GHS? Same here: GAWK Receives $7,000,000 Commitment from GHS Investments LLC
2017-02-28 06:00 ET - News Release
GAWK Receives $7,000,000 Commitment from GHS Investments LLC
LOS ANGELES, CA--(Marketwired - Feb 28, 2017) - Gawk, Inc., (OTC PINK: $0.0002, GAWK) a cloud-based infrastructure-as-a-service company, today announced that it has signed an equity purchase agreement (EPA) with GHS Investments, LLC, an institutional investor. The capital will create significant growth capital for GAWK, enabling the execution of its business plan, on favorable terms.
Under terms of the agreement, GAWK has the right, but not the obligation to sell, up to $7 million of its common stock to GHS, in an amount that the Company determines. Scott Kettle, CEO of GAWK, Inc., said, "We intend to use this new infusion of cash from GHS to implement our business plan of acquiring strategic businesses within the cloud communications sector."
Kettle further stated "This move is important because it has resulted in a significant improvement of the terms under which we can access capital on an as needed and when needed basis." The Company intends to use the capital for acquisition - as it has previously disclosed, the Company is "operating cash flow positive" and therefore will focus on using any new capital for strategic growth.
GHS has also participated in the recently announced restructuring of the convert
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