AMPD CEO Provides Corporate Update and Outlook for Q1 2020
(MENAFN - EQS Group) VANCOUVER, BC / ACCESSWIRE / January 17, 2020 / AMPD Ventures Inc. ("AMPD" or the "Company")(CNSX:AMPD.CN)(FRA:2Q0), on the morning after the Company held an official launch event for its first operational data centre, DC1, is providing its second quarterly update on progress since the Company's listing on October 17th, 2019, as well as some glimpses into what lies ahead for the Company in this first quarter of 2020.
AMPD specializes in providing high-performance computing and cloud solutions for next-generation applications including big data analysis and visualization, animation and visual effects rendering, multiplayer video games including eSports, artificial intelligence, mixed reality, and high-level academic research.
DATA CENTRE 1 (DC1) PROJECT UPDATE
Initial client contract signings for DC1 have now been completed, most notably including a previously announced multi-year deal with the Emmy Award®-winning animation studio, Bardel Entertainment ("Bardel"). Bardel is expected to utilize the AMPD Remote Render Service housed inside DC1 to render animated television and movie content such as the popular Cartoon Network series, Rick and Morty. Other previously announced deals include the high-performance hosting of the Digital Twin Learning Factory project in conjunction with Avcorp Industries Inc., Convergent Manufacturing Technologies, LlamaZOO Interactive Inc. and the University of British Columbia under Canada's Digital Technology Supercluster initiative. The Learning Factory will integrate the latest in virtual technologies and leverage AMPD's HPC Platform to digitally design production lines for advanced aircraft parts.
A number of as-yet-unannounced deals and partnerships are in progress. The Company expects that deals under negotiation in the pipeline will, when finalized, max out DC1's current capacity.
DC1 represents a more efficient, greener approach to urban data. Systems within DC1 capture the heat generated by the servers and re-purpose it for use in the surrounding residential building, as well as producing clean drinking water.
The Company formally christened DC1 with an official launch event on the evening of January 16th, with over 100 participants from across the digital media, video games, and Industry 4.0 sectors in British Columbia in attendance. The event was supported by technology partners including Telus Corporation (TSE:T), AMD Inc. (NASDAQ:AMD), Super Micro Computer Inc. (OTC:SMCI), Kaminario, each of whom are leaders respected fields and are enabling AMPD to become a rapidly emerging leader in the high-performance infrastructure space.
DATA CENTRE 2 (DC2) PROJECT UPDATE
Due to better-than-expected demand for DC1, plans for AMPD's second high-performance computing centre, DC2 have been accelerated. DC2 will be adjacent to DC1 and is expected to enable economies of scale across both centres and improving AMPD's capacity to meet the demands of companies requiring next-generation compute solutions.
The previously announced partnership with Capilano University for the development of the Creative Technology Community, intended to house a three-megawatt AMPD Data Centre, is progressing satisfactorily.
AMPD continues to attract the interest of potential partners from across the digital media, video game, and Industry 4.0 sectors. On November 13th, 2019, the Company announced its strategic partnership with My Esports Ventures Inc., through which AMPD will supply the digital infrastructure for My Esports Ventures' forthcoming eSports Gaming Stadiums across North America.
A number of additional channel partnerships are expected to be formalized in the coming months, increasing AMPD's global footprint, as well as providing access to some of the world's leading video games companies.
HIRING OF CHRISTENE ("CHRIS") BEST AS VICE PRESIDENT OF SALES
On January 8th, 2020, AMPD announced that it had appointed Chris Best as Vice President of Sales, effective January 2nd, 2020. Ms. Best joins AMPD from Infobip, a global mobile services cloud provider with offices in over 60 countries, where she was Director of North American Sales. Chris' 20-year career in enterprise software and SaaS sales leadership also includes stints as Vice President of Sales & Marketing at Klein Systems Group, Vice President of Commercial Sales and Strategic Alliances at 1-800-GOT-JUNK?, Vice President of Sales, Marketing & Customer Service at Fincentric Corporation and Director of BC Sales Operations at Xerox Canada.
Chris' appointment has helped further increase the Company's sales efforts and it is anticipated that additional Account Executives will be hired during this quarter to round out our sales team.
