ILE DES SOEURS, QC -- (Marketwire) -- 08/07/09 -- Hipso Multimedia, Inc. (OTCBB: HPSO)
announces that its wholly owned subsidiary, Valtech Communications, Inc.,
has entered into a letter of intent with Clovys Communications, Inc. to
purchase a 50% equity interest in Clovys.
Clovys has been awarded by the Canadian Radio-Television and Telecommunications
Commission ("CRTC"), a Canadian multiplatform television license which
permits it to broadcast urban television throughout Canada. Very few
licenses are awarded and Clovys as the only license devoted to urban
television. Clovys, with its francophone (French culture) multiplatform
high definition digital Canadian channel, will specialize in music and
urban culture -- targeting the 13- to 34-year-old multiethnic generation.
To be launched in the last quarter of 2009, Clovys TV will be the one and only
Canadian channel dedicated to the urban culture.
Clovys is designing its programming to set the tone for the current global
urban movement that naturally displays intermixing of cultures. Management
of Clovys anticipates that it will become a link between the Americas and
French-speaking countries. Clovys intends primarily to broadcast videos of
urban music's main styles such as hip hop, R&B, soul, rap, dance-hall and
world music such as Reggaeton,
Zouk, Compa, Rai, Coupe Decale, Roots, Reggae, and Soca. Relying on this
strategy, Clovys intends to draw viewers by presenting both tasteful and
avant-garde television programs. Urban has become a popular sector in
music, television, Internet and clothing. Valtech and Clovys hope to
capitalize on the popularity and profitability of the urban marketplace
which is becoming a solidly entrenched industry.
Valtech (See www.valtech.ca) provides
next generation triple play services, including VoIP, high-speed internet
and television services to consumers and wholesale customers. Hipso
Multimedia, Inc., through its Valtech subsidiary, is dedicated to combining
cutting-edge technology and service in the triple play telecommunications
industry.
