HALLMARK VENTURE GROUP, INC. SECURES INITIAL $50,000 IN BRIDGE FINANCING AND WELCOMES NEW DIRECTOR

Rhea-AI Summary

Hallmark Venture Group (OTC: HLLK) has secured $50,000 in bridge financing to support its expansion in search engine marketing and machine learning initiatives. The company announced the appointment of Nick Cardosi to its Board of Directors and relocated its headquarters to Las Vegas, Nevada. HLLK has partnered with Creative Venture Capital for traffic generation to the Jubilee platform with revenue-sharing arrangements. Additionally, the company formalized an Executive Compensation Agreement with CEO Evan Bloomberg, including $1,000,000 in common stock, $340,000 annual salary, and performance-based bonuses.

Positive

• Secured $50,000 in bridge financing for expansion
• New partnership with Creative Venture Capital for traffic generation
• Strategic relocation to Las Vegas market

Negative

• Significant executive compensation package ($1.34M) relative to announced financing ($50K)
• initial bridge financing amount may not sufficiently support growth initiatives

LAS VEGAS, Nov. 5, 2024 /PRNewswire/ -- Hallmark Venture Group, Inc. (OTC: HLLK) ("HLLK" or the "Company") is pleased to announce in an 8k filed today that it has secured $50,000 in initial bridge financing. This funding will drive the Company's ongoing expansion in search engine marketing (SEM), support machine learning advancements, and facilitate key talent acquisition.

The Company is also excited to welcome Nick Cardosi as the newest member of its Board of Directors, strengthening its leadership team and enhancing its expertise.

Additionally, Hallmark Venture Group has moved its principal place of business to Las Vegas, Nevada, positioning the Company for further growth and market accessibility.

In partnership developments, HLLK has entered into an agreement with Creative Venture Capital LTD ("CVC"). Under this agreement, CVC will continue to introduce high-quality traffic to the Jubilee platform, with revenue-sharing arrangements in place to benefit both parties.

The Company has also formalized an Executive Compensation Agreement with its President and CEO, Evan Bloomberg. The 24-month agreement includes $1,000,000 in shares of Company common stock, an annual salary of $340,000, and a tiered performance bonus linked to quarterly revenue milestones.

About Hallmark Venture Group, Inc.

Hallmark Venture Group, Inc. (OTC: HLLK) is a digital marketing leader specializing in machine learning and AI solutions to automate and optimize ad campaigns. The Company's platform provides real-time insights that maximize ROI with minimal manual intervention.

Through its subsidiary, Jubilee Intel, HLLK continues to pioneer advancements in digital marketing. The team is focused on cutting-edge projects to enhance keyword research, traffic quality, and time-series data analysis, all aimed at boosting efficiency and profitability for digital advertising campaigns.

Safe Harbor Statement

Safe Harbor This release contains statements that constitute 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. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may","would", "will", "estimate", "can", "believe", "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in the Company's filings with the Securities and Exchange Commission and/or OTC Markets.

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SOURCE Hallmark Venture Group, Inc.

FAQ

What is the amount of bridge financing secured by Hallmark Venture Group (HLLK) in November 2024?

Hallmark Venture Group (HLLK) secured $50,000 in initial bridge financing.

What are the terms of HLLK's CEO compensation package announced in November 2024?

The CEO's 24-month compensation package includes $1,000,000 in common stock, $340,000 annual salary, and performance-based quarterly bonuses.

What is the partnership agreement between HLLK and Creative Venture Capital ?

HLLK partnered with Creative Venture Capital to drive traffic to the Jubilee platform with revenue-sharing arrangements between both companies.

Where did Hallmark Venture Group (HLLK) relocate its headquarters in 2024?

Hallmark Venture Group relocated its principal place of business to Las Vegas, Nevada.