Tapinator Inc (TAPM)

[misanthrope]

NEW YORK, February 24, 2017 /PRNewswire/ --

Tapinator, Inc. (OTC:TAPM), a developer and publisher of mobile games on the iOS, Google Play, and Amazon platforms, today announced that it recently entered into a Stock Purchase Agreement with David Unger for the purchase of 500,000 shares of the Company's common stock for an aggregate purchase price of $150,000, or $0.30 per share, which will be payable in two tranches. In connection with the financing, the Company also issued to Mr. Unger two warrants to purchase up to an additional 500,000 shares of the Company's common stock under each warrant at an exercise price of $.30 and $.36, respectively. For details relating to the terms and conditions of the financing, please refer to Tapinator's Supplemental Information Report with OTC Markets dated February 24, 2017 available at http://www.otcmarkets.com/stock/TAPM/filings .

Commenting on the financing, Andrew Merkatz, President of Tapinator, stated, "We are thrilled to welcome David as a long-term fundamental private investor who shares our enthusiasm for what we have built at Tapinator, and for our vision of delivering high quality mobile gaming entertainment to large audiences for years to come."

Mr. Unger has more than 30 years of experience in the media and communications industries and has been involved in more than $2 billion of transactions covering all aspects of media, telecom and entertainment. Mr. Unger is the Managing Partner of New Hope Capital, an independent boutique merchant banking firm specializing in all aspects of the media. Prior to founding New Hope Capital, Mr. Unger spent ten years as Founding Partner of Avalon Equity, a private equity fund specializing in Media and Communication. Prior to that, he was a very successful entrepreneur buying and selling companies for his own account including Avalon Cable, Audio Communications Network, Video Jukebox Network among others. Earlier in his career, he spent 8 years at Vice President Investment Banking at Communications Equity Associates, and was CFO of TKR Cable. Mr. Unger has passed the Series 7, Series 63 and CPA exams. He is a graduate of The Wharton School of the University of Pennsylvania Class of 1977 and has an MBA from New York University.