SOURCE: WRIT Media Group, Inc.

May 03, 2016 08:30 ET

WRIT Media Group, Inc. Enters Into Exclusive Discussions With Pandora Venture Capital Corp. for the Acquisition of Its Digital Currency Technologies

LOS ANGELES, CA--(Marketwired - May 3, 2016) - WRIT Media Group, Inc. (OTC: WRIT) today announced that it has entered into exclusive negotiations with private equity firm Pandora Venture Capital Corp. to acquire its digital currency technologies. In the proposed transaction, WRIT Media Group would acquire a controlling interest in the technologies.

WRIT Media Group plans to use the digital technologies to organize trade in digital currency instruments. The potential acquisition will also include a digital currency which combines the advantages of its unique marketing model which creates the actual value, and the most popular system of mining cryptocurrency Bitcoin.

The equity for the transaction would be provided by WRIT Media Group, Inc., with additional funding provided by Pandora Venture Capital and its related European private equity partners. Pandora Venture Capital focuses on development stage technology opportunities. This would be the first investment by WRIT Media Group into digital currency technologies. In the past, WRIT Media Group has taken controlling positions in development stage entertainment and video game companies with brand names or market expertise.

The offer is subject to WRIT Media Group's due diligence of the relevant technologies, and all parties will enter into the final negotiations on successful completion of this process.

Companies: WRIT MEDIA GROUP, INC. (OTC: WRIT)

Cautionary Note Regarding Forward-Looking Statements
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, but not limited to, those discussed in WRIT Media Group's latest 10-Q filed December 31, 2015. The company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

CrypStock, and related trademarks and names are the property of Pandora Venture Capital Corp. and are registered and/or used in the U.S. and countries around the world. All rights reserved. All other trademarks belong to their respective owners.

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