CMG Updates Shareholders on Positive Corporate Developments, Including Two New Contracts
September 12 2019 - 9:17AM
InvestorsHub NewsWire
CMG Updates Shareholders on
Positive Corporate Developments, Including Two New Contracts
Chicago, IL -- September 12, 2019 -- InvestorsHub
NewsWire -- CMG Holdings Group, Inc. (CMGO/OTC)
today announces (2) new contracts and provides a positive
business
shareholder update and other corporate news from the
Office of the CEO, Glenn
Laken:
Due to growing demand, XA The
Experiential Agency, CMG's fully owned
subsidiary, has closed two new
deals. With contracts in hand, XA is looking
forwardto providing services to
these new clients and using these new
corporate alliances as springboards to capture more
business in the sector.
XA is gaining a great
reputation for having some of the quickest turn arounds in the
experiential business. Indeed, XA’s ability to create complex,
multi-city events in a matter of weeks helped secure both of these
new client relationships. These new clients
are:
Madewell, a men and women's online
and retail clothing stores (madewell.com).
Beauty
Counter; a Direct Retail skincare and cosmetics brand
(beautycounter.com).
With our current book of
business and client list, including these two new signings, we
are delighted to round off our portfolio and look forward expanding
our footprint in an industry that
is becoming aware increasing aware that XA is the place to
go for event needs and ultimate experiences, done right
and done on time. We feel these new clients open us up to a whole
new segment of the market, as we continue to put our stamp on the
industry, with events for well know retailers, like J
Crew, scheduled to kick off the fall
season.
CEO Glenn Laken went on to
add, “I am excited about our future and our growth, we have made
some serious steps in growing XA back to where it belongs, and also
looking forward to getting our stock price back where it belongs.
We have a unique investor base, and our goal is to keep getting new
clients and contracts, increasing revenues and looking to expand
our footprint in the marketplace. I feel we are doing our part by
being a self-funded company. We are funding the company the right
way with no convertible debt or gimmick financing. We have never
raised the authorized shares, nor have we ever affected a reverse
split. I want shareholders to know that as CEO, I have made plenty
of sacrifices through the years, to keep the share structure where
it is. I went without a salary for an extended period of time and
used my own money for many years to support CMG Holdings Group
Inc. I am proud of the efforts
and hard work that we have made growing our business and
bringing the company up to date with all filings. We are also
now current and in good standing with OTCmarkets https://www.otcmarkets.com/stock/CMGO/overview
In our plan to bring value to
our shareholders beyond business growth and revenues, we have
come up with a plan to hyper accelerate our 100m share retirement
goal, with 38 million currently restricted shares to be retired and
returned to the Treasury. This process will take time, finances and
some leg work. As the process moves along, we will keep you
informed.
This is the first in a series of updates and press
releases. We have even more exciting news about projects
we have been working on, to be announced
soon...”
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 mediums. 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.
CMG’s business strategy described in this press release is subject
to innumerable risks, most significantly, whether the Company is
successful in securing adequate financing and materially decreases
its convertible debt. 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
Corporate website
https://www.cmgholdingsinc.com/
Twitter
https://twitter.com/CMGONews
AboutXA, The Experiential A
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