AMPD's Chief Strategy Officer, James Hursthouse presented at the GStar 2019 Global Game Exhibition and Conference, the largest gaming conference in South Korea, that took place from November 14th to 17th in Busan, South Korea ( www.gstar.or.kr/eng/ ), alongside British Columbia provincial Innovation Commissioner, Dr. Alan Winter, and other leading experts from the online and mobile games industry.
Hursthouse also spoke at India Joy 2019 in Hyderabad, India at the invitation of the organizers. India Joy is billed as the largest congregation of gaming, animation, VFX, e-sports, and entertainment events in India ( www.indiajoy.in ). AMPD hopes to pursue opportunities that may emerge from the India trip, specifically in relation to the rapidly burgeoning Animation and VFX sector in the country, as appropriate over the coming months in conjunction with BC's Trade and Investment Offices in India.
Looking forward, AMPD plans to attend the annual DICE Conference in Las Vegas in February 2020, the Game Developers Conference in San Francisco, CA, in March 2020, the GamesBeat Summit in Los Angeles, CA, in April 2020, and SigGraph 2020 in Washington, D.C., in July 2020, among other conferences and events.
On Friday, January 10th, 2020, AMPD announced a private placement (the "Private Placement") of up to 4,000,000 units, comprised of one common share of the Company (the "Shares") and one-half of one common share purchase warrant (each such whole warrant, a "Warrant"), with each whole Warrant exercisable to purchase one additional Share at a price of CAD $0.50 per Share for a period of 12 months from the date of closing of the Private Placement, at $0.2375 per Unit for gross proceeds of up to CAD $950,000. This Private Placement replaced the private placement previously announced on November 26th, 2019, which was terminated by the Company.
Prior to the completion of the Private Placement, certain subscribers that are shareholders of the Company will sell 3,626,000 Shares at CAD $0.25 per Share from their personal holdings, including Mr. Anthony Brown (CEO and Chairman) and Mr. Paul Mari (VP, Operations) with the proceeds from such sale anticipated to be used to acquire an equal number of Units under the Private Placement. The completion of the Private Placement is subject to a number of conditions, including receipt of approval of the Canadian Securities Exchange and other regulatory approvals and all securities sold pursuant to the Private Placement will be subject to a four-month hold period.
The proceeds from the Private Placement are expected to be used for expansion, key staff hiring, and general working capital purposes.
About AMPD Ventures Inc.
AMPD specializes in providing high-performance cloud and computing solutions for low-latency applications, including video games and eSports, digital animation and visual effects, and big data collection, analysis and visualization. For further information concerning the company and its business, please see the long-form prospectus dated October 11th, 2019, supporting its application for listing on the CSE. A copy of the prospectus was filed under the company's profile at SEDAR.
ON BEHALF OF THE BOARD OF DIRECTORS
/s/ "Anthony Brown"
CEO & Director
AMPD Ventures Inc.
| Tel: 604-332-3329
For more information on AMPD, please contact:
Tel: 604-332-3329 ext. 3
Or visit http://www.ampd.tech
The CSE does not accept responsibility for the adequacy or accuracy of this release.
Certain statements made herein may contain forward-looking statements or information within the meaning of the applicable Canadian securities laws. Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements or information herein include, but are not limited, to statements or information with respect to agreements or partnerships or future agreements or partnerships relating to DC1, plans with respect to DC2, future potential partners and strategic alliances, increases in sales efforts, any future conference attendance, and the completion of and use of proceeds from the Private Placement.
Forward-looking statements and forward-looking information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. We have made certain assumptions about the forward-looking statements and information, including the success of agreements or partnerships relating to DC1, ability to finalize future agreements or partnerships relating to DC1, ability to meet plans with respect to DC2, ability to attract future partners and strategic alliances, ability to complete the Private Placement, including receipt of all required approvals. Although our management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statements or information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. These risks, uncertainties and other factors include, inability to finalize future agreements or partnership relating to DC1, inability to meet plans with respect to DC2, inability to attract future partners or strategic alliances, and inability to complete the Private Placement, and those factors discussed in the section entitled "Risk Factors" in the Company's Form 2A Listing Statement dated October 17, 2019 and "Risk and Uncertainties" in the Company's most recent Management Discussion and Analysis filed on SEDAR.
There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein. Except as required by law, we do not expect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of the Company's business contained in the Company's reports filed with the securities regulatory authorities in Canada.
All forward looking statements and information contained in this News Release are qualified by this cautionary statement.
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SOURCE: AMPD Ventures Inc.