MIAMI, July 29, 2016 /PRNewswire/ --
Next Group Holdings, Inc. (OTCQB: NXGH) (the "Company") today announces that it has signed definitive Agreements with 4 separate Finance Groups that hold an aggregated value of $713,250.00 in Convertible Notes.
NXGH has reached agreements with Cerberus Finance Group, Ltd., LG Capital Funding, LLC, Mountain Ranch partners, Inc. and Quorum Holdings, LLC to buy back the remaining Convertible Notes.
The Note amounts are: $131,250 for Cerberus Finance Group, Ltd., $357,000 for LG Capital Funding, LLC, $100,000 for Mountain Ranch partners, Inc. and $125,000 for Quorum Holdings, LLC.
"Next Group Holdings, Inc. has reached a certain level of success and now we believe that we need to take control of our finances and show support to our shareholders," said Arik Maimon, NXGH's Chairman and CEO. "This repurchase of financial instruments will avoid the possibility of these note being converted to shares at abnormally high rates due to the current value of NXGH on the OTCQB exchange.", added Maimon.
"These financial groups have been instrumental in supporting Next Group Holdings, Inc. through its development and we are truly grateful for their support" said Michael De Prado NXGH's President & COO. "We have faith in the future of NXGH and we want to show our shareholders that we are willing and able to stand up for our future." added De Prado.
About Us: NXGH is a corporation headquartered in Miami, Florida, which, through its operating subsidiaries, engages in the business of using proprietary technology and certain licensed technology to provide innovative mobile banking, mobility, and telecommunications solutions to underserved, unbanked, and emerging markets. NXGH's principal executive offices are located at 1111 Brickell Avenue, Suite 2200, Miami, Florida 33131, and its telephone number at that location is (800) 611-3622. NXGH's web address is http://www.nextgroupholdings.com.
THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS", AS THAT TERM IS DEFINED IN SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. STATEMENTS IN THIS NEWS RELEASE, WHICH ARE NOT PURELY HISTORICAL, ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE. EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS"ESTIMATE", "ANTICIPATE", "BELIEVE", "PLAN" OR "EXPECT" OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS CONTAINED IN THIS NEWS RELEASE INCLUDE STATEMENTS RELATING TO OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY.
SOURCE Next Group Holdings, Inc.