VNUE NEWS RELEASE
NEW YORK, May 5, 2021 /PRNewswire/ -- VNUE, Inc. (OTC: VNUE), a leading music technology company developing solutions to provide new revenue opportunities to recording and touring artists, record labels and the live merchandising industry, as well cutting edge technology for songwriters, music publishers, and rights holders to better monetize and protect their catalogs, is excited to announce that it has entered into a Common Stock Purchase Agreement (the "CSPA") with Triton Funds, LP ("Triton") (www.tritonfunds.com), the nation's largest student venture investment fund, for an investment by Triton in the Company's common equity of as much as $2 million. VNUE expects other investors to come on board as well, led by Triton.
Triton has agreed to invest up to $1 million in common stock of VNUE through the purchase of shares the Company has agreed to sell to Triton, subject to the terms and conditions set forth in the CSPA. In addition, in connection with the CSPA, Triton may invest up to an additional $1 million pursuant to warrant agreements.
Triton is primarily focused on investments that will have a lasting positive impact on the Millennial generation with a portfolio of both private and public companies.
Casey Barraza, an Analyst at Triton Funds, commented, "After speaking with key members of the management team like CEO Zach Bair, it was clear to the Triton Funds team that VNUE, Inc. has the 'secret sauce' needed to make a profound impact on the music industry and advocate for music artists. We hope that our investment will provide the Company with the capital needed to continue to develop and commercialize the Soundstr Technology."
Zach Bair, CEO and Chairman of VNUE, said, "Triton is an amazing and credible source of capital that will allow VNUE to continue the commercialization of our groundbreaking Soundstr Music Recognition Technology (MRT), and to further expand our "instant live" music recording and production model, particularly our digital platforms, and Soundstr as it relates to SaaS (software as a service). This investment represents a strong vote of confidence and validation from Millennial and Gen-Z investors about VNUE's direction and technology, and we look forward to proving them right over the coming years. After five years of receiving small amounts of funding, this finally provides fuel in the tanks to 'swing the bat' and fully execute to our plan."
