GRASS VALLEY, CA--(Marketwired - Feb 1, 2017) - Simlatus Corporation (OTC PINK: SIML) -- announces today that they have closed a $5M funding program to complete and launch their new immersive virtual-augmented reality products.
To listen to the interview please click the link below:
Chairman Robert Stillwaugh stated, "We have interviewed many potential funding partners in the past six months, and have found that Tri-Bridge Ventures, LLC are more than qualified to provide the necessary funding for launching our immersive technology products. Tri-Bridge Ventures, LLC is a New York based Institutional Investor that focuses on transactions with publicly traded companies. The firm sources, structures and executes on investments in publicly traded companies with market capitalization primarily under $250 million. The Tri-Bridge Ventures team has the experience and understanding of the public markets to identify investment opportunities as well as the ability to structure both equity and debt transactions."
Simlatus entered into a Securities Purchase Agreement on January 19, 2017 with Tri-Bridge Ventures, LLC, whereas Tri-Bridge Ventures, LLC agrees to purchase and the Company desires to issue and sell, upon the terms and conditions set forth in the Agreement, up to Five Million Dollars ($5,000,000.00) of the Company's common stock pursuant to the filing of a Form S-1 Registration.
Chairman Stillwaugh further stated "We are positioned with current sales of our commercial products to sell our IBS product to our large broadcast studio customers. We have a strategic technology roadmap which will enable the company to expand into the high-growth digital commercial broadcast equipment markets as we capitalize on our existing relationships we have bridged with major studios, and many other studios worldwide. The immersive technology industry consisting of both 'Augmented Reality and Virtual Reality' is extremely lucrative with a very high potential for offering our platforms and applications we are currently developing, and some that are still unexplored. In order to be ahead of the curve, Simlatus has invested on deploying the R&D team that is dedicated on both business and technical innovations. Our new funding program drives home the product to market."
The Simlatus-IBS is our new commercial and consumer Immersive Broadcast Studio. Our customers can operate the commercial studio through the use of 3D UHD Immersive Goggles that support our secure software platform that operates our current commercial studio products. The consumer version will allow users to setup their own immersive virtual studio for personal online broadcasts.
ABOUT SIMLATUS: www.simlatus.com
Simlatus Corporation designs, manufactures and sells commercial audio and video broadcast equipment worldwide. The company has a current expanding revenue base in the broadcast industry with long-term national and international distribution. Our customers include large broadcast giants such as CBS, NBC, ABC, FOX, ESPN and DIRECTV, as well as many smaller broadcast customers which include religious facilities, international broadcast facilities, colleges, and radio stations. The new Simlatus-IBS™ will allow the company to capitalize in the $120B growing industry of augmented/virtual reality.
Safe Harbor for Forward-Looking Statements: This news release includes forward-looking statements. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The Company's operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are and will be set forth in the company's periodic filings with the U.S. Securities and Exchange Commission.