SOURCE: The Glimpse Group, Inc.

December 08, 2016 10:49 ET

The Glimpse Group Launches Series A Funding Round

NEW YORK, NY--(Marketwired - Dec 8, 2016) - The Glimpse Group, Inc. (the "Company") a holding company for a diversified portfolio of Virtual Reality ("VR") and Augmented Reality ("AR") start-ups, today announced that it has launched the next phase of its funding strategy, a Series A round of financing through which it will seek to raise between $2 and $2.5 million, with a maximum raise of $5 million. Proceeds from the Series A round will be used for research and development, costs related to going public and for general working capital purposes.

"The Series A financing builds on the tremendous progress we have made this year," said Glimpse President and Chief Executive Officer Lyron Bentovim. Mr. Bentovim continued, "Over the last few months, we have reached significant milestones across our financial, management and operational fronts. We have on-boarded five subsidiaries and will be looking to add five more in the coming months as we lay the foundation for our next financial objective, which is expected to be a Regulation A+ initial public offering during 2017. We're enthusiastic about the opportunities in the Virtual and Augmented reality segments and believe that our unique approach to investment and diversification will yield strong results for our shareholders and entrepreneurs."

About The Glimpse Group, Inc.

The Glimpse Group is a company designed with the specific purpose of cultivating entrepreneurs in the VR and AR industry. Our unique business model simplifies the many challenges faced by entrepreneurs while simultaneously providing investors with an opportunity to invest directly into the emerging VR/AR space. The Glimpse Group funds, cultivates, and manages business operations while providing a strong network of professional relationships. Being a part of the Glimpse Group allows entrepreneurs to maximize their time and resources in pursuit of their mission-critical endeavors. For more information on The Glimpse Group, visit www.theglimpsegroup.com.

Safe Harbor Statement

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. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

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