GHS Investments, LLC has Committed to Provide up to $7.75 Million in Equity Financing Over 24 Months to Eventure Interactive, Inc., for the Purpose of Maximizing Long-Term Growth Prospects
COSTA MESA, CA / ACCESSWIRE / September 23, 2015 / Eventure Interactive, Inc. (EVTI), a social application and technology development Company whose mission is to enrich event participation, today announced that it has it has recently secured up to $7.75 million in equity financing through GHS Investments, LLC.
The company has agreed to file a registration statement with the U.S. Securities & Exchange Commission ("SEC") registering the shares for the aforementioned investment.
Proceeds from this transaction are intended to pay down convertible and operational debt, fuel promotion of its newly designed Android, iOS and Web-based applications, expansion of the Eventure operational team and strategic acquisition opportunities.
"With this institutional financing commitment, we are well-positioned to realize our immediate operational goals of retiring all debt from the Eventure Balance Sheet and accelerating commercialization of the Eventure service," said Michael Rountree, Chief Financial Officer of Eventure Interactive, Inc. "With the depth of expertise GHS Investments brings to Eventure, we believe we have the right partner to move our business to self-sustaining through solid revenue generation and strategic acquisitions," continued Mr. Rountree.
Additional details regarding this financing activity is included in the Company filed 8/Ks filed dated September 23, 2015 by the Company with the Securities and Exchange Commission.
About Eventure Interactive, Inc.
Eventure's business is to connect people locally for controlled sharing of their lives.
Every day, millions of people are forced to use multiple applications to plan, invite, navigate, capture, organize and share their social and business events. Without organization and a simple retrieval system, sharing and recalling memories are often difficult, and many times non-existent. In addition, currently used techniques of memory sharing are person-to-person as opposed to persons-to-event, so many captured memories never end up being shared in a controlled group environment. Eventure solves for this very problem. Our proprietary technologies are robust, yet simple-to-use which address inefficiencies in the social marketplace by enabling captured memories to be centrally stored and effortlessly shared among event attendees in a secure, real-time environment. From our Social Calendar, to our Wearable Camera Technologies, to our Event based Games, Eventure truly redefines how one creates, curates and organizes life's most memorable moments.
For more information please visit: www.eventure.com
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are made in accordance with the Private Securities Litigation Reform Act of 1995. Our actual results may differ materially from those implied in these forward-looking statements as a result of many factors, including, but not limited to, overall industry environment, customer acceptance of our products, delay in the introduction of new products, further approvals of regulatory authorities, adverse court rulings, production and/or quality control problems, the denial, suspension or revocation of permits or licenses by regulatory or governmental authorities, termination or non-renewal of customer contracts, competitive pressures and general economic conditions, and our financial condition. These and other risks and uncertainties are described in more detail in our most recent annual report on Form 10-K and other reports filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made. We undertake no obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur, except as required by applicable laws, and you are urged to review and consider disclosures that we make in the reports that we file with the Securities and Exchange Commission that discuss other factors germane to our business.
Eventure Interactive, Inc. http://www.eventure.com/investors
SOURCE: Eventure Interactive, Inc.