FOR IMMEDIATE RELEASE - R Three Technologies Inc. (OTCMKTS: RRRT) Announces LOI with First of Several Strategic Acquisitions

Rhea-AI Summary

R Three Technologies (OTCMKTS: RRRT) announced plans to acquire VirtualCons, LLC, with Michael A. Mota becoming President of R3T's Entertainment Division. Mota's prior successes include significant revenue growth at Alex & Ani and Seven Swords Media. The acquisition aims to enhance R3T's offerings in digital and live fan experiences through the VirtualCons platform, facilitating celebrity interactions. This strategic move is part of R3T's broader acquisition strategy, positioning the company as a leader in the virtual entertainment sector.

Positive

• Acquisition of VirtualCons positions R3T as a leader in the virtual entertainment space.
• Michael Mota's experience in marketing and technology may drive growth and innovation.
• Opportunity to enhance technology and unique fan experiences with the planned acquisition.

Negative

• None.

BEVERLY HILLS, CA, Feb. 15, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- R Three Technologies Inc. (OTCMKTS: RRRT) (R3T) has announced its first LOI with the first of several strategic acquisitions in plans to acquire VirtualCons, LLC with their current CEO, Michael A Mota, planned to become President of R3T’s Entertainment Division.

“Today we announce the plans to acquire VirtualCons, LLC. This is one of many acquisitions we are making over the next few months at R3T. I have had the privilege to work with Michael Mota, CEO of VirtualCons, for several years,” said William Benson, CEO of R3T. “He set a vision in place for VirtualCons and it has come true in less than 2 years. His background in the marketing world, alongside his experience in the entertainment and technology space, is going to assist R3T in becoming the leader in the industry. I am delighted to also announce today that we have plans to name Mr. Mota President of R3T’s Entertainment Division. Together, we will assemble a world class executive team that will change the way people view entertainment with cutting edge technology.”

VirtualCons, LLC., a Florida Based Company with the tagline, For the Fans...By the Fans, is planned to be acquired by R3T Technologies of Beverly Hills, California. Their Cutting–Edge conventions provide a fan experience like no other, connecting fans with celebrities through Meet & Greets, Autographs and One-On-One discussions.  VirtualCons, available now in the Apple and Android stores, is designed and developed to encourage community connection both digitally and on the ground. The online platform is designed for live & virtual events, while delivering a powerful social platform, giving users everything they want in one single app.  It also allows for users to login and experience a streaming platform with exclusive content that can be viewed on any mobile device, desktop computer and smart TV, no matter where you are in the globe.

Michael Mota, formerly Vice President of Marketing at Alex & Ani and Seven Swords Media, helped lead both companies onto Inc. magazine's "500 Fastest Growing Companies" and "Fastest Growing Companies in Rhode Island" lists.  In two years, Seven Swords' annual sales rose from $500 thousand to over $22 million.  Alex and Ani grew from a small, regional company with $2 million in sales into a global lifestyle brand with annual revenues in excess of $250 million and an evaluation of $1 billion.

“Today is a great day and I want to thank William Benson for having the vision to plan to acquire VirtualCons and for planning to bring me on as President of R3T’s Entertainment Division. With this strategic acquisition, we will be positioned to be a world leader in the entertainment and technology space,” said Michael Mota. “It has been an amazing few years building the technology and partnering with icons like Ice-T and Armand Assante, to name a few. Hundreds of thousands of fans have had the opportunity to meet the cast of the Sopranos, Boxing legends, artists, musicians and celebrities using an app that connects people from different parts of the globe. All of this was created during a global pandemic. With this planned acquisition, we will have the resources needed to launch Phase 2 of our app. This will allow us to refine our cutting-edge technology, provide more unique opportunities for fan experiences, and produce events that will be showcased on our newest streaming platform.”

With this planned acquisition, R3T instantly becomes a leader in the Virtual World.  Having just announced William Benson, the planned announcement of Michael Mota becoming President of the Entertainment Division showcases the company's acceleration of building a global company.  This planned initial acquisition is one of many that will be announced over the next few months, which now showcases to shareholders that the momentum is building and the strategy is being executed.

About VirtualCons, LLC.

VirtualCons is a global media, entertainment and technology company connecting fans with celebrities and facilitating community connection through live events, both digitally and on the ground.  The online platform specializes in hosting live-stream events and performances while providing a space for both exclusive interactions and premium content, giving users everything they want in one single place. They deliver memorable events in every niche through meaningful experiences that our audience remembers for the rest of their lives.  Welcome to VirtualCons.

About R-Three Technologies Inc.

R Three Technologies (R3T) (OTCMKTS: RRRT) is the home of cultural innovation. Businesslines include technology, consumer beverage and food products, entertainment and lifestyle brands.

For more information, please contact William Benson, CEO & Director of R3T
email: william@r3tgroup.com| website: www.r3tgroup.com

Forward-Looking Statements

This press release includes several forward-looking statements that reflect Management’s current views with respect to future events and financial performance. You can identify these statements by words such as “may”, “will”, “expect”, “anticipate”, “believe”, “estimate”, and “continue” or similar words. Those statements include statements regarding the intent, belief or current expectations of us and members of our management team as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risk and uncertainties, and that actual results may differ materially from those contemplated by such forwarding-look statements. Readers are urged to carefully review and consider the various disclosures made by us in this press release and our filings as posted on the OTC Markets. Important factors currently known to Management could cause actual results to differ.

Media Only Contacts:
Michael Christofaro
michaelc@r3tgroup.com

FAQ

What is the purpose of R3T's acquisition of VirtualCons?

The acquisition aims to enhance R3T's offerings in virtual fan experiences and enable growth in the entertainment sector.

Who is Michael A. Mota, and what is his role at R3T following the acquisition?

Michael A. Mota will become President of R3T's Entertainment Division, leveraging his marketing and technology experience.

What impact will the acquisition of VirtualCons have on R3T's business?

The acquisition is expected to position R3T as a leader in virtual events and improve community connections through cutting-edge technology.

When was the acquisition of VirtualCons announced by R3T?

The acquisition was announced on February 15, 2022.