Bravo Multinational, Inc. (BRVO) Announces the Signing of a Letter of Intent to Acquire Streaming TVEE Assets to Launch TVee NOW™

Rhea-AI Summary

Bravo Multinational, Inc. (BRVO) entered a Letter of Intent to acquire assets of Streaming TVEE, Inc. for $9,760,000, including a convertible promissory note and assumption of debt. The acquisition aims to develop a streaming service called TVee NOW™, offering linear TV and on-demand content at no cost to viewers.

VIRGINIA BEACH, Va., Jan. 19, 2024 (GLOBE NEWSWIRE) -- On December 20, 2023, Bravo Multinational, Inc. (OTC: BRVO) ($BRVO) (“Bravo”) entered a Letter of Intent (the “LOI”) to acquire certain assets of Streaming TVEE, Inc. (“STV”). The purchase price for the assets is $9,760,000, consisting of a convertible promissory note in the amount of $7,760,000 and an assumption of $2,000,000 in STV debt. The promissory note is convertible into the common stock of BRVO based on the December 11, 2023, closing price of BRVO common stock as traded or the OTC Market (pink sheets), which is $0.15625. The LOI is subject to normal terms of an agreement of that nature.

This transaction, if consummated, will serve as a business foundation for the Company’s planned development of a streaming service called TVee NOW™. The assets to be acquired will provide BRVO with the technology and music library streaming rights to offer content such as linear TV, often referred to as traditional broadcast TV, as well as an array of on-demand content, including but not limited to, movies, series, shows, concerts, comedy specials, events and more – all at no cost to its viewers. The parties have agreed to continue to move forward with the transaction by the preparation of a definitive agreement upon the completion of customary due diligence procedures.

To learn more about Bravo Multinational, please visit: https://bravomultinationalinc.com.

About Streaming TVEE, Inc.

Streaming TVEE, Inc. is currently Beta testing TVee NOW on the Roku application. If successful, management hopes to provide a seamless blend of traditional broadcast TV and a vast on-demand library, including movies, series, concerts, and more. Beyond entertainment, Streaming TVEE is committed to social impact through strategic partnerships with philanthropic organizations, actively contributing to community development. The company envisions a world where entertainment transcends boundaries and enriches lives, striving to redefine the digital entertainment landscape while making a positive difference in society.

About Bravo Multinational, Inc. (OTC: BRVO) ($BRVO):

Bravo Multinational, Inc. (OTC: BRVO) ($BRVO) is actively exploring opportunities in the entertainment, hospitality, and technology sectors to generate long-term value for its shareholders through high-growth business ventures. Currently focused on pioneering innovative solutions in the digital content landscape, Bravo’s goal is to provide cutting-edge and diverse content experiences to a global audience - https://bravomultinationalinc.com/

Forward-Looking Statements: 

Certain statements contained in this press release are forward-looking statements and are based on future expectations, plans, and prospects for Bravo’s business and operations and involve a number of risks and uncertainties. Bravo’s forward-looking statements in this release are made as of the date hereof and Bravo disclaims any duties to supplement, update or revise such statements on a going forward basis whether as a result of subsequent developments, change or expectations or otherwise. In connection with the “safe harbor” provision of the Private Securities Litigation Reform Act of 1995, Bravo is identifying certain forward-looking information regarding, among other things, the Important factors that could cause further events or results to vary from those addressed in the forward-looking statements, including, without limitation, risks and uncertainties arising from the ability of Bravo to successfully manage the assets; uncertainties relating to the ability to realize the expected benefits of the business plan; unanticipated or unfavorable regulatory matters; general economic conditions in the industry in which the company operates, and other risk factors as discussed in other Bravo filings made from time to time with the United States Securities and Exchange Commission.

Contact:

Bravo Multinational, Inc.
info@bravomultinationalinc.com
757-306-6090

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/61408e76-0121-435a-8f4c-8f154b083c69

FAQ

What assets did Bravo Multinational, Inc. (BRVO) enter a Letter of Intent to acquire?

Bravo Multinational, Inc. (BRVO) entered a Letter of Intent to acquire certain assets of Streaming TVEE, Inc. for $9,760,000, including technology and music library streaming rights.

What is the purchase price for the assets?

The purchase price for the assets is $9,760,000, consisting of a convertible promissory note in the amount of $7,760,000 and an assumption of $2,000,000 in STV debt.

What is the planned development of Bravo Multinational, Inc. (BRVO) after the acquisition?

The acquisition aims to serve as a business foundation for the Company’s planned development of a streaming service called TVee NOW™, offering linear TV and on-demand content at no cost to viewers.

What type of content will be offered through the streaming service TVee NOW™?

The streaming service TVee NOW™ will offer content such as linear TV, movies, series, shows, concerts, comedy specials, events, and more.

What is the expected cost for viewers of the streaming service TVee NOW™?

The streaming service TVee NOW™ will offer content at no cost to its viewers.