SNM Global Holdings (SNMN)

[MIKEY501]

SNM Global Finalizes Agreement to Initiate Payment and Transition of 50% Stake in Paul Mitchell Schools Starting Jan. 1st

Published: Dec 12, 2017 2:47 p.m. ET


MIAMI BEACH, Fla., Dec 12, 2017 (GLOBE NEWSWIRE via COMTEX) --

SNM Global Holdings (SNMN) SNMN, +0.00% an entertainment/media company is excited to announce terms have been executed to initiate payment and transition of a 50% stake of 2 Paul Mitchell schools in Rockville and Jessup, Md. starting January 1, 2018. SNM will complete transaction with a combination of cash and stock over 1st quarter of 2018 with an option to acquire an additional 25% stake thereafter.
"This finalized agreement is huge for us. It will give us an established multi-million dollar revenue producing asset for SNM next year and going forward. Our management team is already working with current management closely to ensure a smooth and seamless transition," stated SNM CEO Troy Lowman. "We will look to expand and enhance our operations with exciting endeavors that are already in the works." The schools consist of two facilities (modern 16,000 sq. ft. and 12,800 sq. ft. respectively.)

Contact information:
Troy Lowman, CEO
Phone: [phone]
Email: [e-mail]