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Regency Resources Unveils Breakthrough Business ModelCompany Signs Strategic Memorandum of Understanding (April 23, 2012)
LOS ANGELES, CA -- (Marketwire) -- 04/23/12 -- Regency Resources, Inc. (OTCBB: RSRS) ("Regency" or the "Company"), a development stage company aiming to offer an in-depth portfolio of content for Internet TV distribution, is pleased to announce that subject to the close of the proposed merger between Regency Resources and Digitally Distributed Acquisition Corporation ("DDAC"), the Company will move ahead under the operating trade name Digital Development Group ("Digidev") as management believes this name best exemplifies the future plans for the Company's efforts. As such, the Company plans to submit a request for a formal name change and new trading symbol pursuant to the close of merger.
Digidev further announced today that in addition to converting digital content held by large global film libraries, the Company will facilitate the development of a string of niche content providers and through them, the deployment of digital content around the world. This novel distribution model ushers in a new era of "Micro Channel" opportunities never before available in the entertainment industry. "The Catchphrase of 2012's television industry is niche content for a global audience," stated Martin W. Greenwald, CEO of Regency Resources and Digidev. "We will facilitate the distribution of thousands of shows and films focused on highly targeted, demographically defined, audiences and markets. The micro channel is the portent of a multi-thousand channel TV universe."
To illustrate the undeveloped demand for these niche platforms, Digidev has signed a Memorandum of Understanding ("MOU") with the Snow Leopard Conservancy ("SLC"), a Sonoma, California based non-profit corporation that advances community-based stewardship of the snow leopard through education, research and grassroots conservation action. As part of the agreement, Digidev would create an interactive channel ("the SLC Channel") for streaming content created, produced and/or licensed by SLC. Digidev will provide its technical expertise, creative services, industry relationships and administrative management resources to create and distribute the SLC Channel. Greenwald further stated that Digidev plans to launch the SLC Channel in the fall of 2012.
Rodney Jackson, founder and Director of SLC, states, "Having a channel dedicated for the distribution of our content will give our organization an opportunity to reach a broader audience, providing significant awareness of the plight of this endangered species to an audience we know exists, but have been unable to reach by ourselves."
Digidev's Management believes that the revenue generating opportunities created through the development and distribution of Micro Channel programming brings the potential for thousands of all-new, highly specialized programs with near-endless advertising possibilities to well-defined audiences from around the globe.
The small content providers don't have the know-how or ability to generate revenues from their current content and libraries. Digidev provides a unique opportunity for these institutions to find and communicate directly with their target audience. The unique use of direct demographics ensures extraordinary relevance for advertisers and viewers alike. While these niche audiences may be smaller than traditional mass-market TV audiences, their specific interests ensure relevance and offer the distinct possibilities for successful and well-produced channels to literally "go viral" and become blockbuster hits in their own right. This goes well beyond the already popular reality TV product model into a whole new area of entertainment.
Additional details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database. For more information, visit our website at: www.regencyresources.com.
About Regency Resources (OTCBB: RSRS)
Regency Resources is a development stage company. Through a merger with Digitally Distributed Acquisition Corporation ("DDAC") the Company plans to move forward, post-merger, as Digidev Group and seeks to build a media business using proprietary technologies and close industry relationships to develop a broad-based and varied portfolio of content for Internet TV distribution. Regency's business model is to share revenues with the content owners and provide unique monetization methods. According to industry research by iDate this market sector is expected to grow tenfold from its current $400 million in revenues to $4 billion in 2016. Visit us at www.regencyresources.com.
About the Snow Leopard Conservancy
The Snow Leopard Conservancy believes that snow leopards are best protected through conservation efforts that grow from within communities living with the cats. We offer material support and planning assistance in exchange for a community's agreement to assume the primary responsibility for protecting snow leopards and other wildlife. Find out more at www.snowleopardconservancy.org.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the United States Securities Act of 1933, as amended and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, reference to new technologies, software and sales methods as well as financial projections for the size of the internet TV market. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
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