MediaTechnics Corp (MEDT)

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NEWS OUT!!!

ediaTechnics to spin off BlazeNow in shareholder dividend, intends to take BlazeNow public. Recreational marijuana on California ballot.

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Published: July 12, 2016 8:30 a.m. ET

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LAS VEGAS, July 12, 2016 /PRNewswire/ - MEDIATECHNICS CORPORATION MEDT, -16.67%is pleased to announce today that it intends to spin off its subsidiary BlazeNow Inc. (BlazeNow). MEDT plans to distribute the majority of stock that it holds in BlazeNow (approximately 98%) to the holders of its common and preferred stock during the next few months and currently anticipates an Ex-Dividend Date (Ex-Date) of August 15, 2016. Under our current plans, shareholders eligible to receive a dividend will hold both MEDT stock and BlazeNow stock.

In further news, BlazeNow has entered into negotiations to sell shares under the SEC's new Regulation A, Tier II rules (Reg. A+). If our prospective Reg. A+ offering is approved by the SEC, the company would be able to sell up to $50,000,000 in stock, all of which would be free trading to accredited, and non-accredited investors alike. BlazeNow could use general advertising, and a broker/dealer may file a Form 211 on our behalf and, if approved, the stock of BlazeNow would trade as its own public company. We expect a substantially higher pre-money valuation when and if our Reg. A+ is approved. Reg. A+ requires audited financial statements. June 30 marks the end of BlazeNow's fiscal year and BlazeNow believes it will have its FY 2016 audit completed on or around August 15, 2016.