Live Current Media Signs LOI to Acquire San Diego Based Contextual Intelligence Company, Total Communicator Solutions

SAN DIEGO, CA / ACCESSWIRE / June 12, 2023 / Live Current Media, Inc. ("Live Current" or the "Company") (OTCQB:LIVC) announces that it has signed a letter of intent (the "LOI") to acquire Total Communicator Solutions Inc. ("TCS") (dba Spark Compass ®), of San Diego in an all-stock transaction.

About TCS

TCS has developed, Spark Compass ®, an Augmented Intelligent Communication Platform that creates real-time, personalized experiences that drive engagement and loyalty- delivers "Data with a Purpose™" enabling real-world operating systems. It's patented and award winning technology transforms how brands and venues connect with people, using data and context to deliver the right message, to the right person, at the right time, on the right channel. Spark Compass ® has delivered its platform to a variety of clients, including the newly announced activation of the Chula Vista Elite Athletic Training Center, a USA Olympic Training Site. TCS has a substantial pipeline with multiple contracts totaling $18MM and LOIs in place for an additional $17MM. The patent protected platform is endorsed by client partners including Google Cloud, AWS and IBM as well as system integrator giants including CGI, HCL and Atos.

Erik Bjontegard, the CEO of TCS, brings valuable expertise as the inventor and patent holder of the Spark Compass ® platform and a former Qualcomm R&D executive. His background in ubiquitous computing, mobile technology and the R&D industry positions him well to lead the development and implementation of the next-generation Spark Compass ® platform.

The LOI

Pursuant to the terms of the LOI, the parties intend to sign a definitive agreement by July 27^th, 2023. Conditions precedent to signing of a definitive agreement include completing due diligence by both parties, any shareholder approvals required and TCS completing an audit of its books. Final terms of the transaction will be disclosed upon signing of the definitive agreement.

Management and Directors

At the closing, the current board of directors of Live Current will resign and a new board will be appointed that will include Mark Ollila, Erik Bjontegard, Heidi Steiger, two directors nominated by Heidi Steiger and two directors nominated by Erik Bjontegard representing TCS. Erik Bjontegard will become President and Mark Ollila will continue as CEO.

"This acquisition will speed up the growth of Live Current immensely as we continue to build a unified platform that ties creators, audiences, fans, brands and businesses together," said Live Current CEO Mark Ollila. "Mr. Bjontegard and his team have put together a fantastic product in a rapidly growing sector that is almost certain to increase in popularity. His experience from launching VR platforms such as Vuforia and location beacon platforms such as Gimbal when he was in Corporate Development at Qualcomm will prove invaluable as we move into this world of AI and contextual intelligence."