(TheNewswire)
Las Vegas, Nevada - TheNewswire- November 29, 2021 - CABO VERDE CAPITAL INC. ( OTC:CAPV ) (the “Company”) is pleased toannounce that it has executed a Binding Letter of Intent to acquire VYRE Network (https://vyrenetwork.com) (“VYRE”), a free global digital distribution multi-platformservice that licenses, live streams and produces a vast catalog ofexclusive content for streaming entertainment.
VYRE represents a visually driven culture ofMillennials and Generation X, Y, and Z’s expression of the visualsthat they love the most, entertaining & informative originalprograms, feature films, short films, music videos, live events, andmore. VYRE’s sole mission is to manage a global portfolio ofaward-winning content while bridging the gap between quality contentcreators and the worldwide distribution of their craft.
VYRE Network’s content includes movies, tv shows,episodic series and documentaries. Content is distributed through theVYRE APP to Apple TV, Roku, Amazon Fire Stick, Samsung TV’s,iPhones, Androids and more. Distributed content is monetized by havingpre-roll and mid-roll commercials, allowing users to always streammovies and shows completely free.
VYRE Live produces and manages the Company’s livestream entertainment distributed through the VYRE APP. Thispay-per-view component of the Company live streams concerts, specialevents, sporting events and more. VYRE Live brings live events fromaround the world to the living room of its users.
Vyre Studios & Productions (VSP) is the creativearm of the company that manages the creation of all original content,writing teams, content IP and licensing, and production houses, thatcreate original content for distribution to the world, through theVYRE APP. VSP is a one stop shop for creatives, full production, andsound stage rentals.
VYRE’s content is categorized by 18 niche brands thatrange from movies, music and live/on-demand sports. Domestic brandssuch as Unnecessary Humor, Vyre Living, Vyre Fam, and soon to belaunched Just Faith TV and Vyre business News Global. Music brandsconsist of True Magazine TV (Hip-Hop,) RnB Magazine TV, MGraceland TV(Pop/EDM,) and Relax TV. International focused channels such as It'sEspañol (Spanish,) Vasool TV (Hindi) and soon to be launched VyreAfrica, Vyre Asia, and Vyre Brazil will also be heavy with popularcontent for those particular regions.
VYRE Network was created by David Hill and Lamar Seayin 2019.
Background on the Creators of VYRENetwork
David Hill hasbeen in media and marketing for over 23 years. He has become a soughtafter strategist in marketing, business development, media and is aconnector in the entertainment space. He initially acquired hispassion for working in entertainment at the young age and isrecognized for promoting a variety of events early on in his career.
From his early days in event promotion, he turned tohis focus to media and marketing with the creation of his firstmagazine in 1997, True Magazine. Mr. Hill’s media company has grownover the years to include four national magazines and leading him towork with Kanye West, Jay-Z, Swedish House Mafia, Rihanna, Travisbarker, Justin Timberlake and top brands like Absolut Vodka, TrueReligion, Ed Hardy, Red Bull, to name a few. Through David's media andmarketing experience he took on the role to publish and revamp theNational Space Society's national magazine Ad Astra.
In addition to Mr. Hill’s business ventures, hespends a great deal of time volunteering, providing resources, andconsulting the Thinkwatts Foundation, an organization founded in 2018in Watts, California that focuses on food insecurities, financialliteracy, environmental justice, workforce development, health, andsports programming for underserved communities.
Under Mr. Hill’s consulting leadership, ThinkwattsFoundation has been able to provide food boxes to over 100,000+underserved residents, financial literacy to hundreds, improve thewater quality in the Watts community, and refurbished and built over16 basketball courts, a soccer court, and fitness gym free for allcommunity residents.
Lamar Seay is avisionary, leader, entrepreneur, connector, producer, and industryexecutive who holds a passion for creating what’s next. He is onewho is known for staying "ahead of the curve," along withhis awareness, analytical skills, and forward thinking.
Mr. Seay began his career as an accountant in theUnited States Marine Corps where he managed finances for severalsquadrons in the air wing, where he oversaw the AP/AR for helicopters,equipment, and supplies.
His film industry career began in 2006 as a consultantand co-writer on the independent film "The City is Mine,"which obtained global distribution. In those early days hesubcontracted to companies such as MySpace Inc., The HollywoodReporter, Nielsen, and various law offices throughout L.A. In 2011, hebecame a journalist at the #3 digital Hip-Hop magazine, True Magazine,where he ultimately rose to Chief Editor. He has produced; televisionshows for multiple media outlets, interviews with major music artists,stand-up comedy series, and over a dozen magazine issues. He has hadkey roles in music artist campaigns, film festivals, music concertsand more.
Lamar has been instrumental in team and companybuilding within Vyre Network by utilizing his skill of recognizing anddiscovering talent from executive, administrative, and project drivenstandpoints. Mr. Seay has also developed a great number of keyrelationships, brand partnerships, and content acquisition deals thatare a major component in where the company is today.
Deal Terms
The Company will acquire the entire VYRE Network entitywhich includes, but not limited to, all content, Vyre Networkchannels, VYRE Live, VYRE Studios & Productions, VYRE’sIntellectual Property, all streaming licenses, any proprietarytechnology currently in use, and all existing contracts. The Companywill issue 286,208,000 restricted common shares of the Company inexchange for the outstanding shares of VYRE Network. The Parties haveagreed that details of this transaction will be finalized in aDefinitive Agreement, which is to be completed on or before December10, 2021. Upon execution of the Definitive Agreement, the Company willapply for a name and symbol change to reflect the VYRE name.
Also, on signing of the Definitive Agreement, DavidHill will be appointed President of Cabo Verde Capital, replacing JohnDuggan, and Lamar Seay will become the Chief Operating Officer. JohnDuggan will remain an independent Director of the Company and Chairmanof the Audit Committee.
As compensation for its exclusive M&A Advisoryservices in connection with this transaction, as well as its ongoingbusiness development consulting work, Twilight Capital Inc. will beissued 35 million Series A Convertible Preferred Shares of theCompany.
For Further InformationContact:
Cabo Verde Capital, Inc.
818-579-2864
info@caboverdecap.com
www.caboverdecap.com
Forward Looking Statements - This releaseincludes “forward-looking statements” within the meaning ofSection 27A of the Securities Act of 1933, as amended, and Section 21Eof the Securities Exchange Act of 1934. Such statements include anythat may predict, forecast, indicate, or imply future results,performance or achievements, and may contain the words “estimate”,“project”, “intend”, “forecast”, “anticipate”,“plan”, “planning”, “expect”, “believe”, “likely”,“should”, “could”, “would”, “may” or similar words orexpressions. Such statements are not guarantees of future performanceand are subject to risks and uncertainties that could cause thecompany’s actual results and financial position to differ materially from those in such statements, whichinvolve risks and uncertainties, including those relating to theCompany’s ability to grow. Actual results may differ materially fromthose predicted and any reported should not be considered anindication of future performance. Potential risks and uncertaintiesinclude the Company’s operating history and resources, together withall usual and common economic, competitive, and equity marketconditions / risks.
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