BEBUZEE (UK), LTD. ANNOUNCES ACQUISITION OF ENGAGE MOBILITY, INC. & PROVIDES ADDITIONAL STOCKHOLDER UPDATES
Bebuzee (UK), Ltd. has completed its acquisition of Engage Mobility, Inc. (OTC Pink: ENGA), marking a significant step towards becoming a publicly-traded entity in the U.S. This acquisition allows Bebuzee to utilize Engage Mobility as a vehicle for its social network platform, leveraging its proprietary technology. The new management team from Bebuzee will lead the public company, with plans to rebrand it. The company is focused on attracting additional capital and minimizing stockholder dilution while maintaining transparency with shareholders regarding future developments.
- Acquisition of Engage Mobility enables Bebuzee to become publicly traded and attract more capital.
- Bebuzee's platform has over 40 million users, representing a substantial market opportunity.
- Management aims to minimize stockholder dilution and maximize external valuation.
- None.
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LONDON, UNITED KINGDOM, Dec. 15, 2021 (GLOBE NEWSWIRE) -- The executive management of Bebuzee (UK), Ltd. announced today that it has consummated its acquisition of the controlling stock interest in Engage Mobility, Inc. (OTC Pink: ENGA). As a wholly-owned subsidiary of Bebuzee (UK), Ltd., the publicly-traded company will operate as the primary commercial vehicle for Bebuzee’s social network platform through a series of licenses of the company’s proprietary intellectual property. In connection with the acquisition of Engage Mobility, the respective management of Bebuzee (UK), Ltd. have been appointed to the same positions within the public company.
“This is a tremendous step forward in the growth of the Bebuzee brand,” stated Joseph Onyero, Founder and Chief Executive Officer of Bebuzee (UK), Ltd and newly appointed Chief Executive Officer of Engage Mobility. He continued, “as part of our long-term strategic initiatives, we view becoming publicly-traded as a means with which to attract additional capital to the corporate group in furtherance of our growth objectives.” Founded in 2012, and named one of Britain’s top fifty technology startups, Bebuzee offers a fully-built platform which has boasted over forty million users.
In connection with the acquisition of Engage Mobility, management will endeavor to change the public company’s name and ticker symbol to reflect the Bebuzee brand, subject to customary regulatory approvals. At the same time, management does not foresee the need for a reverse split of Engage Mobility’s common stock. Mr. Onyero continued, “we are committed to minimizing stockholder dilution including maximizing our external valuation prior to raising additional capital.”
Bebuzee is committed to stockholder transparency and will seasonably provide further stockholder updates via press release, social media and the company’s website (www.Bebuzee.com) regarding both the matters disclosed herein and other developments as the year comes to a close.
Bebuzee (UK), Ltd.
Based in London, United Kingdom, Bebuzee (UK), Ltd. offers a unique, proprietary video-sharing platform and streaming service that allows our members to watch a wide variety of content such as movies, series, documentaries and talk shows on any internet-connected device. Bebuzee’s technology scans the world’s news, features and information flow to give its dedicated readers the best of the Internet in one place. A one-stop platform for breaking news, interesting and important blogs, videos, and photos. Bebuzee offers an addictive resource for those millions of people without time to scavenge the Internet and other sources for news and information.
Statements in this press release that are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although Bebuzee (UK), Ltd. and Engage Mobility, Inc. believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, the companies are unable to give any assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include the company’s ability to adequately commercialize its social media platform.
Contact
Bebuzee (UK), Ltd.
107-111 Fleet Street
London, England EC4A 2AB
www.Bebuzee.com
pr@bebuzee.com
FAQ
What is the significance of Bebuzee acquiring Engage Mobility, Inc. (ENGA)?
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How does Bebuzee plan to minimize stockholder dilution following the acquisition?
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