TORONTO, ON--(Marketwired - October 19, 2016) - Keek (TSX VENTURE: KEK) (OTCQB: KEEKF) today announced that it has amended the existing Technology Platform Licensing Agreement (the "Agreement") with Personas.com Corporation ("Personas"). Personas is a subsidiary of Riavera Corp., a significant shareholder of Keek. The Agreement formed the foundation for the product initiative "Peeks", a live-streaming service currently available for download in the iOS and Android app stores.
The Agreement, entered into in August 2015, granted Personas a non-exclusive license to use and enhance Keek's existing technology platforms to facilitate monetary transactions between users as well as between users and merchants. Pursuant to the original Agreement, Personas was to pay Keek a licensing fee equal to 10% of the gross revenue earned through the use of Keek's platform. Following the amendment, Keek will receive 30% of the gross revenue earned through the use of Keek's platform. In addition, Keek will obtain access to certain proprietary payment processing technology for use in existing and future ventures, under the same amended terms.
Keek also announced that further to its press release dated September 22, 2016, the Peeks service will be consolidated with the Keek apps on or before November 1, 2016. For additional information on the Peeks service, please see the Company's press releases dated April 15, 2016, and September 22, 2016, available on the Company's profile at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.
Forward looking statements:
The information and statements in this news release contain certain forward-looking information relating to the implementation, timing, and replacement of the Keek services with the Peeks live-streaming services. The information and statements in this news release also contain certain forward-looking information relating to the use of licensed third party payment processing technology as part of existing and future ventures and opportunities for Keek, some of which are not yet operational. This forward-looking information is subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking information. Keek's forward-looking information is expressly qualified in its entirety by this cautionary statement. Except as required by law, Keek undertakes no obligation to publicly update or revise any forward-looking information.