CMG Holdings Group Inc Chairman Provides Update

CHICAGO, July 13, 2020 /PRNewswire/ -- CMG Holdings Group, Inc. (OTC: CMGO) I would like to take this opportunity to bring the shareholders of CMGO up to date with the company's current status. As most of you are aware, last week CMG became a fully reporting SEC company. Much time and effort were necessary to make this happen, but it has been accomplished - and we are very pleased. We are also pleased to report some activity is beginning to percolate for XA once again. XA is working to organize and produce a large online project for a number of brand name corporate clients, designed to safely reach consumers while providing them with an experience that has the immediacy and excitement of a large-scale public event. As negotiations for the proposed production of this project are ongoing and not yet complete, the names of the corporate entities involved cannot yet be disclosed. When negotiations conclude, XA will have a solidly profitable job for the 3^rd quarter along with some strong PR in a new field.

While XA has been reinventing its business model to satisfy the strictures of pandemic restrictions, we have been doing due diligence on a company that we are considering entering in to a joint venture with in a business that I believe could be very timely. They are nicely profitable and have quite a significant amount of room to be become very profitable and expand their business dramatically with more capital and greater exposure. The next 30 days should let us know if a deal can be made. I will be back to you on this one.

Finally, I have been approached by a group out of Europe that has interest in rolling in to CMG and bringing an ongoing business in. I have had a number of discussions with them and conversations are ongoing. Their timeline is the 4th quarter and it could be a very nice fit for both companies. I will provide updates in all areas in the up-coming days. Now that CMG is fully reporting, all of the above mentioned projects and possibilities will be much easier to accomplish.

Disclosure Statement

Statements in this press release about our future expectations, including without limitation, the likelihood that CMG Holdings Group, Inc. will meet minimum sales expectations, be successful and profitable, bring significant value to its stockholders, and leverage capital markets to execute its growth strategy, constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and our actual results could differ materially from expected results. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law. CMG's business strategy described in this press release is subject to innumerable risks, most significantly, whether the Company is successful in securing adequate financing and materially decreases its convertible debt. No information in this press release should be construed in any form shape or manner as an indication of the Company's future revenues, financial condition or stock price.

Contact:
Glenn Laken
CEO
CMG Holdings Group, Inc.
(773)-770-3440
[email protected]

SOURCE CMG Holdings Group, Inc.