MeeMee Media Inc. (OTCQB: MEME) Announces Completion of $1 Million Private Placement
LOS ANGELES, CA, Feb. 12, 2014 /PRNewswire/ - MeeMee Media Inc. (the "Company" or "MeeMee" ) (OTCQB: MEME), a development stage company focused on the global mobile and digital media business, announces it has closed a $1 million USD private placement by way of a Secured Promissory Note ("Note") with an entity controlled by Mr. Robert C. Kopple of Los Angeles, California. The net proceeds of the Note will be used for general working capital, including legal, accounting, diligence and banking fees required to complete the previously announced, planned acquisitions of the Latin American mobile content company and Vida Media.
Mr. Kopple is an experienced investor, businessman, and lawyer. He is a senior partner in a law firm based in Los Angeles, California and manages interests in real estate and operating companies.
Martin J. Doane, Executive Chairman of MeeMee, commented on the private placement:
"We are gratified that an investor and professional of Mr. Kopple's caliber has agreed to support the Company through its development phase. His confidence in MeeMee's business plan and overall vision, coupled with his well-regarded constructive approach to venture opportunities, fit perfectly with MeeMee's needs at the present time."
About MeeMee Media Inc: Headquartered in Los Angeles, CA, MeeMee intends to use the Latin American mobile platform as a launch pad for building a US based global-scale digital entertainment, advertising and marketing enterprise. MeeMee's development strategy combines organic growth initiatives with targeted acquisitions in strategic markets and industry verticals around the world with a current focus on opportunities in the Americas.
Forward-Looking Statements. This press release contains forward-looking statements. These forward-looking statements are identified by, among other things, the words "anticipates", "believes", "intends", "expects", "plans", "projects", "thinks" and similar expressions. Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by us in the reports we file with the Securities and Exchange Commission, including the risk factors that affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Additionally, the completion of our planned acquisition is subject to numerous conditions, many of which are outside of our control. We cannot provide any assurances that the Company will be able to complete the acquisition. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
SOURCE MeeMee Media Inc.