LA JOLLA, CA--(NewMediaWire - Sep 16, 2015) - AV1 Group,
Inc. (OTC PINK: AVOP) is pleased to announce announced today
that the Company has filed a Form D with the Securities and
Exchange Commission for a $2 million private placement under the
auspices of Rule 506(c) of Regulation D for accredited and
institutional investors. The placement has been structured by
offering 2million Class B Preferred Shares at the price of $1 per
share. The Class B Cumulative Redeemable Preferred Shares will pay
a twelve percent (12%) cumulative dividend each fiscal year, with a
sinking fund set up for the first year. The Class B Preferred
Shares are redeemable at 120% of the purchase price any time after
two years from date of issuance. The Company pays an 8% placement
commission to registered broker-dealers.
The Company intends to use the net proceeds from this
transaction to repurchase shares of its common stock; development
and launch of internally developed products and services; mergers
and acquisitions; and general working capital. Such stock
repurchases may be made in the open market, block trades or
privately-negotiated transactions. In connection with the
foregoing, the Company's Board of Directors has approved a share
repurchase program that authorizes the Company to repurchase up to
$200,000 in shares of common stock.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities ofAV1 Group, Inc.,
nor shall there be any sale of securities in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. The shares
offered in the private placement have not been registered under the
Securities Act of 1933, as amended, or state securities laws, and
may not be offered or sold in the United States without being
registered with the Securities and Exchange Commission (SEC) or
through an applicable exemption from SEC registration
requirements.
About AV1 Group, Inc.: AV1 Group, Inc. is
a publicly traded investment and holding company established to
identify, secure, and monetize emerging growth companies,
technologies and ecommerce businesses positioned for exponential
growth. The Company seeks to discover inspired entrepreneurs with
revolutionary concepts which can make a substantial footprint in
markets that the Company believes to have considerable growth
potential. AV1 Group, Inc.'s comprehensive business model also
includes a division which delivers internally created projects that
are poised for revenue generation, and a platform enabling the
Company to develop embryonic stage subsidiaries under one umbrella,
bringing a spectrum of backgrounds to the table, thus providing a
significant resource of experience, knowledge and expertise to
every venture. AV1 Group, Inc. explores every opportunity to help
each sector exceed their revenue goals while building close, active
working relationships; preparing each respective division to be a
robust competitor in their chosen markets. For more information
visit: http://www.av1group.com/
Safe Harbor Statement: The press release may include certain
statements that are not descriptions of historical facts but are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, and Section 21E of the Securities Exchange
Act of 1934, as amended. These forward-looking statements may
include the description of our plans and objectives for future
operations, assumptions underlying such plans and objectives, and
other forward-looking terminology such as "may," "expects,"
"believes," "anticipates," "intends," "projects," or similar terms,
variations of such terms or the negative of such terms. There are a
number of risks and uncertainties that could cause actual results
to differ materially from the forward-looking statements made
herein. Such information is based upon various assumptions made by,
and expectations of, our management that were reasonable when made
but may prove to be incorrect. All of such assumptions are
inherently subject to significant economic and competitive
uncertainties and contingencies beyond our control and upon
assumptions with respect to the future business decisions, which
are subject to change. Accordingly, there can be no assurance that
actual results will meet expectation and actual results may vary
(perhaps materially) from certain of the results anticipated
herein. We are under no obligation to (and expressly disclaim any
such obligation to) update or alter our forward-looking statements,
whether as a result of new information, future events or
otherwise.
