ST. PETERSBURG, Fla., June 4, 2014 (GLOBE NEWSWIRE) -- UMining Resources Inc. (OTCPink:UMNG) announces new partnership with content and rights owner FANEX Inc.
A Few Words from The President:
"I am very happy to announce the beginning of many great things to come in UMNG. I feel this new move with FANEX will take us on the course we had charted 6 months ago. We will keep all our shareholders informed with more news and more often as they come to be realized."
UMNG has signed an agreement with the Canadian company FANEX, representing music, filmmakers and music companies in Cuba, Argentina and Brazil. The result of this agreement has been evident on the GITA (www.getittunesagora.com) website with an increase in multimedia content. We expect the content to greatly increase every week as more contracts are being signed by FANEX.
The agreement between UMNG and FANEX is a revenue sharing model. The agreement is valid for 5 years. No upfront money deposits for the content is required by FANEX. UMNG will pay for the content as the content is sold on the website. This will help UMNG with its cash flow and will allow for a significant increase of content moving forward.
The Company will be acquiring more rights of works in the Spanish language through its new agreement. FANEX is experienced in the Latin American Market and has developed a presence. This has been very helpful in the understanding and penetration of that market.
UMining Resources Inc. (OTCPink:UMNG) a Development Stage Company, intends to enter and exploit the exciting business opportunities in the cultural industries across the world. Whether new or from the forgotten media archives of the world, UMNG plans to build a proprietary catalogue, offering what consumers are searching for, on their mobile devices and computers.
Safe Harbor Statement:
This release contains forward-looking statements that involve risks and uncertainties, including without limitation, forward-looking statements relating to the company's financial prospects and other projections of its performance, the existence of new market opportunities and interest in the company's products and solutions, and the company's ability to increase its revenue and regain profitability by capitalizing on these new market opportunities and interest and introducing new products and solutions. Among the important factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements are changes in demand for the company's products from its customers and their end-users, customer concentration, new and changing technologies, customer acceptance and timing of deployment of those technologies, new and continuing adverse economic conditions, and the company's ability to compete effectively with other companies. These and other factors discussed in the company's filings with the Securities and Exchange Commission, OTC Markets, Inc., and others, could cause actual results to differ materially from those expressed or implied in any forward-looking statements. The forward-looking statements contained in this release are made on the basis of the views and assumptions of management regarding future events and business performance as of the date of this release, and the company does not undertake any obligation to update these statements to reflect events or circumstances occurring after the date of this release.
CONTACT: Hariklia Tsoukalas 438-828-4482 firstname.lastname@example.orgSource:Umining Resources, Inc