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Hipso Multimedia: Hipso Multimedia, Inc.'s (HPSO) Subsidiary, Valtech Communications, Inc., Enters Into a Written Agreement Wit

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^{Published in Science and Technology on Friday, July 24th 2009 at 7:15 GMT, Last Modified on 2009-07-24 07:15:41 by Market Wire}  

ILE DES SOEURS, QC--(Marketwire - July 24, 2009) - Hipso Multimedia, Inc. (OTCBB: [ HPSO ]) announces that its subsidiary, Valtech Communications, Inc., a company offering "triple play" (telephone, television and Internet) communications services, has entered into a written agreement with [ Canvar Group, Inc., ] a major Montreal-based real estate developer owned by one of Hipso's largest shareholders. The relationship was announced in a [ press release dated February 3, 2009 ]. This agreement memorializes the oral understanding under which Valtech has already rendered substantial performance.

The major terms of the agreement are that:

 a) Canvar, when it leases or rents apartments or office space, will provide brochures, price lists, contact information and other literature relating to Valtech Telecommunications Services. b) Canvar will, in new or refurbished construction to which it intends to provide Telecommunications Services for no additional charge to tenants, have Valtech install wiring to Valtech's server and will pay Valtech the going rate for such installation. c) Canvar will, commencing with apartments presently under construction above its Hilton Garden Inn, located in downtown Montreal, provide wiring and equipment to facilitate Valtech Telecommunications Services to premises in which Canvar is offering telecommunications services at no additional charge to the tenant and will pay to Valtech, Valtech's standard rate for multiple units on a monthly basis. d) Canvar, based on the success of its offering telecommunications services to tenants of its Hilton Garden Inn, will offer similar services to other of its existing and future properties and will also offer as an agent of Valtech, it services to other developers and property owners. 

The Agreement will expire on July 20, 2010.

Hipso Multimedia, Inc. is dedicated to combining cutting edge technology and service in the triple play telecommunications industry. It intends to become a major force in the IPTV (Internet Protocol Television Broadcasting) arena as well in DVBT (Digital Video Broadcast Terrestrial) network technology.

Forward-Looking Statements

All statements other than statements of historical fact included in this press release are "forward-looking statements" within the meaning of federal securities laws. Such forward-looking statements are subject to a number of risks and uncertainties, some of which are beyond the Company's control.