$EVTI$--Eventure Interactive, Inc. has Determined that it is in the Best Interest of the Company and Shareholders to Withdrawal its Existing PRER14C Information Statement and to Terminate its Equity Purchase Agreement with Aladdin Trading, LLC
OSTA MESA, CA /ACCESSWIRE / August 27, 2015 / (OTCQB: EVTI), a social application and technology development Company whose mission is to enrich event participation, today announced that it has withdrawn a recently filed PRER14C Information Statement to potentially increase its Common Stock Authorized Share amount to two-billion, leaving the current authorized amount at one-billion. Additionally, the Equity Purchase Agreement with Aladdin Trading dated November 25, 2014 has been terminated effective today. These actions taken are to provide more clarity into the Company's existing capital structure and allow for a longer-term financing strategy going forward that optimizes current funding relationships.
"The Board of Directors continues to weigh all options to maximize our Capitalization structure. With Eventure's funding partners, it has been concluded best to work within the current authorized amount for future financings," said Michael Rountree, Chief Financial Officer of Eventure Interactive, Inc. "With the sole focus of providing for long-term shareholder value as well as securing needed financing, we believe the moves that we made today best satisfy our short and longer-term objectives," continued Mr. Rountree.
AI
