SOURCE: Global Gaming Network, Inc.

June 15, 2015 16:30 ET

Global Gaming Network, Inc. Retires All Convertible Debt

LOS ANGELES, CA--(Marketwired - Jun 15, 2015) -  Global Gaming Network, Inc. (OTC PINK: GBGM) ("Company") announces that it has fully paid and retired the convertible note held by Carebourn Capital LP effective May 27, 2015 . The Company currently has no other convertible notes on its balance sheet, but will continue to seek out appropriate forms of equity and/or debt to properly fund the Company in order to successfully accomplish its present and future goals.

"We are pleased to have quickly and successfully retired the Carebourn debt and we are looking forward to growing shareholder value via our acquisition of Innovativ Media Group, Inc.,, a transaction we expect to close by the end of the month. This important acquisition allows the Company entry into the expanding digital entertainment business gaining experienced management and established assets, while still retaining an active division focusing on licensing customized fantasy sports games to casinos, sports bars and restaurants nationwide," said Stephen Kern, President of the Company.

About Global Gaming Network, Inc.

Global Gaming Network, Inc. is a developer, distributor and aggregator of digital entertainment and sports information for online and mobile platforms.

About Innovativ Media Group, Inc.

Innovativ Media Group (Innovativ) is a developer, producer and distributor of multi-media content. It has acquired many of the assets of Lux Digital Pictures including a library of feature motion pictures and, via New Broadway Cinema, produces adaptations of stage shows utilizing its trademarked DigiTheater™ green screen process. Innovativ also operates The Alien Channel on YouTube, in partnership with FullScreen, Inc., is developing the new web series Just Smart People, the customized movie title search destination VOD Movie Guide and is a principal in the Film Finance Exchange.

Forward-Looking Statements:

This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward‐looking public statements concerning its expected future operations, performance and other developments. Such forward‐looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such.

Contact Information

  • Contact:
    Stephen Kern