SANFORD, MI--(Marketwired - Nov 16, 2016) - HPIL Holding (the "Company") (OTC PINK: HPIL) is pleased to announce that on November 9, 2016, the Company entered into a Securities Purchase Agreement (the "Securities Purchase Agreement") with GPL Ventures, LLC ("GPL Ventures"). The Company and GPL also entered into a Registration Rights Agreement dated November 9, 2016 (the "Registration Agreement", and together with the Securities Purchase Agreement, the "Agreements"). Details on the Agreements can be found on the Company's Form 8-K filed with the Securities and Exchange Commission ("SEC") on Monday, November 14, 2016.
GPL Ventures, a leading Manhattan-based Alternative Investment Fund, and HPIL Holding are pleased to announce the closing of a $5.6 million commitment.
Nitin Amersey, CFO of HPIL Holding, stated, "We're excited to be working along with GPL Ventures, as they have a proven track record when it comes to the execution of these large financing transactions."
"We're happy to add HPIL Holding to our portfolio family and thrilled to be a part of its explosive growth going forward," said Alexander Dillon, the Managing Member of GPL Ventures.
This facility will give HPIL the financial confidence it needs moving forward, as it will assist HPIL to meet its funding needs to sustain and add growth, without taking on adverse debt. We plan to build out our team, start a significant marketing campaign to spread our story and look for strategic acquisition targets with the initial tranches of investment capital.
With the finalization of this financing facility the Company has begun to actively look for potential investments in the encrypted communications area, especially involving iOS and Android smartphone applications. The Company also seeks investment opportunities in the smartphone digital payments space. The Company will also look to expanding its arrangements with the World Karate Federation (WTFSKF - web site http://www.wtfskf.org) under the Brand Licensing Agreement it signed on December 29, 2014, and which the Company previously filed with the SEC as an exhibit to a Form 8-K.
Mr. Nitin Amersey, CFO of HPIL Holding, said, "We look forward to implementing and realizing our strategic vision."
HPIL Holding (http://hpilholding.com) is a diversified holding company listed on OTC Markets. HPIL Holding is focused on investing in both private and public companies in differing business sectors. HPIL Holding does not restrict its potential candidate target companies to any specific business, industry or geographical location and, thus, acquires various types of businesses. Also HPIL Holding evaluates the acquisition of intellectual properties and technologies.
Safe Harbor / Forward-Looking Statements:
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as "anticipate," "believe," "forecast," "estimate," "expect," "plan," "potential," "seek," and "intend," among others. These forward-looking statements are based on the Company's current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, substantial competition; our possible need for financing; uncertainties of technological changes; and dependence upon third parties. The Company does not undertake an obligation to update or revise any forward-looking statement. All of the Company's forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date hereof.