LONDON, UNITED KINGDOM, Feb. 22, 2022 (GLOBE NEWSWIRE) -- The executive management of Bebuzee, Ltd. f/k/a Engage Mobility, Inc (OTC Pink: ENGA) announced today that its corporate group will undertake a corporate reorganization. As previously announced, Bebuzee (UK), Ltd., an entity organized under the laws of England and Wales, had acquired the controlling stock interest in Engage Mobility, Inc. To better align with its long-term operational objectives, the Board of Directors of Bebuzee (UK) have elected to transfer the assets of the company to Bebuzee Group Holdings SEZC, an entity organized under the laws of the Cayman Island’s Special Economic Zone.
“The Cayman Island’s Special Economic Zone together with the jurisdiction’s long established favorable business environment has made this reorganization a fairly easy decision,” stated Joseph Onyero, Chief Executive Officer of both Bebuzee, Ltd. and its future Cayman Islands holding company. “In order to grow a global organization of the scope in which we intend to, the move was necessary and will undoubtedly prove beneficial to our stockholders, stakeholders and operational partners,” he continued. In addition to the corporate reorganization, Bebuzee will be opening a development office in the Cayman Islands to further the growth of its proprietary social media platform.
Following the reorganization, expected to close in the coming weeks, Bebuzee Group Holdings SEZC will become the controlling stockholder of Bebuzee, Ltd f/k/a Engage Mobility, Inc. In addition, the corporate group will be transferring its proprietary intellectual property assets to the Cayman Islands holding company. Those assets will, in turn, be licensed to the Florida-domiciled public company which will serve as the operational arm of the corporate group.
Bebuzee, Ltd. f/k/a Engage Mobility, Inc (OTC Pink: ENGA)
Based in London, United Kingdom, Bebuzee, Ltd. offers a unique, proprietary video-sharing platform and streaming service that allows our members to watch a wide variety of content such as movies, series, documentaries and talk shows on any internet-connected device. Bebuzee’s technology scans the world’s news, features and information flow to give its dedicated readers the best of the Internet in one place. A one-stop platform for breaking news, interesting and important blogs, videos, and photos. Bebuzee offers an addictive resource for those millions of people without time to scavenge the Internet and other sources for news and information.
Statements in this press release that are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although Bebuzee, Ltd. f/k/a Engage Mobility, Inc. believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, the companies are unable to give any assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include the company’s ability to adequately commercialize its social media platform.
Contact
Bebuzee, Ltd.
107-111 Fleet Street
London, England EC4A 2AB
www.Bebuzee.com
pr@bebuzee.com
