Chicago IL, May 24, 2021 (GLOBE NEWSWIRE) -- FOMO CORP. (https://www.fomoworldwide.com - US OTC: FOMC) is pleased to announce it has executed a common stock purchase agreement with Triton Funds LP (“Triton” - https://www.tritonfunds.com/), a Delaware limited partnership. Under the terms of the agreement, Triton will purchase a number of Securities from FOMO CORP. having an aggregate value of $4,000,000 after a Registration Statement has been declared effective by the SEC.
The funds will be used by FOMO to acquire LED Funding IV LLC, d/b/a LED Funding (https://smartguard-energy.com/) and Lux Solutions LLC (https://www.luxsolutions.com/), two of the three entities under definitive agreement for purchase by FOMO and announced in a press release on April 15, 2021(https://www.globenewswire.com/en/news release/2021/04/15/2210819/0/en/FOMO-CORP-SIGNS-DEFINITIVE-AGREEMENTS-WITH-SMARTGUARD-ENERGY-LLC.html). The third entity is SmartGuard-Solutions LLC (“SGS”). SGS markets and finances a suite of disinfection products (https://smartguard-solutions.com/). FOMO plans to acquire 19.99% of SGS as announced in a press release on May 14, 2021 (https://www.globenewswire.com/news-release/2021/05/14/2230077/0/en/FOMO-CORP-AGREES-TO-INVEST-IN-SMARTGUARD-S-DISINFECTION-UNIT.html).
Vik Grover, FOMO CORP. CEO, commented: “The importance of the commitment by Triton Funds LP to purchase $4,000,000 in Securities from FOMO cannot be overstated. We are grateful for this opportunity and look forward to closing the first two SmartGuard entities listed above.”
Arnold Nunez, Senior Associate at Triton Funds, added "We're excited to announce our strategic partnership with FOMO CORP. We were impressed by their portfolio of clean-tech and energy sustainability solutions, as well as the management team that not only has a proven track record, but also ties to UC San Diego. Our investment will fuel their superb acquisition pipeline and provide the necessary capital that management needs to continue executing on their exciting vision for the company."
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.
Contacts:
Wayman Baker, PhD
EVP Corporate Development and Investor Relations
FOMO CORP.
630-286-9560
ir@fomoworldwide.com
https://www.fomoworldwide.com/
Dwain Schenck
Media Contact
203-223-5230
dwain@schenckstrategies.com
www.schenckstrategies.com
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