MEDIA GLOBO Celebrates Ninth Annual Shareholder Meeting
MGLO Crowdfunding and Registration as a JOBS Act Funding Portal
DENVER, CO – ( December 15, 2016 ) – The MEDIA GLOBO Corporation [ MGLO ] announced today that the Company formally held its 2016 Ninth Annual General Meeting of Shareholders on November 19, 2016, and all proposed business development initiatives received overwhelming proxy approval.
The MEDIA GLOBO shareholders approved authorization for Company management to proceed with registration as a “funding portal” for accredited-only investors under Title II and for equity crowdfunding investors under Title III, respectively, of the Jumpstart Our Business Startups (JOBS) Act of 2012. The overall purpose of the JOBS Act is to ease restrictions on capital raising for early-stage companies. The JOBS Act contains six sections, or titles, making significant changes to the federal securities laws. After two years of public comment and debate the U.S. Securities and Exchange Commission (SEC) approved the final version of “Regulation Crowdfunding” on October 20, 2015 and the new rules became effective May 16, 2016. MEDIA GLOBO now plans to proceed with formal registration before the SEC and Financial Industry Regulatory Authority (FINRA) in compliance with all applicable JOBS Act rules and regulations.
As part of the Company’s forward-looking strategic plan the MEDIA GLOBO shareholders re-approved technology development of a proprietary crowdfunding platform and market positioning as a leading publicly-traded “crowd round” provider of financial support for individual projects and business services for early-stage companies. The announcement follows shareholders’ approved expansion of the Company’s State of Colorado and State of California business operations, including registration as a State of Colorado corporation, effective January 28, 2012, as well as funding the Company's new media projects and productions in Santa Monica, California.
The announcement also follows a MEDIA GLOBO trademark registration, approved by the U.S. Patent and Trademark Office on July 9, 2013, and the Company’s ongoing investment in and development of The People’s Venture Capital Company TM, The Education Channel TM and Walden High TM as key initiatives within the online secondary education and crowdfunding markets. Further announcements are expected.
A quorum of 93,169,183 common shares of the total 93,722,227 issued and outstanding common shares in MGLO, as of the Company’s June 30, 2016 fiscal year-end, tendered proxies in favor of (“FOR”) the proposed matters of business at the meeting; thus representing 99.4 % of all MGLO common stock voting shares, as of the record date for the 2016 Annual General Meeting of Shareholders of The MEDIA GLOBO Corporation.
In addition to approving the Company’s online education business and crowdfunding portal registration, MGLO shareholders re-approved the 2007 business merger between MEDIA GLOBO and AXESS MEDIA, including its predecessor BIOLOGIX [OTCBB: BGIX], as well as the 2007-2008 NASDAQ approved reverse splits of MEDIA GLOBO's publicly-traded common stock securities. For more visit the Company’s website at: www.mediaglobocorp.com.
SAFE HARBOR STATEMENT
INCLUDED IN THIS PRESS ANNOUNCEMENT AND REFERENCED HEREUNDER ARE THE MEDIA GLOBO CORPORATION FORWARD-LOOKING STATEMENTS AND PROJECTIONS WITHIN THE MEANING OF SECTION 271 OF THE SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. ALTHOUGH THE COMPANY BELIEVES THAT THE EXPECTIONS REFLECTED IN SUCH FORWARD-LOOKING STATEMENTS ARE REASONABLE, IT CAN GIVE NO ASSURANCE THAT SUCH EXPECTATIONS REFLECTED IN SUCH FORWARD-LOOKING STATEMENTS WILL PROVE TO BE CORRECT, NOR RELIED UPON FOR INVESTMENT PURPOSES.