VNUE SECURES $1.5MM IN EQUITY FUNDING FOR STAGEIT ACQUISITION
VNUE, Inc. (OTC: VNUE) has secured $1.5 million in equity funding from GHS Investments for the acquisition of StageIt, Inc., a prominent ticketed livestream company. This funding may increase to a total of $3 million with an additional warrant issued to GHS. CEO Zach Bair expressed confidence that this transaction marks a significant advancement for VNUE, enhancing its offerings in the live music space. The acquisition is expected to finalize shortly, positioning VNUE to integrate StageIt into its artist-centric services.
- Secured $1.5 million in equity funding from GHS Investments.
- Potential total funding of $3 million enhances financial stability.
- Acquisition of StageIt expected to expand VNUE's livestream offerings.
- Strengthens VNUE's position in the live music technology market.
- Funding reliance on external investments could pose risks.
- Integration of StageIt may present operational challenges.
NEW YORK, Jan. 6, 2022 /PRNewswire/ -- VNUE, Inc. (OTC: VNUE) announced today that it has closed on an additional
"We are excited that GHS Investments saw this opportunity and came on board to provide the fuel required to complete this very important transaction," said Zach Bair, CEO. "This is yet another step up the ladder for VNUE, and a massive leap forward in our business execution."
StageIt is one of the oldest and most well-known ticketed livestream companies. VNUE is acquiring StageIt, and will implement the platform alongside its existing artist-centric products and services.
More details concerning today's announcement may be found here, via the Company's Form 8-K filing: https://bit.ly/3qYwGN3.
About VNUE, Inc. (www.vnue.com)
VNUE, Inc., (OTC: VNUE) is a multi-faceted music technology company dedicated to monetizing the live music experience for artists, labels, writers, and publishers, with products such as its set.fm instant content distribution platform (www.set.fm), exclusive license partner and "instant live" pioneer DiscLive (www.disclive.net), and protecting the rights of artists and writers with the company's Soundstr music recognition technology (MRT) (www.soundstr.com). The veteran entrepreneurs, artists and songwriters behind VNUE, led by music and tech entrepreneur and recording artist Zach Bair (www.zachbairmusic.com), are passionate about the future of their industry and ensuring that rights holders' value is not lost amid always-changing technology. VNUE also holds a
About StageIt (www.stageit.com)
StageIt, the premier online experience connecting artists and their fans, is a web-based live streaming platform and vibrant community. Founded in 2009 for artists, by artists, StageIt is on a mission to help performers navigate the intricacies of the online live streaming space, providing a stage for every creator and a front row seat for every fan. As an early industry leader StageIt offers a platform for artists to perform live, interact with fans, and monetize shows, while creating unique experiences for fans. To learn more visit stageit.com or follow on Instagram, Facebook and Twitter.
Safe Harbor
This press release may contain forward looking statements which are based on current expectations, forecasts, and assumptions that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues, statements related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the SEC. Among other matters, the Company may not be able to sustain growth or achieve profitability based upon many factors including but not limited to general stock market conditions. Reference is hereby made to cautionary statements set forth in the Company's most recent SEC filings. We have incurred and will continue to incur significant expenses in our expansion of our existing as well as new service lines noting there is no assurance that we will generate enough revenues to offset those costs in both the near and long term. Additional service offerings may expose us to additional legal and regulatory costs and unknown exposure(s) based upon the various geopolitical locations we will be providing services in, the impact of which cannot be predicted at this time.
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SOURCE VNUE, Inc.
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