Ampd Ventures - AMPDF STOCK NEWS

AMPD Ventures Inc. (CSE: AMPD, OTCQB: AMPDF) announced that its subsidiary, Departure Lounge Inc., has signed a Memorandum of Understanding with Marinas Guardian, a UK-based not-for-profit focused on marine environmental protection. This collaboration aims to develop digital initiatives, including educational games and immersive content, to raise awareness about ocean conservation and Marinas Guardian's mission. The partnership highlights Departure Lounge's expertise in digital media and aims to engage diverse audiences, especially younger generations, through platforms like Roblox. Work is set to begin in Q2 2023, with a range of projects planned to enhance real-world marine conservation efforts.

AMPD Ventures Inc. has launched a new investor-focused website at ampd.ventures, aiming to enhance communication and transparency with investors and customers. CEO James Hursthouse emphasized the company's commitment to creating shareholder value through a portfolio of synergistic subsidiaries, including AMPD Technologies Inc. and Departure Lounge Inc. The company is implementing a six-point strategic growth plan emphasizing new technologies, media formats, and market expansion. AMPD also closed the first tranche of a private placement, raising CA$550,000, with total gross proceeds expected to reach CA$880,000. Hursthouse aims for the company to be cashflow positive by summer 2023.

AMPD Ventures Inc. has announced the closure of the first tranche of its private placement of convertible debenture units, raising CA$550,000 from the issuance of 50 Units. This amount is part of a larger upsized total offering of up to CA$880,000. Each Unit comprises a 10.0% unsecured convertible debenture with a maturity date of April 10, 2026, and 200,000 warrants priced at CA$0.075 per share. The proceeds will be allocated for working capital (CA$420,750) and to settle employee debts (CA$110,000). The transaction involved related parties but was exempt from certain regulatory requirements. All securities are subject to a four-month hold period.

AMPD Ventures Inc. has announced a non-brokered private placement to raise up to CAN $770,000 by selling 70 units at CAN $11,000 per unit. Each unit will include a 10% unsecured convertible debenture and 200,000 common share purchase warrants. The convertible debentures have a maturity of three years, convertible at CAN $0.055 per share, and will bear interest at 10% annually. Proceeds will be used for general working capital. The offering is subject to regulatory approval, with closing anticipated around April 7, 2023.

AMPD Ventures Inc. has announced layoffs at its subsidiary, AMPD Technologies, effective March 23, 2023, impacting seven employees, which is about 60% of the staff. This move is part of a larger restructuring plan aimed at significantly reducing expenses while still serving existing clients and pursuing growth opportunities. The company aims to achieve cash flow neutrality by summer 2023 and is assessing all business operations to implement further cost reductions. CEO James Hursthouse emphasized that these layoffs do not reflect the team's dedication and thanked the affected employees.

AMPD Ventures Inc. (CSE:AMPD)(OTCQB:AMPDF) announces that its subsidiary Departure Lounge will showcase the immersive VR music video The Dark VR at the prestigious SXSW festival from March 11 to 14, 2023. Co-produced with artist WHIPPED CREAM, this project features innovative volumetric capture technologies that create photorealistic digital holograms.

The work celebrates the evolution of WHIPPED CREAM's artistic vision and represents a significant technical achievement in the industry. Departure Lounge aims to revolutionize audiovisual content production, enhancing the creative options available while reducing costs and logistical challenges.

AMPD Ventures Inc. has successfully closed its fourth and final tranche of a non-brokered private placement, initially announced on October 25, 2022. The Company issued an additional 4,076,773 Units at CAN$0.14 each, raising gross proceeds of CAN$570,748, totaling CAN$2,235,755 across the Private Placement. Each Unit includes one common share and one warrant, priced at CAN$0.20 for a period of 24 months. Proceeds will fund AMPD infrastructure, increase workforce, and support general operations. Finders received CAN$20,699 in cash and 147,850 warrants, with the total finders' fees amounting to CAN$111,752.71 in cash and 798,234 Unit Warrants.

On Jan. 5, 2023, AMPD Ventures Inc. (CSE: AMPD, OTCQB: AMPDF) announced a non-binding letter of intent (LOI) to acquire a full-service studio specializing in virtual cinematography and animation services. The acquisition aims to integrate a profitable industry leader generating millions in annual revenue, enhancing AMPD's offerings. Funded through low-cost debt and shares, this move seeks to create synergies and drive revenue growth. However, completion depends on due diligence, regulatory approvals, and other conditions, with no guarantee of finalizing the transaction.

AMPD Ventures Inc. (CSE: AMPD) announced a successful start for its subsidiary, Departure Lounge Inc., which opened in August 2022. Departure Lounge has engaged in five customer projects and generated nearly $175,000 in Q4 2022 bookings. Their innovative services include volumetric hologram creation for major companies and designing Metaverse environments. With 20 employees, they plan to hire 5-8 more in H1 2023. Additionally, they are expanding globally, including a project in Thailand. Departure Lounge also supports local community initiatives.