WorldFlix, Inc. Announces Backing from Phoenix Fund Management for $7.5 Million Equity Investment and Debt Consolidation
August 17 2016 - 9:15AM
InvestorsHub NewsWire
PALM SPRINGS, CA -- August 17, 2016 --
InvestorsHub NewsWire -- WorldFlix, Inc. (OTC
PINK: WRFX), an App / Technology company that operates through
a variety of niche industries using unique and disruptive
technologies, is pleased to announce the company has closed up to
$7.5 million in finance backing from Phoenix Fund Management,
LLC.
The Company announces agreement with Phoenix Fund Management,
LLC to provide $7.5 million in financing for its Swantry app, to
combat cyberbullying, and other mobile projects under our
wholly-owned App Farm development wing. The fund will provide
the Company with long-term funding, under non-toxic
structures, and has started the process of purchasing and
consolidating outstanding legacy debt to provide for a more stable
market.
Gavi Silberstein, Portfolio Manager at Phoenix Fund Management
commented, "We see great potential in the need for the Swantry app
as cyberbullying has become a tragic issue among younger adults in
recent years. We feel such a product could prove to have a high
demand from parents, and school officials, seeking to protect
their children from the growing angst of online cyber bullying. We
look forward to providing our fund as not just a source of capital
for the company, but rather a long term partner who will look to
assist our portfolio client on their journey towards
development."
Brad Listermann, CEO WorldFlix, Inc. commented, "We are pleased to
have Phoenix Fund Management as not just a source of funding, but
rather as a long term partner who will work with our company in our
overall goal of developing our projects to market. In addition to
providing this long term funding, their assistance in consolidating
older legacy debt will also help stabilize our markets in both the
short and long term."
Further details on funding structures will be released shortly.
About Phoenix Fund Management, LLC
Phoenix Fund Management, LLC is an innovative, family owned
investment fund. We partner with management in making direct
investments in lower-middle market public companies in all
industries around the world. We focus on building mutually
beneficial, long-term partnerships with our portfolio companies and
focus on driving value and growth by providing capital, utilizing
our expertise and fostering strategic relationships. We are a
direct investor, not a broker or a middleman. Our investment
decisions are driven by fundamental analysis and due
diligence. We make only passive investments, not taking
control positions and have long only positions.
www.phoenixfundmgt.com
About WorldFlix, Inc.
WorldFlix, Inc. (OTC:WRFX)
operates in a variety of niche businesses. App Farm-platform for
acquiring, developing, and growing niche apps for mobile and tablet
devices. Drobbits-interactive platform that allows users to create,
play, and monetize their own video games. Swantry-a military-grade,
triple encrypted, launcher app that allows parents to ensure their
child is safe on their mobile device. Lastly, WorldFlix
Entertainment Management is the company's television and movie
development and management business, and now, the artificial
intelligence industry. For more information on WorldFlix, Inc.
(OTC
PINK: WRFX), please visit www.worldflix.co or http://www.otcmarkets.com/stock/WRFX/profile
FORWARD-LOOKING STATEMENTS: "Safe Harbor" statement under the
Private Securities Litigation Reform Act of 1995: This press
release contains forward-looking statements within the meaning of
the Securities Litigation Reform Act of 1995. These statements are
based on current expectations, and are to a certain degree
uncertain. Words such as expects, anticipates, intends, believe,
plan, will and similar words are expressions intended to identify
these forward-looking statements. These statements involve risk and
subsequently are difficult to evaluate. Actual results may vary
from descriptions herein due to many factors including but not
limited to changes in business conditions, changes in laws and
regulations, problems encountered in exploration and obtaining
permits, changes in the competitive environment, technological
advances, shortages of skilled workers, the need for additional
capital and other risks listed in the company's Securities and
Exchange Commission filings under "risk factors" and elsewhere.
Forward-looking statements speak only as of the date they were
made, and the company is under no obligation to update them.
Contact:
WorldFlix, Inc. (OTC:WRFX)
Brad Listermann
Chairman and CEO
(310) 684-2462
worldflix@live.com