The Corporation is pleased to announce that it has acquired the first five channels of Canvid 200 Channel Internet Broadcasting Network, to be launched globally, using the same proprietary audio and video codec that is currently used by the corporation, to deliver video conferencing (miVideo). The service will be launched as miWebTV and will allow the customer to access the video content, IN REAL TIME, from their PC or television monitor by simply logging into a designated web portal and then selecting the channel they wish to view. This revolutionary video streaming software will allow the customer to select any size image starting as small as 320X240 and with a single mouse click enlarge the video to full screen on his/her personal computer for a better viewing experience, or, project the video to a full screen HDTV image on their television.
Under the terms of the definitive agreements reached between miNetwork Group and CSC Global Technologies Inc., miNetwork will pay a total of two million, four hundred thousand US dollars ($2,400,000.00 USD) for the exclusive global rights to the first five (5) channels. Payment of the total purchase price will be in the form of cash, common shares of miNetwork and future bandwidth payments as the channels are launched. This transaction is non-dilutive to the existing shareholders, as the insiders of the corporation have agreed to transfer portions of their current shareholdings in order to complete this acquisition.
“miNetwork will be announcing shortly that we will be partnering with a number of industry players to establish a video distribution center and the necessary infrastructure required to deliver video content globally to anyone with an Internet connection”, stated Dan Pacholik, President and CEO of the Corporation. “The ability for our customers to create their own video content and to distribute that content to their customers, not only to watch, but to interact with in real time, is truly revolutionary”, he added.
“We have developed, tested and produced a television Network capable of delivering full screen cable-quality images over the existing infrastructure in real time to anyone anywhere,“ stated Mr. Gary Saundh, President of CSC Global Technologies,“ and this Network combined with the marketing vision of Mr. Pacholik, and some of our other clients will ensure that hundreds of channels are created globally, to deliver new and exciting content to Internet viewers at a significantly lower cost than conventional satellite or cable systems,” added Mr. Saundh.
The current bandwidth and initial hardware installation will support four thousand (4,000) users, assuming each user will utilize, on average, two (2) hours of viewing per day. The video capture and broadcast infrastructure have been established to scale up the broadcast center by four thousand users for each incremental broadcast server added to the facility. The Corporation will initially place demonstration video content on the service to simply demonstrate the system capability. As initial clients purchase channel capacity or purchase channels outright, the programming and channel designations will be changed to reflect the client’s specific requirements.
“We invite all potential customers who either have video content and want to reach an audience or, believe they have an audience that is seeking video content of a specific nature, to contact our offices by email at info@mi-network.com. To see a demonstration, visit our website, www.mi-network.com and complete the short application form, complete the software downloads to ensure your pc software packages are current and then click on the demo button, to launch miWebTv,” stated Brenda Scott of miNetwork Group. “For those interested in seeing a quick demonstration of the miWebTV technology we will periodically activate a different demonstration channel for demonstration purposes on our website. In the event you launch the demo and there is no content playing simply try again later as the demonstration will not be live 24/7 until such time as the network center is complete”, added Ms Scott, the Corporation’s Support Manager.
About CSC Global Technologies Inc.
CSC Global Technologies Inc. is a Calgary, Canada based technology company, with revolutionary video compression based solutions, which include video and audio codecs that simply deliver the very best viewing experience anywhere on the planet. CSC is in the business of empowering content providers to deliver the very best quality in video conferencing, video on demand or live video streaming applications for their customers.
About miNetwork Group Inc.
MiNetwork Group Inc. is an Internet based marketing and distribution company focused on the migration of real world Internet products and services from a fixed location service to the wireless devices and access points now being deployed globally.
On Behalf Of The Board
of miNetwork Group Inc.
President - Dan Pacholik
CONTACT:
For investor relations and corporate information:
Dan Pacholik
Phone: 403.250.5701
Fax: 403.668.5593
Email: info@mi-network.com
or danp@mi-network.com
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company’s current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially form those anticipated or implied in the forward-looking statements.
