NEW YORK, May 5, 2021 /PRNewswire/ -- VNUE, Inc. (OTC: VNUE), a leading music technology company developing solutions to provide new revenue opportunities to recording and touring artists, record labels and the live merchandising industry, as well cutting edge technology for songwriters, music publishers, and rights holders to better monetize and protect their catalogs, is excited to announce that it has entered into a Common Stock Purchase Agreement (the "CSPA") with Triton Funds, LP ("Triton") (www.tritonfunds.com), the nation's largest student venture investment fund, for an investment by Triton in the Company's common equity of as much as $2 million. VNUE expects other investors to come on board as well, led by Triton.
Triton has agreed to invest up to $1 million in common stock of VNUE through the purchase of shares the Company has agreed to sell to Triton, subject to the terms and conditions set forth in the CSPA. In addition, in connection with the CSPA, Triton may invest up to an additional $1 million pursuant to warrant agreements.
Triton is primarily focused on investments that will have a lasting positive impact on the Millennial generation with a portfolio of both private and public companies.
Casey Barraza, an Analyst at Triton Funds, commented, "After speaking with key members of the management team like CEO Zach Bair, it was clear to the Triton Funds team that VNUE, Inc. has the 'secret sauce' needed to make a profound impact on the music industry and advocate for music artists. We hope that our investment will provide the Company with the capital needed to continue to develop and commercialize the Soundstr Technology."
Zach Bair, CEO and Chairman of VNUE, said, "Triton is an amazing and credible source of capital that will allow VNUE to continue the commercialization of our groundbreaking Soundstr Music Recognition Technology (MRT), and to further expand our "instant live" music recording and production model, particularly our digital platforms, and Soundstr as it relates to SaaS (software as a service). This investment represents a strong vote of confidence and validation from Millennial and Gen-Z investors about VNUE's direction and technology, and we look forward to proving them right over the coming years. After five years of receiving small amounts of funding, this finally provides fuel in the tanks to 'swing the bat' and fully execute to our plan."
For questions regarding this investment, or if you would like to invest, please contact the Triton Funds email at [email protected]
About VNUE, Inc. (www.vnue.com)
VNUE, Inc., (OTC: VNUE) is a multi-faceted music technology company dedicated to monetizing the live music experience for artists, labels, writers, and publishers, with products such as its set.fm instant content distribution platform (www.set.fm), exclusive license partner and "instant live" pioneer DiscLive (www.disclive.net), and protecting the rights of artists and writers with the company's Soundstr music recognition technology (MRT) (www.soundstr.com). The veteran entrepreneurs, artists and songwriters behind VNUE, led by music and tech entrepreneur and recording artist Zach Bair (www.zachbairmusic.com), are passionate about the future of their industry and ensuring that rights holders' value is not lost amid always-changing technology. VNUE also holds a 4.99% stake in RockHouse Live International, a new live music venue & restaurant chain that was recently launched in Clearwater Beach Florida, and which is expanding globally.
About TRITON FUNDS LLC
Triton Funds is the nation's largest student venture investment fund, managed entirely by students from UC San Diego located in Southern California. With $25M AUM, Triton Funds has taken an active part in both the San Diego ecosystem and nationwide, focusing on investments that will have a lasting positive impact on the Millennial generation with a portfolio of both private and public companies. The aim of Triton Funds is to create a student learning platform that will provide real-world experience and help bridge the gap between a STEM dominated university and Wall Street, helping students jumpstart their careers in finance, while providing strategic capitalization, business development support, and engineered exits to organizations with a viable future in the modern economy. Follow the Triton Funds story by visiting the Triton Funds website, Instagram, Twitter, or reach out directly via email. More information can be found at http://www.tritonfunds.com
SOURCE VNUE, Inc.