NEW YORK, March 06, 2019 (GLOBE NEWSWIRE) -- Exxe Group, Inc (OTC: AXXA), a diversified company focused on synergistic acquisitions in real estate, fintech, artificial intelligence, media and financial services, is pleased to announce the completion of the acquisition and of control of assets valued at 8 million USD. Exxe has completed the acquisition of the VIP international digital media platform & community (“VIP”,”VIP Digital”) that delivers and markets exclusive VIP concierge services and events to an elite, wealthy community via a premier software booking app. VIP Digital consists of a media platform, app technology, an international team, a pool of existing contracts, and access to a community of affluent users.
Transaction Details
VIP was acquired through a combination of private equity funding, installment payments, debt, privately structured capital investments and personal guarantees. A controlling interest value of approximately 8 Million USD of assets was secured by Exxe’s contractual commitments that included a number of notes with different maturity dates and installments payable over 24 months. The contractual agreement also provides protection of Exxe’s investment to be backed by the assets of the target company, with interest on the invested capital at 10%, this secures protection of the 1 million initial investment by Exxe Group. This structure protects Exxe’s principal investment if Exxe chooses to exit.
Value Added
VIP Digital adds significant value to Exxe’s markets by bringing a strong user/customer base in 40+ cities, in addition to a solid and reliable tech & social media platform that can be adopted to other user community groups that Exxe targets, such as Exxe’s plan to enter into Seniors Community Services with its flagship Vita project in Bavaria.
The Deal’s Benefit to The Exxe Group
Exxe CEO, Dr. Nazmiev, Phd commented on the VIP deal by noting, “The acquisition of the VIP platform is another essential addition to our vision of connected spaces and communities and is an integral part of our business plan catering to meet people’s financial, emotional and functional needs. I look to the Exxe/VIP alliance to significantly increase our revenues going forward and add value to our financial network.”
About Exxe Group: Exxe Group is a diversified corporation focusing on acquisitions in the following sectors: real estate, technology, media, and financial services. Exxe Group is an acquisition-driven company. The company strategy is to acquire controlling equity interests in undervalued companies and then take an active role in improving their performance - accelerating their growth by providing both access to capital and management expertise. For additional information go to www.exxegroup.com
CONTACT: Exxe Group IR info@exxegroup.com
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