Liquid Media Announces the Sale of Wholly Owned Subsidiary IndieFlix Group

Jun 17, 2023

VANCOUVER, British Columbia, June 16, 2023 (GLOBE NEWSWIRE) -- Liquid Media Group Ltd. (the “Company”) (Nasdaq: YVR) announces today the sale of its wholly-owned subsidiary IndieFlix Group for an aggregate purchase price of US$1.2M. The purchase price was paid in the form of a ten-year promissory note bearing interest at 6.0%. Payments under the promissory note commences 18 months from issuance with 10% of the IndieFlix Group’s gross monthly revenues payable as received to be applied to such payments, with all unpaid and outstanding principal amount, if any, due on the maturity date. The promissory note is secured by all of the shares of IndieFlix Group.

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