Wowio Inc. to Form Wholly-Owner Subsidiary in Vancouver, Canada
WOWIO North, Inc. will pool talent and content for development, production and transmedia distribution
WEST HOLLYWOOD, CA, October 9, 2014 - Wowio, Inc. (OTCBB:WWIO), a technology development and digital media company with a patented process and a proprietary mobile ad-delivery platform for eBooks, announced today that it plans to form a new subsidiary company based in Vancouver, Canada, tentatively called Wowio North, Inc. The newly formed entity will enable Wowio to form a digital media production company to access resources from the publishing, film and television, and web industries, while taking advantage of Canadian tax credits for publishing and production projects.
WOWIO’s CEO Brian Altounian commented. “We believe the new business will be an extension of our core mission to increase revenues based on the development of distribution platforms for digital content. We are committed to growing our Canadian business thereby maximizing the business’s flexibility when it comes to international content. The scalability of the new subsidiary could result in an excellent return on investment, which would be good for all the shareholders of the Company.”
“The Canadian government and the Provincial governments have created incentive programs for all creative industries, which builds a solid high-quality talent pool, spurs economic growth and just makes good business sense,” added Altounian. “In British Columbia alone, there are programs and incentives for the book publishing, interactive and digital media industries along with music, motion pictures and television. As we strive to build our business and asset base, we can look to take advantage of the economics of doing business in such a progressive location. In addition to our headquarters in the vibrant entertainment capital that is Los Angeles, we anticipate that Vancouver, Canada will be a welcoming and prosperous home for Wowio North.”
About WOWIO, Inc.
WOWIO, Inc., (OTCBB:WWIO) is a technology development company with a patented process and a proprietary mobile ad-delivery platform that will disrupt the eBook distribution landscape by exploiting a previously untapped marketplace: ad-supported eBooks! Our exclusive ownership of an issued patent that governs this opportunity allows us to expand our reach as a digital media company far beyond producing and distributing content across multiple platforms. WOWIO has built and acquired a number of digital media technologies, platforms and distribution outlets and is focusing its efforts on opportunities to create and monetize ancillary content product lines beyond eBooks and other forms of digital media. To learn more about WOWIO, please visit our corporate website at http://www.studiowdigital.com.
Corporate contact: Shareholder Inquiries:
Jacob Morris Tom Becker
(310) 807-8122 (702) 445-7038
jmorris@wowio.com ir@wowio.com
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