SANTA BARBARA, Calif., Sept. 08, 2017 (GLOBE NEWSWIRE) -- Carbon Sciences Inc. (OTC:CABN), today announced that it will change its corporate name to Digital Locations, Inc., to better describe its new focus on providing next generation location based advertising solutions that enable brands to connect with people and places.
The company also announced that on September 1, it entered into an agreement in principle (“Term Sheet”) with Glanz, Inc. to acquire the business assets of Corner Media, a location based advertising company (www.CornerMedia.com) in the “digital out of home” sector.
Corner Media has partnered with some of the largest real estate investment trusts (REITs) in the U.S. to assemble a smart digital signage network in approximately 500 highly visited entertainment districts, lifestyle centers, and destination venues in the Top 15 designated market areas most coveted by advertisers. These pedestrian venues are visited millions of times per day allowing Corner Media to deliver custom audience segments for advertisers.
As previously announced in June, Gerard F. “Jerry” Hug joined the Company as its new CEO to execute a growth-by-acquisition strategy. The acquisition of Corner Media will represent Mr. Hug’s first effort to lead the company in the direction of providing location based advertising solutions.
Mr. Hug previously served as the Chief Executive Officer of SITO Mobile, Ltd. from November 2014 to February 2017, where he architected and executed the successful transformation of the company from an SMS aggregator to an industry leader in Location-Based Mobile Advertising.
The company’s acquisition of the Corner Media business assets is subject to the execution of a definitive agreement between the parties. The purchase price will be paid in the form of 50,000 shares of Carbon Sciences non-voting preferred stock that may be converted into 125,000,000 shares of Carbon Sciences common stock, plus the assumption of certain liabilities in the amount of $500,000.
About Carbon Sciences, Inc.
Carbon Sciences (to be renamed Digital Locations, Inc.) has spent several years developing breakthrough technologies based on graphene, the new miracle material. The company recently shifted its focus to developing next generation location based advertising solutions that digitally connect brands with people and places. Through an ecosystem of interactive digital signage, smart sensors, and augmented reality in highly visited locations, such as airports, entertainment districts, shopping malls and sports venues, we intend to allow brands to advertise and interact with consumers in the context of where they are, who they are, and where they’re going. We plan to develop a cloud-based platform for property owners to use in delivering high value custom audience segments to advertisers, backed by powerful data analytics and reporting. Our mission is to transform digital out of home (“DOOH”) advertising from simple messaging to immersive experiences by bridging the physical and digital worlds, allowing for a truly connected multi-channel experience.
To learn more about Carbon Sciences, please visit www.CarbonSciences.com
Safe Harbor Statement
Matters discussed in this press release contain statements that look forward within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such statements that look forward. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the statements that look forward contained herein, and while expected, there is no guarantee that we will attain the aforementioned anticipated developmental milestones. These statements that look forward are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.
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Source:Carbon Sciences Inc.