Live Current Media - Restatement of Financial Results

   (i)    Warrants that the Company issued in conjunction with a financing
          that closed on November 19, 2008 should be valued and classified as
          a liability in the Company's financial statements, rather than as
          equity. Management of the Company believes that the resulting
          increase to its liabilities will be approximately $90,000.
   (ii)   As part of the acquisition of Auctomatic Inc. ("Auctomatic"), the
          Company agreed to issue a total of approximately 1,000,000 shares to
          the former shareholders of Auctomatic. Of these shares, 413,604
          shares were to be issued to three members of Auctomatic's
          management, one third each on the first, second and third
          anniversaries of the transaction, conditional on the individuals
          remaining as employees of the Company. The portion of the fair value
          of the shares to be issued based on the period of service these
          individuals provided to the Company, computed in relation to the
          period of service required for the individuals to become entitled to
          the shares, should have been recorded as an expense in 2008 and 2009.
   (iii)  On January 1, 2009 the Company was to pay a bonus of CDN $100,000 to
          its President and Chief Corporate Development Officer. This bonus
          was not accrued as a liability as at December 31, 2008. The bonus is
          not discretionary; therefore an additional liability and expense of
          $81,660 should have been recorded in the Company's financial
          statements at December 31, 2008. This item was erroneously included
          in the Company's financial statements for the three months ended
          March 31, 2009, insofar as the compensation expense is recorded in
          2009 and not 2008.

The Company intends to file with the Commissions an amended Form 10-K/A for the year ended December 31, 2008 and an amended Form 10-Q/A for the nine months ended September 30, 2008 and for the three months ended March 31, 2009 as soon as practicable. Until the restated reports are filed, the Company is continuing its investigations with respect to these matters.

Management is assessing the effect of the restatement on the Company's internal control over financial reporting and its disclosure controls and procedures. Management will not reach a final conclusion on the effect of the restatements on internal control over financial reporting and disclosure controls and procedures until completion of the restatement process.

Mr. Hampson discussed these matters with the Company's independent registered public accounting firm.

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.cricket.com. Through subject-specific DestinationHubs(TM), 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 the impact of a restatement of the Company's financial results, the timeline respecting the restatement, any potential impacts on disclosure controls and procedures or internal control over financial reporting, 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, the Company's ongoing investigations regarding a restatement of the Company's financial results, and other factors. Except as required by law, 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.

SOURCE: Live Current Media Inc.

Live Current Media Inc. 
Investor Relations: 
Andrea Laird, 604-453-4870 or 1-866-898-4354 
andrea@livecurrent.com