STUDIO CITY, Calif., Aug. 28, 2017 (GLOBE NEWSWIRE) -- Tix Corporation (the “Company”) (OTCQX:TIXC), a leading provider of discount ticketing services, today announced that it has amended the terms of the Company’s Stockholder Rights Agreement (the “Agreement”) to allow the Board of Directors (“Board”), if it so choses, to determine that, as long as the Company can utilize its Net Operating Losses (NOLs”), any acquisition by a person or group of more than 4.95% but less than 15% of the Company’s common stock (as was previously provided in the Agreement) that has not jeopardized the Company’s NOLs, does not cause the rights under the Agreement to be exercisable.
The Agreement will expire on March 31, 2021, unless the rights are earlier redeemed or exchanged in accordance with the Agreement or the Agreement is earlier terminated by the Board. A copy of the amended Agreement can be found at the Company’s website at www.tixcorp.com.
About Tix Corporation
Tix Corporation (OTCQX: TIXC) provides discount ticketing services. It currently operates ten discount ticket stores in Las Vegas under its Tix4Tonight marquee, which offers up to a 50 percent discount for same-day shows, concerts, attractions and sporting events, as well as discount reservations for dining. Tix4Tonight also serves as the Official Las Vegas Guest Services Partner for Expedia and its other brands. The co-branded Expedia Local Expert service provides both pre-arrival concierge-type services and in-market concierge-type desk services and related customer service support at physical locations in Las Vegas, featuring Tix4Tonight's inventory of discount show and attraction tickets, along with discount dining reservations.
Safe Harbor Statement
Except for the historical information contained herein, certain matters discussed in this press release are forward-looking statements which involve risks and uncertainties. Forward-looking statements include, but are not limited to, statements about our future revenues and financial position. These forward-looking statements are based on expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties which could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties are discussed in the Company's filings with the OTCQX. The Company assumes no obligation to update these forward-looking statements. A copy of the Company’s reports for the twelve months ended December 31, 2016 can be found on the Company website at www.tixcorp.com or at www.otcmarkets.com.