VANCOUVER, March 18, 2014 /PRNewswire/ - Destiny Media Technologies (TSXV: DSY) (OTCQX: DSNY) announces that it has entered into a three year investor relations agreement (the “Investor Relations Agreement”) with Three Part Advisors, LLC (“Three Part Advisors”) whereby Three Part Advisors will increase awareness of Destiny Media Technologies in the investment community, will coordinate Destiny Media Technologies’ investor relations activities and communicate the investment merits of Destiny Media Technologies through its relationships with institutional investors, brokers, and analysts. In addition to providing investor relations consulting services, Three Part Advisors also produces the IDEAS Conferences, an annual independent regional investor conference that attract more than 100 quality presenting companies and more than 800 investors and analysts annually.
Under the Investor Relations Agreement, Destiny Media Technologies has agreed to pay a monthly fee of $4,900 and issue options to purchase 120,000 common shares of Destiny Media Technologies at a price of $1.70 per share. 40,000 options will vest annually for each of the next three years. The options are subject to the terms and conditions of Destiny Media Technologies stock option plan and the policies of the TSX Venture Exchange. The Investor Relations Agreement, which is subject to the approval of the TSX Venture Exchange, is for a period of 36 months. Either party may terminate the Investor Relations Agreement on providing 30 days’ notice at the end of each 12 month period.
Three Part Advisors is a capital markets advisory firm that provides investor relations, independent research and corporate development consulting services.
The appointment of Three Part Advisors and the Investor Relations Agreement is subject to the approval of the TSX Venture Exchange.
Destiny Media Technologies provides services that enable content owners to securely display and distribute their audio and video content digitally through the internet. The Company's two major services are Clipstream and Play MPE®. Clipstream (www.clipstream.com) is a video format that plays on any modern smart phone, tablet, internet, TV, or computer. With Clipstream, there is no player to configure or install, videos never go obsolete, and there are up to 90% cost savings by reducing the use of transcoding, infrastructure and bandwidth. Play MPE (www.plaympe.com) provides a standardized method to securely and cost effectively distribute pre-release music to radio stations and other music industry professionals, before it is ready for sale. More information can be found at www.dsny.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as "expects," “intends”, "estimates," "projects," "anticipates," "believes," "could," and other similar words. All statements addressing product performance, events, or developments that Destiny Media Technologies, Inc. expects or anticipates will occur in the future are forward-looking statements. Because the statements are forward-looking, they should be evaluated in light of important risk factors and uncertainties. Should one or more of these risks or uncertainties materialize, or should any of Destiny Media Technologies, Inc.’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. Except as required by law, Destiny Media Technologies, Inc. disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
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 Destiny Media Technologies, Inc.