VANCOUVER, BC – August 28, 2009 – Live Current Media Inc. (OTCBB:LIVC), a media company built around content and commerce destinations, announces today that it has completed the sale and assignment of the cricket.com domain name and the Indian Premier League contract for a total consideration of approximately $1.75 million. This transaction eliminates all of the Company’s liabilities, past and future, associated with the Company’s cricket operations. In addition, the unrelated third party purchaser, GCV Mauritius, has agreed to hire Mark Melville, Live Current’s President, and to cover severance costs related to the termination of certain Live Current employees associated with the cricket operations. This transaction allows Live Current to completely exit the cricket business while significantly reducing corporate overhead.

Live Current also announces the sale of additional non-core domain names for proceeds of $1.6 million.

Sale of Cricket Assets

On August 25, 2009, Live Current executed agreements to divest all of the Company’s cricket operations, including the cricket.com domain name and website and the rights granted under the contract with the Indian Premier League.  In return, Live Current will receive consideration of $1.75 million plus related expenses as follows:

• $1 million in cash to be paid quarterly in equal installments with the first payment of $250,000 to be paid within two days of closing;
• The assumption by GCV Mauritius of a liability totaling $750,000 related to past obligations to the BCCI;
• The assumption by GCV Mauritius of salary and employment expenses related to the Live Current employees associated with cricket.com.  These expenses include salary obligations for Live Current’s President, Mark Melville, the payment of up to $60,000 in severance costs resulting from the termination of other cricket.com related employees, and a monthly payment of $2,500 for general overhead expenses.  These expenses will be paid for a period of up to 6 months.

 As a result of this transaction, Live Current and its subsidiaries will have no outstanding liabilities relating to the company’s historical cricket activities.

Continued Infusion of Capital Through the Sale of Non-core Domain Names.

Live Current has entered into agreements to sell two additional non-core domain names for a total of $1.6 million, less commission.  The Company had previously entered into an agreement with a different party to sell one of these domain names for $1.25 million with payments to be made over 12 months. The original agreement was breached by the buyer and the Company retained the domain name and the $355,000 that had already been received under that agreement. The proceeds from these domain name sales will add significant funds to the Company’s working capital.  These sales and the sale of the cricket.com domain name bring the total raised in 2009 through the sale of non-core domains to approximately $4 million.

Restructuring of LCM’s Largest Liability — the Second Cash Payment under the Auctomatic Acquisition

Live Current recently announced (press release of August 20, 2009) a renegotiation of the final payment of $800,000 owed pursuant to the Merger Agreement between Live Current and Auctomatic dated March 25, 2008.  Under this agreement, Live Current will issue notes (the “Notes”) to 12 Auctomatic shareholders who are owed a total of $424,934.40.  The Notes will allow the Company to pay the amounts due over a period of 12 months.  Of the remaining $375,066 not covered by the Notes, $334,224 is due to two employees who were terminated as a result of the sale of cricket.com to GCV Mauritius, as discussed above. Live Current has entered into Severance Agreements with these individuals that include an agreement to repay the amounts owed under the Merger Agreement at a 10% discount to face value. This will be in addition to the severance due to them under their employment agreements. In consideration of these payments, these individuals have each agreed to forfeit their rights to 91,912 shares of Live Current common stock that were due to be issued to each of them in May 2010 and May 2011 under the Merger Agreement.

Geoff Hampson, Live Current’s CEO, commenting on the significant progress that these actions represent, stated; “In late 2008, when it became apparent that the expansion capital needed to properly exploit the opportunity under the agreements with the BCCI would not be available, senior management initiated a plan to extricate the Company from the on-going liabilities associated with the minimum rights payments and to significantly reduce overhead costs. These new announcements are the culmination of the plan.  Aside from providing an infusion of cash, we believe that these transactions will result in restoring a positive working capital balance and significantly reduce the Company’s operating costs. These transactions should allow Live Current to fully support growth initiatives associated with the recently launched Karate.com website and to affect a new strategy for Perfume.com. We believe that Live Current is again in a position to grow. The Company has retained the majority of its top tier domain names to enhance future prospects for the Company. The recent sales of 7 of our 34 top tier names for proceeds of $4 million further demonstrate the inherent value of the Company’s assets.”

About Live Current Media Inc.

Live Current builds, owns and operates some of the most powerful and engaging content and commerce destinations on the Internet, such as www.perfume.com and www.karate.com. Through subject-specific DestinationHubs™, Live Current properties connect people to each other and to the information, brands, and products they are passionate about. Live Current has headquarters in Vancouver, Canada with a location in Seattle, WA and is publicly traded on the OTCBB (LIVC). For more information, visit www.livecurrent.com.

All statements in this press release that are not statements of historical fact are forward-looking statements, including any projections of earnings, revenue, cash or other financial items, any statements of the plans, strategies, objectives and goals of management for future operations, any statements regarding future economic conditions or performance, statements of belief and any statements of assumptions underlying any of the foregoing.  These statements are based on expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements.  These risks and uncertainties include, but are not limited to, general economic conditions particularly as they relate to demand for our products and services; competitive factors; pricing pressures; changes in operating expenses; our ability to raise capital as and when we need it and other factors.  Live Current Media Inc. assumes no obligation to update these forward-looking statements to reflect future events or actual outcomes and does not intend to do so.

Contact:

Live Current

Andrea Laird

Investor Relations Contact

604-453-4870 or 1-866-898-4354

andrea@livecurrent.com