MARKETWIRED - Difference Capital Announces Follow-on Social TV Investment in iPowow, Inc.

September 25 2013

TORONTO, ONTARIO--(Marketwired - Sept. 25, 2013)- Difference Capital Financial Inc. (TSX VENTURE:DCF), a leading specialty financial services company, is pleased to announce an additional $3 million investment in the form of preferred shares in iPowow Inc. ("iPowow"), a leader in the emerging Social TV space.

The preferred shares carry a right to an 8% cumulative annual dividend and are convertible into common shares at par, bringing DCF's effective stake in iPowow to 32.1%, excluding options. This investment increases DCF's participation in the second-screen industry and will allow iPowow to execute its growth plans.

iPowow is an interactive media company focused on social television via 'participation TV'. iPowow's unique offering to TV broadcasters gives them an integrated, proprietary software platform, which is embedded into the production of the live broadcast.

iPowow's technology provides viewers with the ability to use their second screen or smartphone to interact live with a TV show, with results displaying on the TV screen in real time. The platform also allows unique content or promotions to be pushed to the participating viewers instantaneously to their second screen device. 

Significant milestones the company has achieved to date include:

Tom Astle, DCF's Head of Investment Strategy, said "iPowow works with leading networks and have a proven software platform that is commercial grade. Our investment will allow them to further entrench their position in broadcast networks wanting to engage their audiences through 'Social TV'. We believe it is timely for iPowow's integrated platform to capitalize on the broadcasters needs towards increasing engagement with television audiences."

Ettienne Fourie, iPowow's CEO, said "We are delighted to announce Difference Capital's significant support for iPowow. We have signed several contracts over the past few months, and this new funding will allow us to better serve and partner with the broadcast industry, and satisfy the increasing demand for our system."

 

About Difference Capital Financial Inc.

Difference Capital Financial Inc. is a publicly-listed, Toronto-based specialty finance company focused on creating shareholder value through strategic investments in, and advisory services for, growth companies, particularly in the technology, media and healthcare sectors, as well as through opportunistic investments in undervalued financial assets and real property.

 

About iPowow Inc.

iPowow is an interactive media company focused on participation television and second screen content. iPowow gives broadcasters, TV producers and advertisers the power to create a new breed of participation television that engages the viewer. The company has projects underway with many major networks in the US and Australia. For more information on iPowow please visit www.ipowow.com.

  Source: http://www.marketwired.com/press-release/difference-capital-announces-follow-on-social-tv-investment-in-ipowow-inc-tsx-venture-dcf-1834540.htm