SOURCE: Eight Dragons Co.

June 02, 2017 14:22 ET

Eight Dragons and Press Media Group Announce Joint Venture in Content Specific Media Streaming

MIAMI, FL--(Marketwired - Jun 2, 2017) - Eight Dragons Co. (OTCQB: EDRG) announces today that it has entered a joint venture with Press Media Group, Inc., an innovative multicultural streaming and entertainment platform provider, to create a content driven company dedicated to serving a variety of target audiences through independent fee-based streaming services and ad-based sales.

We believe that the joint venture will combine Eight Dragons' prospective financial strength with Press Media Group's industry-specific knowledge and will amplify the ability to compete in the global content streaming market, which according to data published by research firm MarketsAndMarkets is estimated to grow from USD 30.29 billion in 2016 to USD 70.05 billion by 2021, at a Compound Annual Growth Rate ("CAGR") of 18.3%.

The joint venture will be led by Alberto Marzan, Founder, CEO and Chairman of Press Media Group, Inc.

"This has always been more than just developing another streaming service, the core reflects our lens into culture and how we see our culture being represented which inspired me to create Press Media Group. Our impact on a global scale will be disruptive and the innovation we are bringing to the industry will clearly set us apart. We are truly excited about partnering with Eight Dragons Company, a true innovator that understands the power of mutually beneficial relationships," stated Alberto Marzan, Founder, CEO and Chairman of Press Media, Inc. "Eight Dragons' vision of connecting energetic and imaginative people to create products and services for the betterment of humankind is strategically aligned with Press Media's vision and we look forward to a long-lasting and profitable relationship with Una Taylor and the Eight Dragons team."

"We are truly pleased to announce our partnership with Alberto Marzan and Press Media Group, Inc.," stated Una Taylor, Chairman and Chief Executive Officer of Eight Dragons. "Our joint venture with Press Media launches our business diversification strategy which is designed to accumulate exceptional product offerings in unique, high growth markets. We believe our joint venture with Press Media, if successful, will generate significant revenues, profits and market appreciation for our company."

About Press Media, Inc.

Press Media Group, Inc., a preferred entertainment destination for multicultural consumers seeking a variety of culturally relevant videos, films, music, audiobooks, and lifestyle content will provide a place for African-American, Afro-European and audiences of African Diaspora to connect and exchange ideas sparked by relatable content. Our mission is for our global culture to connect and contribute through a dynamic digital experience. For more information on Press Media Group, Inc., please visit the company's website at www.pressmediagroup.net (which is expressly not incorporated into this email).

About Eight Dragons Company

Eight Dragons Company (OTCQB: EDRG) is a technology-investment company that invests in and operates companies to support a full-stack development eco-system. Headquartered in Miami, FL and commencing operations in 2017, Eight Dragons seeks to help companies using innovation and vision to address the world's biggest challenges and realize exponential opportunities. For more information on Eight Dragons, please visit our website at www.edrg.com, or follow us on Twitter at @edrgco (both of which are expressly not incorporated into this press release).

Forward-Looking Statements: Except for historical matters contained herein, statements made in this press release are forward-looking statements. Without limiting the generality of the foregoing, words such as "may", "will", "to", "plan", "except", "believe", "anticipate", "intend", "could", "would", "estimate", or "continue", or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Also, forward-looking statements represent our management's beliefs and assumptions only as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially for those anticipated in these forward-looking statements, even if new information becomes available in the future. The Company is subject to the risks and uncertainties described in its filings with the Securities and Exchange Commission, including the section entitled "Risk Factors" in its Annual Report on Form 10-K for the year ended December 31, 2016 and its Quarterly Reports on Form 10-Q.

Contact Information

  • Contact Information:

    Martin E. Schmieg
    Chief Financial Officer
    Eight Dragons Company
    Tel. 1 (215) 300-9400
    Email. martin.schmieg@edrg.com

    For Media and Investor Contact:
    Luna Consultant Group
    702.333.4886
    www.lcginfo.com