LAS VEGAS--(BUSINESS WIRE)--Publicly-held MC Endeavors, Inc. (OTC Pink: MSMY) is providing stockholders with an update regarding the status of the corporation and its strategic objectives for the remainder of 2017. As previously announced, MC Endeavors is subject to a court-appointed custodianship in the State of Nevada. The custodian, International Venture Society, reinstated the corporation’s charter with the Nevada Secretary of State on August 23, 2017.
MC Endeavors, Inc. is pleased to announce that it has executed a letter of intent with Room 21 Media, Inc. as part of a reverse takeover or “RTO” transaction. Subject to regulatory approval and the fulfillment of contractual obligations, if successful, the merged company will be named “Room 21 Media, Inc.” Upon successful completion of the transaction, Room 21 Media, Inc. Chief Executive Officer, John Stippick will be appointed CEO and also be named the Director of the combined company.
International Venture Society’s CEO Kelani Long stated, “We will continue to work to discharge the duties of the court-appointed custodian in an expeditious manner, which includes the holding of a meeting of stockholders.” She continued, “In addition, I am very excited about the plans discussed with Room 21 Media thus far and have confidence the RTO could provide some thrilling possibilities in terms of shareholder value.”
While not an obligation of the court-appointed custodian, MC Endeavors will also seek to become current with its reporting obligations to OTC Markets. To such end, the corporation will also confer with its legal counsel regarding the possibility of removing the “caveat emptor” status on the marketplace. Should it become appropriate and necessary, MC Endeavors will seek to petition FINRA for a name and symbol change, although no assurances that any such proposed corporate action will in fact be approved.
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.