Eight Solutions Business Update
VANCOUVER BC, April 26, 2016 — Eight Solutions Inc. (TSXV:ES) (“Eight” or the “Company”) is pleased to provide an update with the Company’s pivot of one year ago from a Hollywood-focused service business to a technology company focused on software development. The business is progressing and growing as planned and is generating, or is close to generating, revenues across three distinct products:
Cumul8 is servicing a number of industries beyond entertainment. The Company is on the cusp of launching its Cumul8 software into a series of operating sawmills. The Company’s vision is to be the cloud-based solution for the “data connected mill” where Cumul8 provides “sensor to boardroom” solutions, using live data.
Cumul8 is also remaining close to its roots – Digital Asset Management (DAM). The DAM product has evolved to be a viable solution to the growing world of mass storage of digital assets. To date, the Company’s unique and proprietary DAM system has over 1100 daily active users, synchronizing 67 terabytes (TB) of data between servers. Over the past few years, the DAM system has processed over 235 TB, or 19 million files. At the recent NAB Conference, many large storage companies took notice of Cumul8’s battle-tested, unique solution for moving, storing, and searching massive amounts of digital files, and showed interest in licensing or selling the DAM solution with their hardware.
The Company’s 3D Technology continues to generate significant royalties which will further grow by partnering with a large Chinese agency to bring the Company’s 3D process to China. An announcement for this new partnership will be coming shortly.
Reelhouse, the Company’s video distribution platform, has grown year over year with a 50% increase in users. Reelhouse recently introduced virtual reality (VR) content to the site, complete with multiple VR headset plug-ins. With VR’s rapid growth, Reelhouse is a platform that can adapt quickly. Reelhouse has curated over 20 VR films and that list is continuing to grow after visits to SXSW, Sundance and Tribeca film festivals where artists are appreciating the value of putting their films - both 2D and VR - onto Reelhouse.
“I am delighted by the hard work the Eight Solutions’ teams have been undertaking these past few months”, says Rory Armes, CEO. “We recognize and respect the next step of this progress is to use these successes as a key mechanism for increasing revenue.”
About Eight Solutions
Eight Solutions is a technology company led by a team of gaming industry veterans. Eight Solutions’ flagship product is Cumul8, a data analytics and visualization solution. Cumul8 works with any type of data source to help people and companies understand, collaborate, and make better decisions with data. Eight Solutions’ portfolio also includes an award-winning 3D software technology licensed to the film industry; and Reelhouse, a unique video-on-demand platform that allows filmmakers to distribute their content directly to users. For more information, visit www.eightsolutions.com.
On Behalf of the Board of Directors
“Rory Armes”
Rory Armes
Chief Executive Officer and Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Except for statements of historical fact, this news release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” “can” and other similar words, or statements that certain events or conditions “may” occur. Although Eight Solutions believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
For more Information, please contact:
Investor Relations
investor.relations@eightsolutions.com
Suite 100, 138 East 7th Avenue
Vancouver, British Columbia, V5T 1M6
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