COSTA MESA, Calif., July 24, 2014 (GLOBE NEWSWIRE) -- via PRWEB - Eventure Interactive, Inc. ("Eventure") (OTCBB: EVTI), a social communications and application development Company that is making local event participation smarter, today announced it has recently secured $1.275 million in equity financing through family offices and high net worth individuals, and an additional investment commitment of $3 million from Kodiak Capital Group, LLC, an institutional investor based in Newport Beach, CA.
Proceeds from these transactions will be used to fuel the upcoming launch of Eventure's newly designed Android and iOS applications, expansion of the Eventure operational team, and strategic acquisition opportunities.
"With these equity investments, and commitment of institutional financing, we are well-positioned to continue ongoing product development, as well as begin initiating commercialization of Eventure's service," said Gannon Giguiere, CEO of Eventure Interactive, Inc. "Attracting investors with a high degree of sophistication and talent is testimony toward the validation of our business plan as we continue to execute to our operating framework as outlined publicly in March of this year," Mr. Giguiere continued.
"We are enthusiastic to welcome Eventure Interactive, Inc. to our Interactive Media portfolio. The Eventure team is comprised of seasoned technology operators, marketers and financially minded leaders. When taken together with their proprietary platform, we believe Eventure is poised to take advantage of numerous untapped opportunities," said Ryan Hodson, Managing Director of Kodiak Capital. Mr. Hodson continued by saying, "The preliminary metrics from the Alpha release are quite strong and provide a realistic prospect for near-term growth and long-term value creation. We are excited to be involved with another company in our backyard."
In association with these financing activities the company has agreed to file a registration statement with the U.S. Securities & Exchange Commission ("SEC") covering the shares for the aforementioned investments.
Details regarding Eventure's recent financing activities are included in 8-Ks filed on March 13, 2014, June 23, 2014, and July 24, 2014, and 10-Q filed on May 20, 2014 by the Company with the Securities and Exchange Commission.
About Eventure Interactive, Inc.
Every day, there are hundreds of millions of events attended, where billions of photos and videos are taken; each of these events represents some of life's most meaningful experiences and memories. Almost none of these memories are being effectively organized in a way that brings meaning to their owner. By solving this problem, Eventure brings real and lasting meaning to its users' lives, and in so doing addresses a yet untapped market opportunity.
At Eventure you'll find a simple, yet elegant, web-to-mobile application where individuals can easily create, capture, and organize life's memories. From the most basic lunch between friends, to the most elaborate star-studded gala, Eventure allows everyone to chip in during the planning of an event, easily check-in when you arrive at the event, capture and stream pictures and video during the event, and then scrapboard the collage of activity after it is all done.
Whether planning, inviting, attending, capturing, or scrapboarding, Eventure truly redefines how one organizes life's most memorable moments.
For the first time ever, there's a Social Calendar to use.
For more information please visit http://www.eventure.com
About Kodiak Capital Group, LLC
Kodiak is an institutional investor headquartered in Newport Beach, CA. Kodiak makes private investments in public and private entities utilizing proprietary equity and debt instruments. These investments provide long-term strategic capital offering companies certainty, flexibility and consistency. Kodiak's investments are in a wide range of industries emphasizing alternative energy, consumer products, life sciences, natural resources, and social media technology.
For more information, visit http://www.kodiakfunds.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are made in accordance with the Private Securities Litigation Reform Act of 1995. Our actual results may differ materially from those implied in these forward-looking statements as a result of many factors, including, but not limited to, overall industry environment, customer acceptance of our products, delay in the introduction of new products, further approvals of regulatory authorities, adverse court rulings, production and/or quality control problems, the denial, suspension or revocation of permits or licenses by regulatory or governmental authorities, termination or non-renewal of customer contracts, competitive pressures and general economic conditions, and our financial condition. These and other risks and uncertainties are described in more detail in our most recent annual report on Form 10-K and other reports filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made. We undertake no obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur, except as required by applicable laws, and you are urged to review and consider disclosures that we make in the reports that we file with the Securities and Exchange Commission that discuss other factors germane to our business.
Media Inquiries
Eventure Interactive, Inc.
http://www.eventure.com
media.relations(at)eventure.com
Phone: (855) 986-5669
Fax: (949) 209-1920
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