Chicago, IL, April 08, 2021 (GLOBE NEWSWIRE) -- FOMO CORP. (https://www.fomoworldwide.com/ - US OTC: ETFM) has signed a $10 million financing term sheet with an institutional investor. The fund has committed funding in an equity structure that allows FOMO to obtain capital on its own terms and at its discretion, unlike variable structures of the past. Terms of the funding can be found on the SEC’s EDGAR system at:
https://www.sec.gov/Archives/edgar/data/0000867028/000149315221008256/form8-k.htm
Said Vik Grover, CEO: “This financing, on the heels of FOMO eliminating all default debt as of 03-31-2021, sets the stage for our new era. We are close to moving our letters of intent (“LOI”) for SmartGuard Energy, Lux Solutions, EcoLite Holdings, and a national HVAC services contractor to definitive agreements. We are very serious and earnest in our vision to create an ecosystem of companies targeting clean/smart buildings that will help reopen our nation. Now it is time to go big.”
About FOMO CORP.
FOMO CORP. is a publicly traded company focused on business incubation and acceleration. The Company invests in and advises emerging companies aligned with a growth mandate. FOMO is developing direct investment and affiliations - majority- and minority-owned as well as in joint venture formats - that afford targets access to the public markets for expansion capital as well as spin-out options to become their own stand-alone public companies.
Forward Looking Statements:
Statements in this press release about our future expectations, including without limitation, the likelihood that FOMO CORP. will be able to meet minimum sales expectations, be successful and profitable in the market, bring significant value to FOMO CORP.’s stockholders, and leverage capital markets to execute its growth strategy, constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and our actual results could differ materially from expected results. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law. FOMO’s business strategy described in this press release is subject to innumerable risks, most significantly, whether the Company is successful in securing adequate financing. No information in this press release should be construed in any form shape or manner as an indication of the Company’s future revenues, financial condition, or stock price.
Contact:
Wayman Baker, PhD
EVP Corporate Development and Investor Relations
FOMO CORP.
(630) 286-9560
IR@fomoworldwide.com
Dwain Schenck
Schenck Strategies
203-223-5230
dwain@schenckstrategies.com
www.schenckstrategies.com