Vita Mobile Systems Secures $5 Million Financing to Support Rapid Growth and OTCQB Uplisting

Date : 11/27/2018 @ 12:31PM
Source : InvestorsHub NewsWire
Stock : Vita Mobile Systems, Inc. (PC) (VMSI)
Quote : 0.0195  0.0 (0.00%) @ 12:31PM
Vita Mobile Systems, Inc. share price Chart

Vita Mobile Systems Secures $5 Million Financing to Support Rapid Growth and OTCQB Uplisting

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Vita Mobile Systems Secures $5 Million Financing to Support Rapid Growth and OTCQB Uplisting

 

IRVINE, CA -- November 27, 2018 -- InvestorsHub NewsWire -- Vita Mobile Systems, Inc. (OTC PINK: VMSI), a technology company specializing in big data via digital imaging on mobile devices, announced the Company has signed an investment agreement for up to $5 Million in equity financing from Tangiers Global, LLC (‘Tangiers’).  Tangiers is a San Diego-based financial firm that provides working and expansion funding to small and microcap public companies. 

“We are excited to partner with Tangiers Global for the next step in our funding needs. Tangiers has a solid reputation for working with companies like ours to provide the financing needed to grow to the next level.  We are initially using part of the funds to complete the steps necessary to become fully reporting and uplist to the OTCQB, so Vita Mobile Systems can provide both transparency and confidence for our current shareholders, as well as new shareholders and investors,” stated Sean Guerrero, CEO of Vita Mobile Systems, Inc. “Our audit is currently underway and once completed, we plan to use only a portion of the $5 million financing to update our market intelligence platform and foundational technologies within our evolving VITA app, as recommended by our new technology advisor.”

Aaron Raub, Senior Equity Analyst for Tangiers Global, LLC, commented on the announcement, “Tangiers is always excited to partner up with innovating and emerging technology companies with the potential to be disruptive within the industries that they operate in.  Vita Mobile Systems’ geolocation-based social media app is changing the way crowdsourced digital content is used for creating applications for both big data and targeted advertising.  Sean and his team of technology advisors are quickly ramping up operations and we are confident that our investment will boost their market intelligence platform and help the launch of the VITA app become a rousing success.”

Over the summer, Vita Mobile Systems met with senior executives and specialists in the Advertising Technology (‘Ad Tech’) industry to select a new member for the Company’s Advisory Team. Ad Tech is a quickly growing industry that encompasses the services, tools, software and data analyzation that helps companies target, deliver and analyze their digital advertising and marketing.  The Company has selected a highly respected Ad Tech specialist to join the Advisory Board. The new member, who has opted to remain anonymous until the sale of his technology company is complete, is already advising the Company on its expansion into the Ad Tech industry and will be overseeing both software and infrastructure improvements to support the new Ad Tech services.

“The newest member to our Advisory board has already made a positive impact on our team and our expansion into Ad Tech services,” added Guerrero. “We understand and respect his request to delay his official announcement until the sale of his company is complete, and we look forward to sharing his highly impressive and successful track record, as well as his innovative plans and technologies for Vita Mobile Systems.” 

To learn more about VITA please visit the Vita Mobile Systems website at www.vitamobilesystems.com.

About Tangiers Global, LLC (www.tangierscapital.com)

Founded in 2006, Tangiers provides working and expansion funding to small and microcap public companies through a variety of investment structures, including the new Fixed Funding Commitment™.

“Tangiers manages its own private capital. We are not brokers or finders, which allows us to make quick and creative decisions by deploying our own personal investment funds on an accelerated timeline. We pride ourselves on building long term relationships with our client companies to ensure that they have the resources necessary to propel their growth year after year.”

About Vita Mobile Systems, Inc. (www.vitamobilesystems.com)

Vita Mobile Systems, Inc. (OTC PINK: VMSI) is a technology company focusing on digital imaging in mobile devices, collection of big data and development of artificial intelligence. Vita Mobile Systems is currently finalizing their first geolocation-based, social media app "VITA" for release on both iOS and Android.  Comprised of a strong foundation of successful entrepreneurs, Vita Mobile Systems has developed proprietary algorithms and tools which gather, categorize, analyze and augment digital content. Over the years, Vita Mobile Systems has used these proprietary marketing, social media, and data collection tools to generate significant amounts of internet traffic for advertising networks. Vita Mobile Systems aims to create a monumental library of crowdsourced content, a massive catalogue of predictive big data, and platform for ultra-targeted advertising. The company expects to establish a strong foundation within the multibillion-dollar industry of driving big data and targeted advertising through its process of cataloging, meta-tagging, analyzing, and predicting trends of everyday people in everyday life.

Cautionary Language Concerning Forward-Looking Statements:

This press release contains forward-looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected by VITA. The public filings, if any, of Vita Mobile Systems, Inc. (OTC Pink: VMSI) may be accessed at www.otcmarkets.com. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. VITA cautions readers not to place reliance on such statements. Unless otherwise required by applicable law, VITA does not undertake, and VITA specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.

Contact: Vita Mobile Systems, Inc. 2640 Main St.Irvine, CA 92614949-864-6902 info@vitamobilesystems.com Investor Relations: 949-864-6902 ir@vitamobilesystems.com

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