with the broad spectrum of products it sells and its expert capabilities in logistics and fulfillment, make it a great fit for our first international partnership. We look forward to bringing the live commerce model to Brazil with B2W".
Forward Looking Information
Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: its ability to complete a Qualifying Transaction, its expectations for Video Commerce's future business and operations, including the success of its partnership agreement with B2W, the execution of a joint venture with B2W and the successful execution of future joint ventures in international markets,  and other risks and uncertainties, including those described in the Company other disclosure documents filed with the Canadian Securities Administrators and available on www.sedar.com . Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE Evermount Ventures Inc.
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