Music Licensing, Inc. (OTC: SONG) Announces Strategic Developments and Proposed Changes

Rhea-AI Summary

Music Licensing, Inc. (MLI) has disclosed significant developments in a Form 1-U filed with the U.S. Securities and Exchange Commission on December 8, 2023. The anticipated resignation of CEO Mr. Jake P. Noch was initially reported, but subsequent to the disclosure, Mr. Noch has decided to remain in his current roles within the Company. MLI is actively recruiting additional C-level executives to bolster its leadership team and is proposing a transformative change to reposition itself as a diversified holding company, aiming to expand its range of activities without restricting potential for future growth.

Naples Florida, Jan. 10, 2024 (GLOBE NEWSWIRE) -- Music Licensing, Inc. (the "Company") has officially disclosed significant developments in a Form 1-U filed with the U.S. Securities and Exchange Commission ("SEC") on December 8, 2023.

Initially, the Company reported the anticipated resignation of Mr. Jake P. Noch, Chief Executive Officer. However, subsequent to the initial disclosure, Mr. Noch, following consultations with legal counsel and discussions with the Board of Directors, has conveyed his decision to remain in his current roles within the Company, retracting the previously announced resignation.

In light of these developments, Music Licensing, Inc. is actively working towards bolstering its leadership team. The Company is in the process of recruiting additional C-level executives to fortify its capabilities in managing day-to-day operations. The Board of Directors remains committed to enhancing the overall leadership structure of the organization.

Furthermore, Mr. Noch is set to propose a transformative change to the Company's purpose to the Board of Directors. The proposed change involves repositioning Music Licensing, Inc. as a diversified holding company. This strategic shift aims to grant the Company the flexibility to establish other wholly owned or partly owned subsidiaries and engage in strategic investments. The proposed change is designed to expand the Company's range of activities without restricting its potential for future growth.

The Company is dedicated to keeping stakeholders informed as the situation progresses. Updates will be provided as these proposed changes navigate through the appropriate corporate governance channels.

About Music Licensing, Inc. (OTC: SONG)  (ProMusicRights.com)

Music Licensing, Inc. (OTC: SONG), also known as Pro Music Rights, is the 5th public performance rights organization (PRO) to be formed in the United States. Its licensees include notable companies such as TikTok, iHeart Media, Triller, Napster, 7Digital, Vevo, and many others. Pro Music Rights holds an estimated market share of 7.4% in the United States, representing over 2,500,000 works that feature notable artists such as A$AP Rocky, Wiz Khalifa, Pharrell, Young Jeezy, Juelz Santana, Lil Yachty, MoneyBagg Yo, Larry June, Trae Pound, Sause Walka, Trae Tha Truth, Sosamann, Soulja Boy, Lex Luger, Trauma Tone, Lud Foe, SlowBucks, Gunplay, OG Maco, Rich The Kid, Fat Trel, Young Scooter, Nipsey Hussle, Famous Dex, Boosie Badazz, Shy Glizzy, 2 Chainz, Migos, Gucci Mane, Young Dolph, Trinidad James, Chingy, Lil Gnar, 3OhBlack, Curren$y, Fall Out Boy, Money Man, Dej Loaf, Lil Uzi Vert, and countless others, as well as Artificial Intelligence (A.I.) Created Music. Additionally, Music Licensing, Inc. (OTC: SONG) owns royalty stakes in musical works by artists such as Elton John, Lil Nas X, Miley Cyrus, Lil Wayne, XXXTentacion, Halsey, and numerous others.

Forward-Looking Statements:

This press release contains certain 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, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Music Licensing, Inc. & Pro Music Rights, Inc. to accomplish its stated plan of business. Music Licensing, Inc. & Pro Music Rights, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by Pro Music Rights, Inc., Music Licensing, Inc., or any other person.

Non-Legal Advice Disclosure:

This press release does not constitute legal advice, and readers are advised to seek legal counsel for any legal matters or questions related to the content herein.

Non-Investment Advice Disclosure:

This communication is intended solely for informational purposes and does not in any way imply or constitute a recommendation or solicitation for the purchase or sale of any securities, commodities, bonds, options, derivatives, or any other investment products. Any decisions related to investments should be made after thorough research and consultation with a qualified financial advisor or professional. We assume no liability for any actions taken or not taken based on the information provided in this communication

Contact: investors@ProMusicRights.com

SOURCE: Music Licensing, Inc.

FAQ

What significant developments has Music Licensing, Inc. (MLI) disclosed?

MLI has disclosed significant developments in a Form 1-U filed with the U.S. Securities and Exchange Commission on December 8, 2023.

Who was anticipated to resign from MLI?

CEO Mr. Jake P. Noch was anticipated to resign from MLI.

What decision did Mr. Noch make following the initial disclosure?

Mr. Noch, following consultations with legal counsel and discussions with the Board of Directors, has decided to remain in his current roles within the Company, retracting the previously announced resignation.

What strategic change is MLI proposing?

MLI is proposing a transformative change to reposition itself as a diversified holding company, aiming to expand its range of activities without restricting potential for future growth.