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RE: eMedia Signs lululemon athletica, August 8, 2007
TSX Venture: EMM
VANCOUVER, Aug. 10 /CNW/ - Under the terms of the contract, eMedia will supply lululemon athletica's retail stores with customized foreground music via its proprietary eMplayer-Live platform. Based on lululemon athletica's anticipated growth projections following their successful initial public offering on July 27, 2007, this contract is worth approximately $100,000 in revenue to eMedia over the 36-month term, and over $50,000 of recurring annual revenue should lululemon athletica choose to retain eMedia's services after July 30, 2010.
This contract is another example of a retailer adopting eMedia's industry-leading technology. Through its sophisticated and proprietary music and network-ready platform, eMedia has been providing the most reliable and cost effective in-store music systems to North American retail stores for more than 8 years.
About eMedia Networks
eMedia Networks is Canada's leading supplier of licensed background (or "in store") music played in public spaces. eMedia's client base includes many national retail and restaurant chains including lululemon athletica, Bata Limited, Roots Canada, Le Chateau, Body Shop and International Clothiers. Background music consists of CD quality artist recordings that are played in retail and restaurant establishments and other public venues to enhance and define a client's brand image and as a sales enhancement tool. The Company has annual recurring revenue of about 1.5 million dollars and issued shares totaling 21,610,895.
On behalf of the Board of Directors
(signed)
Darren Reiter
CEO
(signed)
Jasvir Athwal
President & CFO
The TSX Venture Exchange (or any other regulatory authority body) has not
reviewed the foregoing and therefore does not accept responsibility for
the adequacy or accuracy of this release.
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Disclaimer: this news release may contain certain "forward-looking"
statements." All statements, other than statements of historical fact,
included herein are forward-looking statements that involve various risks
and uncertainties. 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. Important factors
that could cause actual results to differ materially from the Company's
expectations are disclosed in the Company's documents filed from time to
time with the TSX Venture Exchange and the British Columbia Securities
Commission.
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