Light Media Holdings, Inc (LGMH)

[Louied91]

$LGMH Light Media Enters Into Strategic Merger Agreement

https://www.otcmarkets.com/stock/LGMH/news/Light-Media-Enters-Into-Strategic-Merger-Agreement?id=445454

ATLANTA, GA, July 1, 2024. GLOBE Newswire -- Light Media Holdings, Inc. (OTC Markets: (LGMH) ("Light Media") today announced that it has entered into a strategic merger agreement with Veri Holdings (VRHI) (Veri Holdings"). Veri Holdings, since 2016, operates as a curator of opportunities, transcending conventional boundaries in healthcare via alternative medicine, telemedicine and artificial intelligence. For more information, visit: www.VeriHoldings.com.

Market Forecasts: Alternative Medicine is projected to experience significant growth, anticipated to escalate from a valuation of USD 143.79 billion in 2023 to nearly USD 1190.19 billion by 2032. Telemedicine Market Size is Expected and Anticipated to Reach USD 869.22 billion by 2033. Artificial intelligence in the healthcare market was valued at USD 16.3 billion in 2022 is expected and anticipated to grow at a CAGR of 40.2% to reach USD 173.55 billion by 2029.

Veri Holdings intends to raise up to $20 million, led by Network 1 Financial Securities, and uplist the company to a higher exchange (e.g. Nasdaq, NYSE). In this regard, Veri Holdings has retained PCAOB registered auditors and reserved stock symbol (VRHI).

The parties anticipate that in connection with the transaction, the shares of Light Media will be combined in a reverse split that is anticipated to range from 1 new share for every existing 20 shares.

The common stock of the combined company will continue to trade on www.OTCMarkets.com. The company will complete a spin-off and name change to reflect its new focus on global opportunities in Telemedicine, Alternative Medicine and Healthcare AI.