DALLAS, TEXAS, Aug. 25, 2022 (GLOBE NEWSWIRE) -- Frontera Group, Inc. (OTC Pink: FRTG) (“Frontera” or “the Company”), a technology-focused strategic acquirer of revenue-generating companies and intellectual property (IP), today announced they entered into a marketing agreement with Stephen Steen on April 27, 2022, for a term of six (6) months. Mr. Steen will assist the Company in developing and implementing a strategic marketing program, as well as help the Company to create a larger social media presence. Mr. Steen has provided consulting services to the Company in the past, for which he has not been compensated. Pursuant to the agreement with Mr. Steen, he will be issued, upon his demand, 1,200,000 shares of restricted common stock (not to exceed 4.9% of the Company).
On August 17, 2022, Frontera entered into a Marketing Agreement with Long Side Ventures LLC (“Long Side”), a Florida limited liability company, for a term of five (5) months from the date of execution. Long Side will provide the Company: (i) strategic advice on capital markets strategies and uplisting to a Nasdaq exchange, (ii) debt restructuring guidance (iii) introductions to investment banks, underwriters, and market industry specialists, and (iv) introductions to potential merger and acquisition candidates.
Pursuant to the Consulting Agreement, Long Side shall receive a consulting fee equal to $30,000 per month (“Consulting Fee”). Long Side may elect, at its sole discretion, to receive payment of its Consulting Fee in shares of the Company’s common stock, if the Company has a then-qualified offering pursuant to Regulation A (a “Qualified Regulation A Offering”) and such shares are issued pursuant to such Qualified Regulation A Offering.
As previously disclosed, on June 9, 2022, the Company entered into an Asset Purchase Agreement (the “Purchase Agreement”), by and among the Company and IntelliMedia Networks, Inc. (“Intellimedia”). On August 17, 2022, the Company and Intellimedia closed on the purchase of the assets and the Company became the beneficial owner of certain intellectual property rights.
In connection with the Purchase Agreement and effective as of the Closing (as defined in the Purchase Agreement) Teodros Gessesse was appointed as the Chief Marketing Officer of the Company. Also In connection with the Purchase Agreement and effective as of the closing, Darshan Sedani was appointed as the Chief Visionary Officer of the Company.
The acquisition news was filed with the U.S. Securities and Exchange Commission on a Form 8-K on August 23, 2022, which can be viewed at the link below.
https://sec.report/Document/0001549727-22-000072/
Andrew De Luna, CEO, CFO, and Vice Chairman of Frontera stated, “The leadership team at Frontera Group is positioning the company for growth and sustainability. The company’s consultants have vast experience and are well known in the industry. Frontera’s new appointments bring a wealth of knowledge and networking strength.”
About Frontera Group
Frontera Group is a strategic acquirer of intellectual property and revenue-generating companies in the technology and human capital markets. It is developing and executing an aggressive, four-tier acquisition and implementation strategy intended to provide substantial increases in profitability to its acquisitions in industries which possess traditionally low and stagnant EBITDA multiples. The Company has identified and is currently pursuing several revenue-generating acquisition targets.
For further information, please visit Frontera’s website at www.frtgtech.com.
About Intellimedia Networks
Intellimedia Networks is a U.S. and India-based technology company that designs and deploys cloud platforms and applications that create immersive experiences. Intellimedia’s award-winning products utilize AR, VR, and AI to enhance media, training, education, virtual event broadcasting, real estate, and other applications.
For further information, please visit Intellimedia Networks’ website at www.intellimedianetworks.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
The statements contained in this news release which are not historical facts may be “forward-looking statements” that involve risks and uncertainties which could cause actual results to differ materially from those currently anticipated. For example, statements that describe FRTG’s hopes, plans, objectives, goals, intentions, or expectations are forward-looking statements. The forward-looking statements made herein are only made as of the date of this news release. Numerous factors, many of which are beyond FRTG’s control, will affect actual results. FRTG undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. This news release should be read in conjunction with FRTG’s most recent financial reports and other filings posted with the OTC Markets and/or the U. S. Securities and Exchange Commission by FRTG.
Frontera Group Contact
Andrew De Luna
Chief Executive Officer
adl@frtgtech.com
Investor Relations Contact
Lindsey Harasta
invest@frtgtech.com
