WOWIO Secures $5M Financing Commitment
Prefered Equity Investment commitment will fund technology development and
WEST HOLLYWOOD, CA / ACCESSWIRE / April 14, 2015 / WOWIO, Inc. (WWIO), a digital media company with a patented process for inserting ads into eBooks and a mobile eBook distribution platform, today announced that the company has secured a $5 million preferred equity investment commitment to further advance its technology development, fund expansion efforts and other working capital needs. The Preferred Equity commitment is being provided by Premier Venture Partners, LLC, a Los Angeles-based private equity firm. Terms and conditions of the investment can be found on Form 8-K, filed with the Securities and Exchange Commission, found here:
http://www.sec.gov/Archives/edgar/data/1559754/000149315215001297/form8-k.htm.
"This funding commitment comes at a critical time for the company as we move from the technology development stage into an execution-stage entity," said Brian Altounian, CEO of WOWIO. "By having this commitment in place, we can be in control of our destiny when it comes to potential acquisitions and expansion efforts to further our goals. We are close to releasing our new platform and when we look out at the eBook distribution landscape, there are interesting opportunities that will make sense for us to evaluate more closely. With this financial support, we feel we will have more bargaining power and greater flexibility, creating shareholder value."
WOWIO holds a proprietary patent that allows for the insertion of advertising into eBooks, a mobile eBook distribution platform, and a proprietary mobile ad network, providing the digital publishing distribution channel as a viable alternative to that of other content distribution outlets.
About WOWIO, Inc.
WOWIO, Inc., (OTCBB: WWIO) is a technology development company with a patented process and a proprietary mobile ad-delivery platform that will disrupt the eBook distribution landscape by exploiting a previously untapped marketplace: Ad-Supported eBooks! Our exclusive ownership of an issued patent that governs this opportunity allows us to expand our reach as a digital media company far beyond producing and distributing content across multiple platforms. To learn more about WOWIO, please visit our corporate website at http://www.studiowdigital.com.
Corporate contact: Shareholder Inquiries:
Brian Altounian Juan Ferreira
(310) 807-8188 (407) 399-8190
baltounian@wowio.com jferreira@ncsecurities.com
About Giantsource
Giantsource designs, defines and develops digital entertainment. We build metadata management systems, digital supply chain platforms, digital asset management systems, and rights management all the way up to consumer destinations and VOD platforms. We are based in Los Angeles because we love Movies, Music and Games. In short, we love entertainment. For more information about Giantsource, Inc., visit them at http://www.giantsource.com
Corporate Contact:
Billy Niemeyer
Owner
(310) 279-5092
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Any forward-looking statement made by us in this release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.