Deal with Southridge funds development of company’s business platform
By Devika Patel
Knoxville, Tenn., Aug. 18 – Momentous Entertainment Group Inc. said it has arranged a $3 million equity purchase agreement with Southridge Partners II, LP.
Proceeds will be used for development of Momentous' business platform and general working capital purposes.
“This financing allows us to continue to grow and expand both our content development, video streaming project and initiate our live event projects,” chief executive officer Kurt Neubauer said in a press release. “It also substantially increases our capacity to carry out our current business plan and accelerates our expansion strategy.”
The marketing and media company is based in Sugar Land, Texas.
| Issuer: | Momentous Entertainment Group Inc.
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| Issue: | Equity purchase agreement
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| Amount: | $3 million
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| Warrants: | No
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| Investor: | Southridge Partners II, LP
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| Pricing date: | Aug. 18
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| Stock symbol: | OTCBB: MMEG
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| Stock price: | $0.01 at close Aug. 17
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| Market capitalization: | $1.3 million
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