MIAMI BEACH, Fla., Nov. 4, 2014 /PRNewswire/ -- Next Galaxy Corp. (OTCQB: NXGA), a leading developer of innovative content solutions and fully immersive Consumer Virtual Reality technology, is pleased to announce that the Company has signed a Business Partnership Agreement with Annex Telecom Co., Ltd, one of South Korea's top Mobile Virtual Network Operators (MVNO) with over US$1.2 billion in annual sales.
Per the agreement, Next Galaxy and Annex Telecom will work together to create and distribute Virtual Reality (VR) concerts and experiences for use with devices such as the Samsung Gear VR and Oculus Rift via the CEEK Platform. Annex Telecom will also provide celebrity talent affiliations for production and marketing of VR Concerts.
Further, Next Galaxy has granted exclusive distribution rights in Korea to Annex Telecom for a packaged product, which will include one VR display headset from third parties and one pair of CeekarsTM, Next Galaxy's first-in-class VR audio headphone, which comes equipped with a controller for fully immersive environments when a user's view is obstructed from seeing a keyboard.
In addition to its retail telecom sales and services that encompass major brands, such as the Samsung Galaxy and LG G-line Phones, Annex Telecom produces audiovisual content. The company distributes mobile phones through established distribution channels, which include home shopping, direct sales stores and other partners, aligning Next Galaxy for immediate exposure with jointly-created shows and concerts. Annex Telecom also has access to top K-Pop and K-Drama stars. Annex Telecom's portfolio of shows includes the popular series "Poseidon," "Twinkle, Twinkle" and "Romance Town."
"We see a tremendous opportunity to expand our offerings and regional footprint with Virtual Reality content. It has become a prime directive of our company and we are excited by this partnership with Next Galaxy to execute our plan," said Sung-kwang Moon, Chief Executive Officer of Annex Telecom. "Korea has embraced technology like no other, with e-sports and game clubs mainstream in our culture, commanding massive audiences. Virtual Reality is a hot button and we believe it is a catalyst for the next generation of entertainment."
"South Korea has been a telecommunications visionary, setting up a robust telecom and Internet infrastructure that has become a focus of national pride. It's the perfect environment for us to engage millions of technology-passionate users and with a partner like Annex Telecom having the resources, reach and motivation, we intend to bring it to them," added Mary Spio, President of Next Galaxy Corp.
About Next Galaxy Corp:
Next Galaxy Corporation is a leading developer of innovative content solutions and fully Immersive Consumer Virtual Reality technology. The Company's flagship consumer product in development is CEEK, a next-generation fully immersive entertainment and social virtual reality platform featuring a combination of live, virtual and augmented events and experiences. Next Galaxy's CEEK simulates the communal experience of attending live events, such as concerts, sporting events or business conferences through Virtual and Augmented Reality. Next Galaxy is developing entertainment and educational experiences for VR Cinema, VR Concerts, VR Sports, VR Business, VR Tourism and more. In short, Next Galaxy is building the meeting places of the future. For further information, visit www.nextgalaxycorp.com.
This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are only predictions and involve risks, uncertainties and assumptions that could cause Next Galaxy's actual results to differ materially from anticipated results and expectations expressed in these forward looking statements. Any forward-looking statements are subject to risks and uncertainties such as those described in Next Galaxy's periodic reports on file with the Securities and Exchange Commission.
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