Clubhouse Media Group (OTC: CMGR), an influencer-based social media firm and digital talent management agency, today announced its entry into a $15 million equity purchase agreement and registration rights agreement with Peak One Opportunity Fund L.P., a Delaware limited partnership. According to the update, Clubhouse Media will have the right to sell up to $15 million of its common stock to Peak One over a 24-month period, upon satisfaction of certain agreed-upon terms and conditions. Pursuant to certain terms and conditions, Peak One is obligated to purchase shares upon receiving notice from Clubhouse Media as to the amount of shares and timing of the purchase. Further, any common stock sold to Peak One will occur at a purchase price of 95% of the closing bid price on the trading day immediately preceding the respective put date. “This $15 million financing with Peak One provides us with strong capital backing to continue to execute on our strategic plans,” said Amir Ben-Yohanan, CEO of Clubhouse Media. “Having reliable capital backing will enable us to build on our momentum with the flexibility to bring in capital in an opportunistic manner. Clubhouse Media has many exciting opportunities available for growth, and with this capital in place, we believe that we are well positioned for the future.”
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About Clubhouse Media Group Inc.
Clubhouse Media Group represents the future of influencer media and marketing, with a global network of professionally run content houses, each with its brand, influencer cohort and production capabilities. Collectively, Clubhouse Media Group reaches more than 400 million followers. Clubhouse Media Group offers management, production and deal-making services to its handpicked influencers, a management division for individual influencer clients, and an investment arm for joint ventures and acquisitions for companies in the social media influencer space. Follow Clubhouse Media Group on Twitter: https://twitter.com/ClubhouseCMGR
NOTE TO INVESTORS: The latest news and updates relating to CMGR are available in the company’s newsroom at https://ibn.fm/CMGR
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