VNUE, Inc. a live entertainment music service company which brings bands and fans together by capturing professional quality audio and video recordings of live performances, is pleased to announce that on February 18, 2016 it entered into an Equity Purchase Agreement (the “Agreement”) with Tarpon Bay Partners LLC (“Tarpon”), an institutional investor. The Agreement establishes a new $10,000,000 credit financing mechanism, the proceeds of which will be used to fund acquisitions for VNUE, continued development of VNUE’s platform, and for general working capital purposes.
Pursuant to the Agreement, Tarpon will commit to purchase up to $10,000,000 of the Company’s common stock over the next 24-months. The Company is required to register shares of its common stock with the Securities and Exchange Commission (“SEC”), intended to be resold by Tarpon as the Company accesses the funds in connection with the Agreement. The Company is required to file a registration statement with the SEC, and proceeds will become available to the Company upon the registration statement being declared effective by the SEC. Details of the Agreement can be found on the Company’s current report filed on Form 8-K with the SEC on February 18, 2016.
The Agreement was arranged by Southridge Advisors II LLC (“Southridge”). Based in Ridgefield, CT, Southridge is a diversified financial holding company specializing in direct investment and advisory services to small and middle market companies, dedicated to helping clients achieve their intended goals. Since 1996 the structured finance team of Southridge has made direct investment of over $1.8 billion into growth companies globally. Its expertise lies in its ability to customize a financing plan for the prospective client and then execute on that plan without fail. For more information on Southridge, visit: http://www.southridge.com.