Item 8.01. Other Events
On June 10, 2019, CMG Holdings Group, Inc.’s
Board of Directors approved a share repurchase program for up to 100 million common shares over the next two years. The share repurchases
will be made at the discretion of management through open market purchases and/or privately negotiated transactions funded
by cash on hand, free cash flow from operations, and potential bank financing. A copy of a press release issued and disseminated
June 13, 2019 is attached hereto.
Item 9.01. Exhibits
CMG Holdings Group's Board of Directors Authorizes
100 Million Share Repurchase Program
CHICAGO, June 13, 2019 (GLOBE NEWSWIRE) --
The Board of Directors of CMG Holdings Group, Inc. (OTC: CMGO) announces today the approval of a share buyback program of up to
100 million shares of the Company's common stock over the next two years. The share repurchases will be made at the discretion
of the company through open market purchases and/or privately negotiated transactions.
CMG's Chairman and CEO Glenn Laken said, "We
are very excited by the prospects for the company going forward and have decided to implement this buyback based on our view that
the price of the stock does not accurately reflect the value of the company and its increasingly positive prospects. We believe
that this program is a very important step in increasing shareholder value. I'd like to thank our loyal shareholders for their
support. Further information on CMG developments can be found at @CMGOnews on Twitter." The repurchases will be made with
cash on hand, free cash flow from operations, and potential bank financing. Full details of the stock repurchase program may be
found in CMG's report on Form 8K which will be filed within the next few business days.
About CMG Holdings Group, Inc.
CMG Holdings Group, Inc. is a Chicago holding
company whose primary operating subsidiary is XA – The Experiential Agency, Inc. (http://www.experientialagency.com) - which
engages in the alternative advertising, digital media, experiential and interactive marketing, and entertainment sectors. XA is
involved in production and promotion, event design, sponsorship evaluation, negotiation and activation, talent buying, show production,
stage and set design, and data analysis and management activities. The business also offers branding and design services, such
as graphic, industrial and package designs across traditional and new media, public relations, social media, media development
and relations, and interactive marketing platforms to provide its clients with customary private digital media networks to design
and develop individual broadcasting digital media channels to sell, promote, and enhance their digital media video content through
mobile, online, and social media. XA serves clients across the marketing communication industry. Separately, CMG Holdings Group
owns Lincoln Acquisition Corp., a subsidiary formed to manage its portfolio investments.
Disclosure Statement
Statements in this press release about our
future expectations, including without limitation, the likelihood that CMG Holdings Group, Inc. will meet minimum sales expectations,
be successful and profitable, bring significant value to its 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. 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.
Contact
Glenn Laken
CEO
CMG Holdings Group, Inc.
(773) 770-3440
glennbrlaken@gmail.com
Twitter: @CMGOnews