Bubblr Provides Capital Update
Bubblr Inc. (OTC PINK: BBLR) has signed a contract with Wefunder to raise $20 million through crowdfunding. This partnership aligns with Bubblr's ethical technology values and aims to support the development of mobile-first technologies. Completion of an external audit by Pinnacle Accountancy Group is expected by August 2021, which will enable Bubblr to file a Reg A application for the fundraising process. The company views this move as a significant step towards NASDAQ listing within 18 months.
- Secured $20 million funding through Wefunder, enhancing capital resources.
- Alignment with Wefunder's ethical values supports brand image.
- Anticipated completion of audit by August 2021 to proceed with Reg A application.
- Dependency on the success of crowdfunding for financing.
- Potential risks associated with the forward-looking statements regarding future performance.
NEW YORK, July 26, 2021 (GLOBE NEWSWIRE) -- via NewMedia Wire -- Bubblr Inc., (OTC PINK: BBLR), ("Bubblr" or the "Company"), an ethical technology company focused on the development and commercialization of mobile-first technologies, today announced Bubblr, Inc has signed a contract with Wefunder.com to raise
Wefunder, Inc. and Wefunder Portal LLC operate the website located at www.wefunder.com. The Company’s mission is to connect entrepreneurs ("Founders") who are working on innovative new businesses ("Startups") with people who may be able to provide financing, advice, and other support to those Startup ("Investors"). Among other things, Wefunder offers valuable web-based tools to facilitate fundraising by Founders for their Startups. Wefunder also provides supplementary materials that educate both Founders and Investors about the nature of entrepreneurship, the process, and challenges of investing in startup companies and "crowdfunding" – the funding of a project or venture by raising small amounts of money from many people.
Bubblr, Inc and Wefunder.com have been in the negotiation of this contract for over three months and both parties are delighted to have completed the negotiations to a very successful conclusion. Wefunder.com is an accredited B-Corp organization and, as such, is in complete alignment with Bubblr’s ethical technology values.
Separately, our current expectation is for the external audit process currently underway with Pinnacle Accountancy Group of Utah to be completed sometime in August 2021. As soon as the audit has been completed, Bubblr, Inc. will immediately file the Reg A application with the appropriate listing organization which will launch the Wefunder process.
When Bubblr, Inc. was first listed on OTC Markets in December 2020, it arrived with nearly 500 small investors, which was an unusually large number of small investors. These early investors have demonstrated great belief in the ambition and purpose of Bubblr, Inc. and have proved to be great advocates and supporters of the Company. Our hope is that the new investors that will be introduced by Wefunder.com will be similarly motivated supporters of our cause.
Bubblr, Inc. considers this event to be a very significant step towards our ambition to become a fully listed Company on NASDAQ within eighteen months.
Steve Morris, Chief Technology Officer of Bubblr, inc. stated:
“We are very pleased on many fronts, and the opportunity to work with such a fine Company like Wefunder is both exciting and opportunistic for the Company. Capital is the fuel that drives all engines and ours in no different. We will keep the public up to date under the formal FD Rules as we pursue this form of equity financing.”
About Bubblr, Inc.
Bubblr, Inc. is an ethical technology company focused on mobile-first technology that aims to bring back privacy to users, trust in online content and sustainability to the digital marketplace. Through its portfolio of digital mobile apps, Bubblr's next-generation mobile ecosystem and platform partners with publishers to address challenges related to free online content, while protecting end-users from data harvesting and manipulation. These ecosystems connect into a new model for online search, which is a fair and sustainable ad-free marketplace. For more information, visit http://www.bubblr.com.
Important Cautions Regarding Forward Looking Statements
This press release contains forward-looking statements within the definition of Section 27A of the Securities Act of 1933, as amended, and such as in section 21E of the Securities Act of 1934, as amended. These forward-looking statements should not be used to make an investment decision. The words' estimate,' 'possible' and 'seeking' and similar expressions identify forward-looking statements, which speak only as to the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted, or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition, and other material risks.
Contact: Investors
Stanley Wunderlich
Launchpad IR
1-800-625-2236
1-516 729 3714
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