WOWIO, INC. Prepares for Major Acquisition
Nov 30, 2018
| Source: Wowio, Inc.
WOWIO Sells Its Option on Restaurant Businesses to M Line Holdings, Inc.
Henderson, NV, Nov. 30, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Wowio, Inc. (OTC Pink: WWIO) “WWIO or The Company” has recognized after considerable due diligence that the right direction for the Company is in the development of property in the US via a major acquisition of a more than 200 acre resort property. WWIO is therefore selling its now expired options on restaurants in Arizona to position WWIO to complete this acquisition. The management team is also focusing on its house building projects in California. The terms for WWIO to acquire a majority interest of this fabulous project are being finalized to be announced in the coming days. Tony Anish, CEO of Wowio, Inc. stated; “It has taken us a while to recognize where we should expend our energy in relation to the growth of WWIO. M Line is paying WWIO 30,000,000 restricted shares for the expired options in the form of a convertible preferred stock that cannot be converted for eighteen months. WWIO is going to maintain a very small head office overhead while working with a small team of experienced professionals that will assist in the management of the homebuilding business and the new project. We will continue to seek out synergistic opportunities that will enhance the business, provide growth and improved shareholder value.”
Tony Anish further commented: “We are very close to completing the financial statements and will begin filing the statements next week. Stay Tuned, much more news to come.”
About Wowio, Inc.
WOWIO, Inc., has in the past been a digital media and technology development company with a patented process and a proprietary mobile ad-delivery platform that planned to disrupt the eBook distribution landscape by exploiting a previously untapped marketplace: ad-supported eBooks. However, Wowio’s direction is in the real estate space with two house building projects in in California and growth in real estate development in other parts of the US. Safe Harbor and Informational Statement
This press release may contain forward-looking information within the meaning of Section 21E of the Security Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statement of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial conditions or results of operations; (iii): the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may", "would", "will", "expect", "estimate", "anticipate", "believe", "intend", and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statement are not a guarantee of future of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk disclosed in the company's statements and reports filed with the OTC Markets. The Company claims the safe harbor provided by Section 21E(c) of the Exchange Act for all forward-looking statements. For more information contact Anthony L. Anishinformation@wowioinc.com