LOS ANGELES, CA--(Marketwired - Nov 13, 2017) - Innovativ Media Group, Inc. (OTC PINK: INMG) ("Company"), a multi-media content producer and distributor, today announced that it has acquired http://localcannabisdispensary.com, an ad supported and subscription based directory and search engine for over 500 cannabis dispensaries and stores, which will be exclusively available on CannaNet.TV http://www.cannanet.tv/ scheduled to launch on November 28, 2017.
The Company acquired the business from Total Sports Media, Inc. in exchange for the issuance of restricted shares of the Company's common stock.
Tom Coleman, CEO of Innovativ Media, said: "This is a significant and logical purchase for us and it represents the kind of diverse content we intend to be making available on the CannaNet.TV platform. Our primary objective is to expose under-served brands and advertisers within the cannabis community to our worldwide audience of enthusiasts. We believe that http://www.localcannabisdispensary.com has the potential to build a 'Yelp' like community in the sector."
About Innovativ Media Group, Inc.
Innovativ Media Group (Innovativ) is a developer, producer and distributor of digital entertainment and other multi-media content which is developing the CannaNet Channels. It distributes the motion picture assets of Lux Digital Pictures and, via New Broadway Cinema, develops adaptations of stage shows utilizing its trademarked DigiTheater™ Virtual Reality process. Innovativ also operates The Alien Interview Channel on YouTube in partnership with Fullscreen, the online channel HPLovecraft.TV and is a principal in the Film Finance Exchange. http://innovativmedia.com
This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward‐looking public statements concerning its expected future operations, performance and other developments. Such forward‐looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such.