BEVERLY HILLS, Calif., Aug. 7, 2017 /PRNewswire/ -- LiveXLive Media, Inc. (OTC: LIVX) (the "Company"), one of the world's only premium internet networks devoted to live music and music-related video content, announced today that it has formally changed its company name from "Loton, Corp" to "LiveXLive Media, Inc." and has completed its reincorporation from the State of Nevada to the State of Delaware. The Company's ticker symbol, "LIVX," will remain unchanged.
Robert Ellin, the Company's Executive Chairman and President, said, "Our new name is part of a broader corporate strategy that reflects the Company's goal of becoming a leading destination for premium music video content on the internet. Our name change aligns our historical operations with our strategic acquisitions under one 'LiveXLive Media' corporate brand and preserves the goodwill associated with the 'LiveXLive' platform."
The Company's name change and change in jurisdiction of organization became effective August 2, 2017. Stock certificates previously issued for shares in Loton, Corp, the Nevada corporation, automatically represent shares in LiveXLive Media, Inc., the Delaware corporation, and stockholders are not required to exchange stock certificates as a result of the reincorporation. The reincorporation will have no material impact on the Company's management, employees, customers or its operations. The corporate headquarters will remain in Beverly Hills, California.
Mr. Ellin concluded, "Changing our corporate name to LiveXLive is important to us as we continue to execute on our growth strategy and seek to improve value to our stockholders. We have a strategic plan in place for 2017 that includes uplisting to a national securities exchange, which will allow us to tap into much broader capital market resources."
About LiveXLive Media, Inc.
LiveXLive Media, Inc. ("LiveXLive") is one of the world's only premium internet networks devoted to live music and music-related video content. Since LiveXLive's launch in 2015, LiveXLive has been building an online destination for music fans to enjoy premium live performances from music venues and leading music festivals around the world, such as Rock in Rio, Outside Lands Music and Arts Festival and Hangout Music Festival, as well as premium original content, artist exclusives and industry interviews. The LiveXLive platform has featured performances and content from some of the most popular artists in various music genres, including Rihanna, Katy Perry, Metallica, Duran Duran, Radiohead, Chance The Rapper, Bruce Springsteen, Major Lazer and Maroon 5.
All statements other than statements of historical facts contained in this press release are "forward-looking statements." These statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. These factors include uncertainties as to identifying, acquiring, securing and developing content, ability to attract and retain users, successfully implementing the Company's growth strategy, including relating to its technology platform, management's relationships with industry stakeholders, changes in economic conditions, competition, and other risks including, but not limited to, those described in the Company's Annual Report on Form 10-K for the year ended March 31, 2017 and its other filings and submissions with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof and the Company disclaims any obligations to update these statements except as may be required by law.
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SOURCE LiveXLive Media, Inc.