Eventure Interactive, Inc. has Determined that it is in the Best Interest of the Company and Shareholders to Withdrawal its Existing PRER14C Information Statement and to Terminate its Equity Purchase Agreement with Aladdin Trading, LLC
COSTA MESA, CA /ACCESSWIRE / August 27, 2015 / (EVTI), a social application and technology development Company whose mission is to enrich event participation, today announced that it has withdrawn a recently filed PRER14C Information Statement to potentially increase its Common Stock Authorized Share amount to two-billion, leaving the current authorized amount at one-billion. Additionally, the Equity Purchase Agreement with Aladdin Trading dated November 25, 2014 has been terminated effective today. These actions taken are to provide more clarity into the Company's existing capital structure and allow for a longer-term financing strategy going forward that optimizes current funding relationships.
"The Board of Directors continues to weigh all options to maximize our Capitalization structure. With Eventure's funding partners, it has been concluded best to work within the current authorized amount for future financings," said Michael Rountree, Chief Financial Officer of Eventure Interactive, Inc. "With the sole focus of providing for long-term shareholder value as well as securing needed financing, we believe the moves that we made today best satisfy our short and longer-term objectives," continued Mr. Rountree.
About Eventure Interactive, Inc.
Eventure's business is to connect people locally for controlled sharing of their lives.
Every day, millions of people are forced to use multiple applications to plan, invite, navigate, capture, organize and share their social and business events. Without organization and a simple retrieval system, sharing and recalling memories are often difficult, and many times non-existent. In addition, currently used techniques of memory sharing are person-to-person as opposed to persons-to-event, so many captured memories never end up being shared in a controlled group environment. Eventure solves for this very problem. Our proprietary technologies are robust, yet simple-to-use which address inefficiencies in the social marketplace by enabling captured memories to be centrally stored and effortlessly shared among event attendees in a secure, real-time environment. From our Social Calendar, to our Wearable Camera Technologies, to our Event based Games, Eventure truly redefines how one creates, curates and organizes life's most memorable moments.
For more information please visit: www.eventure.com
Forward Looking Statements:
This press release contains 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, which are made in accordance with the Private Securities Litigation Reform Act of 1995. Our actual results may differ materially from those implied in these forward-looking statements as a result of many factors, including, but not limited to, overall industry environment, customer acceptance of our products, delay in the introduction of new products, further approvals of regulatory authorities, adverse court rulings, production and/or quality control problems, the denial, suspension or revocation of permits or licenses by regulatory or governmental authorities, termination or non-renewal of customer contracts, competitive pressures and general economic conditions, and our financial condition. These and other risks and uncertainties are described in more detail in our most recent annual report on Form 10-K and other reports filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made. We undertake no obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur, except as required by applicable laws, and you are urged to review and consider disclosures that we make in the reports that we file with the Securities and Exchange Commission that discuss other factors germane to our business.
SOURCE: Eventure Interactive, Inc.