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Grom Social's Subsidiary, Top Draw Animation, Signs $850,000 Contract
[January 07, 2019]

Grom Social's Subsidiary, Top Draw Animation, Signs $850,000 Contract


Continues to Win Market Share with Large U.S. Based Media and Entertainment Organizations


BOCA RATON, FL, Jan. 07, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Grom Social Enterprises (OTCQB: GRMM), a leading social media platform and original content provider for children between the ages of five and 16, announced today that its Top Draw Animation (“TDA”) subsidiary has secured a new contract to produce ten new thirty-minute episodes of an ongoing series, valued at $850,000.  

Top Draw is an award-winning producer of top-quality 2D animation for television markets around the world.  It produces high-profile media properties for global entertainment companies such as Tom and Jerry, My Little Pony and Disney Animation's Penn Zero: Part-Time Hero. Top Draw employs over 500 artists in its 30,000 square foot, state-of-the-art studio in Manila, the Philippines.  The Company produces more than 250 half-hour episodes of 2D animation each year and has an accumulated production of more than 2,000 half hours under the Top Draw banner.  For more information please visit our website at  www.topdrawanimation.com

Wayne Dearing, the Managing Director and Founder of Top Draw, commented, “We are pleased to receive this contract from a prestigious U.S. based entertainment producer. Confidentiality agreements prohibit us from specifically naming individual projects. We anticipate additional new contracts as our business continues to grow.”

Darren Marks, Chairman and CEO, commented, “We are very proud of our team at Top Draw Animation with Wayne Dearing leading the way. We believe that they are the best at what they do, and it is great to see that so many of our existing clients adding to their portfolio of business with us. The long-term nature of our production schedules at Top Draw enable us to forecast a full twelve months out, which has helped us establish a solid foundatio for the rest of our company and continue to grow Grom Social by adding new users every month.”



About Grom Social Enterprises, Inc.

Grom Social Enterprises, Inc. is a social media, technology and entertainment company that focuses on delivering content to children between the ages of five and 16 in a safe and secure environment that can be monitored by parents or other guardians.  The Company has several operating subsidiaries, including Grom Social, which delivers its content through mobile and desktop environments (web portal and several Apps) that entertain children, allow kids to interact with their peers, get relevant news, play proprietary games, while also teaching good digital citizenship. The Company also owns and operates Top Draw Animation, Inc., which produces award-winning 2D animation content for some of the largest international media companies in the world. The Company also owns Grom Educational Services, which has provided web filtering services for up to an additional two million children across 3,700 schools. For more information please visit our website at www.gromsocial.com.


Safe Harbor Statement

This press release may contain forward-looking statements which are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues and any payment of dividends on our common stock, statements related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors. Among other matters, the Company may not be able to sustain growth or achieve profitability based upon many factors including, but not limited to general stock market conditions. We have incurred and will continue to incur significant expenses in our expansion of our existing and new service lines, noting there is no assurance that we will generate enough revenues to offset those costs in both the near and long-term. Additional service offerings may expose us to additional legal and regulatory costs and unknown exposure(s) based upon the various geopolitical locations where we will be providing services, the impact of which cannot be predicted at this time. All forward-looking statements speak only as of the date of this press release. We undertake no obligation to update any forward-looking statements or other information contained herein. Stockholders and potential investors should not place undue reliance on these forward-looking statements. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements in this report are reasonable, we cannot assure stockholders and potential investors that these plans, intentions or expectations will be achieved. Except to the extent required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, a change in events, conditions, circumstances or assumptions underlying such statements, or otherwise.

PR & Media Contact:
Nicole Liddy, Communications Coordinator
1-800-782-6185
Nicole.liddy@1800pr.com
1-800-PublicRelations


Grom Social Enterprises Contact:
Investor Relations 
Melvin Leiner
Executive Vice President
1-844-704-4766
Investor.relations@gromsocial.com
Darren Marks
President & CEO 

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