SEATTLE, WA–(Marketwired – Nov 14, 2017) – ReelTime Rentals, Inc. DBA ReelTime VR (OTC PINK: RLTR) has secured a two million dollar funding commitment from Media Funding Group (MFG) for the purpose of purchasing mainstream media promoting its Virtual Reality Series, other productions, and VR products.
MFG has provided $2,000,000 in pre-paid media placement opportunities and services in exchange for a convertible note for $2,000,000 which converts at a price of $1.00 per share. MFG may only convert shares consistent with the amount of media utilized by ReelTime VR as a direct result of signed insertion orders. ReelTime is not obligated to use any portion of the funding but may utilize it at its discretion according to the guidelines of the agreement within 24 months. The media assignment can be used on Television, Radio, Out of Home, Digital Display and print publications including Airline and mainstream magazines subject to normal placement terms.
The parties had previously reached a similar agreement in September 2015 but due to circumstances they were unable to proceed. This agreement replaces the previous agreement that had been vacated.
Marc Hatch, NWBB, remarked: “ReelTime VR is clearly among the leaders and pioneers in the rapidly growing Virtual Reality production and technology industry. When the general public becomes aware of what they have been doing, whom they have been doing it with, and all that has been accomplished over the past year they will truly be blown away. We priced this deal based on our conservative valuation and feel that at this level we will be very well positioned in the long run. There are simply no other legitimate pure VR companies that we are aware of that allow an opportunity to get in on the ground level with a leader in the field that has been in this explosive industry since its inception.”
Barry Henthorn, CEO, stated: “Now that we have the ability to advertise and get the word out about ReelTime VR, the work we have been doing, and our new products, we expect ReelTime VR to become known and respected outside of the industry in addition to its stellar reputation among other high-end VR production facilities. We will begin advertising as soon as our already produced commercials are able to get in the advertising queue across multiple platforms.”
About ReelTime VR: ReelTime Rentals, Inc. DBA ReelTime VR is a publicly traded company based in Seattle, WA (OTC PINK: RLTR). ReelTime is in the business of developing, producing, and distributing Virtual Reality Content and technologies. We have end to end production, editing, and distribution capabilities for internal and external projects. ReelTime Currently produces three ongoing series for the Samsung Gear VR platform and distributes them over numerous VR delivery portals.
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