Charlotte, NC, Nov. 01, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- XSport Global, Inc. (OTCQB: XSPT) (“XSport Global” or the “Company”), a leading youth and collegiate sports technology and media holding company focused on developing disruptive sports-centric technologies and related media projects around the world, today announced the Company has entered into an equity purchase agreement with TRITON FUNDS, LP (“TRITON FUNDS” or “Investor”).
The agreement is for the purchase of the company’s common stock in the amount up to $1,000,000 at the sole discretion of XSport Global. The closing for Capital Call Shares shall occur on the date that is six business days following the date that the Investor receives Capital Call Shares from the Company. The purchase price for the shares to be paid by the Investor at each closing, having a discount of 30% of the volume-weighted average price of the Company’s common stock during the 5 trading days prior to a closing date. Neither the Investor, nor any affiliate of the Investor acting on its behalf, will execute any Short Sales during the commitment period.
“Receiving the vote of confidence from TRITON FUNDS, acknowledges XSport Global’s disruptive sports-centric, scientific product offerings and overall business potential,” stated Robert Finigan, Chief Executive Officer of XSport Global. “This funding will allow us to: develop new product offerings, explore additional acquisitions, acquire talent and invest in marketing and sales, as we grow to be a global business and leader in the Sports category.”
Yash Thukral, Founder, of TRITON FUNDS, said, “We continue to seek out the best investment opportunities and XSport Global represents the type of early-stage, growth company we intend to add to our portfolio of investments. We believe their business acumen and strategy is sound, and we are confident with the tremendous upside potential in the multi-billion dollar cognitive sports training industry. We look forward to working together.”
“A management team that is highly motivated in seeing through the Company’s vision is something we here at TRITON FUNDS highly emphasize, and Robert Finigan provided just that for XSPT,” added Dmitriy Slobodskiy, Junior Partner, of TRITON FUNDS. “As a millennial fund, we pride ourselves in working with companies such as XSport Global who directly affect our generation as well as the youth in providing new technology and insight in an ever-changing space.”
About TRITON FUNDS:
TRITON FUNDS was started by three undergraduate students from Southern California aspiring to create an investment fund with a millennial touch. Our journey began on the streets of La Jolla, California in search of investors willing to back our idea of a student-run fund that creates a greater sense of community through investments in local companies and entrepreneurs, philanthropy, and guidance to fellow college students interested in the finance field. As a result, local limited partners, coupled with the support of our advisory board, helped us establish TRITON FUNDS, creating real-world opportunities for college students to invest in growing companies.
About XSport Global, Inc.
XSport Global, Inc. (OTCQB: XSPT) is a leading youth and collegiate sports technology and media holding company focused on developing disruptive sports-centric technologies and related media projects around the world, where sports industries and players are highly regarded. Backed by a roster of professional athletes and brand ambassadors, we seek to help athletes achieve their full potential through cognitive training, careers, genetics, recruiting and more. Our flagship company HeadTrainer, Inc was established to create, develop, promote, market, produce, and distribute online/mobile application cognitive training tools initially intended for the youth, millennial, and adult sports markets. The mobile platform was designed and developed in careful coordination with a team of professionals from the fields of science and medicine, and world-class athletes from a variety of sports. Visit www.xsportglobal.com and www.headtrainer.com for more information.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995.
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “should,” “would” or similar words. You should consider these statements carefully because they discuss our plans, targets, strategies, prospects and expectations concerning our business, operating results, financial condition and other similar matters. These statements are subject to certain risks, uncertainties, and assumptions, including, but not limited to, risks and uncertainties relating to the Company’s ability to develop, market and sell products and services, based on its technology; the expected benefits and efficacy of the Company’s products, services and technology; the availability of additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and, the Company’s business, research, product development, regulatory approval, marketing and distribution plans and strategies; the ability of the Company to execute on a business plan that permits the technologies and innovations businesses to provide sufficient growth, revenue, liquidity and cash flows for sustaining the Company’s go-forward business, and the risks identified and discussed under the caption “Risk Factors” in the XSport Global Annual Report filed with the Securities and Exchange Commission (the “SEC”) and the other documents XSport Global files with the SEC from time to time. There will be events in the future, however, that XSport Global is not able to predict accurately or control. XSport Global’s actual results may differ materially from the expectations that XSport Global describes in its forward-looking statements. Factors or events that could cause XSport Global’s actual results to materially differ may emerge from time to time, and it is not possible for XSport Global to accurately predict all of them. Any forward-looking statement made by XSport Global in this press release speaks only as of the date on which XSport Global makes it. XSport Global undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.