ORLANDO, Florida, November 3, 2016 /PRNewswire/ --
VIVA Entertainment Group, Inc. (OTC MARKETS: OTTV), a global entertainment and technology company connecting content owners and video distributors to deliver premium content on any smart device, is pleased to announce it has received $3mm of financing commitments which include a combination of debt instruments and warrant coverage to be issued. Of that amount approximately $400k has been received by the Company. Led by Greentree Financial Group and The Brewer Group, the financing will support content acquisition, sales, marketing and advertising of the Company's over-the-top (OTT) offering, including the rollout of the mobile app that will be available on Apple devices as well as Android operating systems. Additionally, the Company is working on a commercial and residential set box unit and a series of projects thereafter.
Mr. Johnny Falcones, Founder and CEO of VIVA stated, "We are pleased to have attracted this funding from Greentree Financial Group and The Brewer Group. We now have ideal strategic financial partners for this phase of our global rollout and launch. Global television and entertainment on demand are provided by our integrated OTT platform. By combining live global TV, 2,000 radio stations, and video on demand (VOD) with the most recent movies, our path to growing revenues is clear. Additionally, with this funding, VIVA intends to install its first, full-scale, hotel entertainment package. We are currently in negotiations with a large prominent hotel group in the greater Miami area to provide VIVA's OTT service to approximately 3,000 hotel rooms. The in room entertainment package will provide live streaming global TV, 2000 radio stations powered by iHeart and include VOD revenue share with the hotels at an average gross price of $5.99-$12.99 per movie. The hotel demographic for this market is largely driven by Latin American, Canadian and European travelers who will experience the ultimate in room entertainment. Our real time streaming global TV is perfect for the South Beach and Miami market place."
"We are excited by the prospects of our investment in VIVA," commented Robert C. "Chris" Cottone, Vice President of Greentree. "We believe the Company's technology serves the evolving demands of today's mobile and sophisticated consumer. The Company positioned itself at the right place, at the right time, and can help fundamentally change the way the world watches television today. VIVA's management team, along with key strategic partners, has a clear vision and a well-structured plan to deploy VIVA's OTT offering and meet market demand."
"We believe this technology can have a significant impact on the rapidly growing OTT market. Today's savvy consumer begrudges the cable box while still demanding content from around the world. VIVA and its management team have made those modern consumer needs their sole focus and developed an OTT solution that is both cost-effective and technologically superior," said Ambassador Jack Brewer, CEO and Portfolio Manager of The Brewer Group Companies, and former National Football League (NFL) player (2002-2006), who is co-funding VIVA along with Greentree.
As part of additional financial commitments, Greentree and Brewer have acquired the previously disclosed convertible note that was due on Oct. 6th, 2016. 'This is an important move as the Company focuses on building shareholder value and launching our much anticipated OTT app. We are also excited to host our first investor conference call scheduled for 1:00PM EST on Monday, Nov. 7th" concluded Mr. Falcones. The call in number is (515) 604-9000, access code 754091.
About VIVA Entertainment Group, Inc.
VIVA Entertainment Group, Inc. is a global entertainment and technology company connecting content owners and video distributors to deliver premium content on any smart device, and any television. VIVA has developed an over-the-top (OTT) system through which television services are delivered using the Internet protocol suite over a network such as the Internet, instead of being delivered through traditional terrestrial, satellite signal and cable television formats. VIVA, your entertainment partner, provides subscribers access to the content they want anywhere, anytime. With a WiFi connection our customers can watch live TV from around the world including TV shows, as well as movies on demand, tele-video conference and many other interactive features. Independent and major film studios, television networks, telecoms, cable companies, and emerging ISPS partner with VIVA for enhanced capabilities in multi-platform video distribution. The only true end-to-end provider of premium content technology services, VIVA looks to license and deliver to traditional and OTT video distributors across the world. VIVA is a publicly traded company under the stock symbol OTTV. VIVA Entertainment's website can be found at http://www.vivagroup.tv
About Greentree Financial Group
With offices in Cornelius, NC and Plantation, FL, Greentree Financial Group. makes principal investments into public and private growth companies including PIPE funding, debt, bridge capital, as well as providing consulting services encompassing restructuring capital formation, effecting stock and asset purchases or sales, annual and quarterly reports filing, edgarizing and XBRL of SEC documents. For more information visit http://www.gtfinancial.com
About The Brewer Group:
The Brewer Group, Inc. (TBG) makes principal investments into public and private growth companies, strategically investing in small growth companies that are making a positive impact around the globe. TBG helps provide debt and equity capital to numerous companies spanning various sectors ranging from Biotechnology & Healthcare; Sustainable Technology & Consumer Products to Education; Sports & Entertainment; and Finance within its ever-expanding portfolio. For more information, visit: http://www.thebrewergroup.com
Since 2002, CEO Amb. Jack Brewer has been actively involved with the production of numerous television, digital media and radio broadcasts internationally, as well as maintaining a regular presence in print media. Amb. Brewer serves as a contributor on various major multinational networks including CNBC, FOX and CNN, appearing numerous times a year, as well as a contributing writer for The Business Journals. As an Ambassador for Peace & Sport at the United Nations, he is a highly successful global business executive and philanthropist possessing a unique combination of expertise in the fields of global advisory, sports consulting, sports business, finance and foreign affairs. Twitter: @JackBrewerBSI Instagram: @JackBrewerBSI Snapchat: jackbrewer42 https://www.linkedin
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted. Any securities offered or issued in connection with the above-referenced merger and/or investment have not been registered, and will be offered pursuant to an exemption from registration.
This press release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "should," "plans," "explores," "expects," "anticipates," "continue," "estimate," "project," "intend," "anticipate," "estimate," "expect," "intend," and "project" and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. Some of these risks and uncertainties are identified in the company's filings with the SEC. The occurrence of any of these risks and uncertainties could have a material adverse effect on the company's business, financial condition, and results of operations.
SOURCE VIVA Entertainment Group, Inc