LONDON, Nov. 28, 2018 (GLOBE NEWSWIRE) — One Horizon Group, Inc. (Nasdaq: OHGI) today announced its expectation to on-board its first 123Wish Platform Partner. One Horizon Group anticipates completing definitive documentation with the first such Partner later this week.
“Due to the complexity of these types of deals in terms of tailoring the 123Wish Platform to each specific co-branding partner, it has taken us longer to go-to-market in this area than we anticipated,” said Mark White, Founder and CEO of One Horizon Group. “However, after many months of work and after hiring from Apple our Chief Technology Officer, Spencer Christopher, we have uncovered additional opportunities to unlock value from our once-in-a-lifetime experience Platform and we are building market-leading features including live-streaming into our capabilities set.”
“We recognize that getting to this point has required us to enter into a number of financings but all such transactions have been private placements at specific fixed prices near the market price of our common stock,” said Martin Ward, CFO of One Horizon Group. “We have not entered into any variable-rate or convertible debt instruments with any funding groups and we do not expect to enter into any further financing transactions this year. Whereas our latest funding is above today’s market price and our investors have taken a long-term focus and intend to vote their shares at our Annual Meeting in late December, we don’t expect market pressure from such investments in the foreseeable future.”
Safe Harbor Statement
This news release may contain “forward-looking” statements. These forward-looking statements are only predictions and are subject to certain risks, uncertainties and assumptions that could cause actual results to differ from those in the forward looking-statements. Potential risks include such factors as the inability to enter into agreements with parties with whom we are in discussions, the uncertainty of consumer demand for the Company’s products, as well as additional risks and uncertainties that are identified and described in the Company’s SEC reports. Actual results may differ materially from the forward-looking statements in this press release. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company does not undertake, and it specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.
About One Horizon Group, Inc.
One Horizon Group, Inc. (Nasdaq: OHGI) is a media and digital technology acquisition and software company, which owns Love Media House, a full-service music production, artist representation and digital media business; Horizon Secure Messaging, an Asia-based secure messaging business; and Banana Whale Studios, a gaming software development company. OHGI also holds a majority interest in 123Wish, a subscription-based, experience marketplace, as well as majority interest in Browning Productions & Entertainment, Inc., a full service digital media and television production company.
For more information, please visit http://www.onehorizoninc.com
CONTACT: Darrow Associates Contacts for OHGI Bernie Kilkelly/Jordan Darrow (516) 236-7007 bkilkelly@darrowir.com