SMC/Genesis Financial, Provider of Integrated Digital Financial Services, Completes $2.0 Million Institutional Bridge Financing $1.5 Million through AD Asset Management LTD

Rhea-AI Summary

SMC Entertainment, Inc. (OTC: SMCE) has secured $2,000,000 in bridge financing, with $1,500,000 provided by AD Asset Management LTD and the remainder from a boutique hedge fund. This funding will support acquisitions, financial audits, and regulatory compliance to become a Reporting Issuer with the SEC. SMC aims to raise an additional $6-10 million for future U.S. acquisitions. Genesis Financial, SMC’s subsidiary, offers digital financial services and targets growth within Australia's wealth management sector.

Positive

• Secured $2,000,000 in bridge financing to enhance business operations.
• Funding will facilitate acquisitions and financial audits.
• Plans to become a Reporting Issuer with the SEC, potentially increasing stock visibility.
• Additional funding discussions aimed at raising $6-10 million for expansion.

Negative

• None.

Charleston, SC, Feb. 03, 2022 (GLOBE NEWSWIRE) -- SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC: SMCE) and its majority-owned subsidiary, Genesis Financial, Inc. (“Genesis”) - an integrated financial technology company (“Fintech”) are pleased to announce the closing of $2,000,000 bridge financing (“Bridge Financing”) The company has secured $1,500,000 with AD Asset Management LTD through its AD High Yield Income Fund the balance was secured with a boutique hedge fund. Both the International Asset Management Fund and the boutique hedge fund group specialize in FinTech development globally.

The Bridge Financing will be utilized in multiple ways by SMCE. It will enable us to begin pursuing accretive acquisitions and complete SMC’s financial audits. Furthermore, it will provide us the working capital necessary to attain a Reporting Issuer with the SEC and up list to a senior exchange. The Company has received the first tranche of the Bridge Financing and working towards its milestones in the coming weeks. The Company is in discussions with multiple funding groups to raise additional capital to facilitate future US-based acquisitions. Round one funding is estimated at $6-10 million in new capital.

About Genesis Financial, Inc.
Genesis, with 23 employees under its purview along with 120 financial consultants, advisors, and representatives, is a fully integrated financial technology company with a full suite of digital financial services solutions. Genesis, focusing on fintech-powered wealth management services, operated its business through two Australian regulated entities in wealth management, tax and accounting advisory services. The two operating subsidiaries are the Ballast Group and The Financial Link Group. For more information, visit www.ballast.com.au and www.tflg.com.au.

The Australian Wealth Management industry has over 25,000 financial advisors managing 2.2 million investors. The annual fees generated by the Wealth Management industry is close to $3.9 billion. According to AITE (2020) at least 10 million adults are underserved or not served at all by the Australian Financial Advisors. Genesis has firmly positioned itself to acquire and consolidate to expand in Australia's fragmented Independent Dealer Group business sector.

About SMC Entertainment, Inc.
SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity. For more information on SMC, visit www.smceinc.com.

Press Release Contact:
Erik Blum
President
SMC Entertainment, Inc.
ron.hughes.operations@gmail.com

Safe Harbor Statement
This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and 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 risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

FAQ

What is the significance of SMC Entertainment's $2 million bridge financing?

The $2 million bridge financing is crucial for SMC Entertainment to support future acquisitions, complete financial audits, and aim for SEC reporting compliance, which may enhance investor confidence.

Who provided the bridge financing for SMC Entertainment?

The bridge financing of $2 million was primarily secured from AD Asset Management LTD and a boutique hedge fund, with $1.5 million from AD Asset Management.

What will SMC Entertainment use the bridge financing for?

SMC Entertainment will use the bridge financing for pursuing acquisitions, completing financial audits, and working capital to become a Reporting Issuer with the SEC.

How does SMC Entertainment plan to raise additional capital?

SMC Entertainment is in discussions with multiple funding groups to raise an additional $6-10 million for future acquisitions in the U.S.