LAS VEGAS--(BUSINESS WIRE)--Publicly-held MC Endeavors, Inc. (OTC Pink: MSMY) is providing stockholders with an update regarding the status of the reverse takeover. As previously announced, MC Endeavors signed a letter of intent with Room 21 Media to complete a reverse takeover or “RTO” transaction.
MC Endeavors, Inc. is pleased to announce that it has remitted the definitive closing documents to Room 21 Media, Inc. as the final step in the RTO transaction. Room 21 Media’s attorneys are currently reviewing the documents and will provide feedback in the coming days. If both parties agree to all terms and the RTO is executed, the merged company will be named “Room 21 Media, Inc.” and Room 21 Media, Inc. Chief Executive Officer, John Stippick will be appointed CEO and be named the Director of the combined company.
International Venture Society’s CEO Kelani Long stated, “We couldn’t be more excited to move to the next step of the process with Room 21 Media.” She continued, “We believe in the Room 21 Media business model and ability to increase revenues by scaling their business and branching out to new growing sectors".
Once an RTO is completed MC Endeavors will also seek to become current with its reporting obligations to OTC Markets.
About Room 21 Media, Inc.
Room 21 Media, Inc. is committed to becoming a leading global social commerce company that utilizes a single core platform, Room 21®, to produce, distribute and monetize online communities for individuals and businesses to interact with industries ranging from industrial business to healthcare to entertainment. The Room 21® proprietary platform utilizes an internal replication technology and is branded to each social app, industry vertical, event, film, or online contest we produce.
For more information, please visit http://room21media.com/
Statements in this press release that are not historical fact may be deemed 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. Although MC Endeavors Inc. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, MC Endeavors Inc is unable to give any assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include the company’s ability identify a suitable business model for the corporation.