LOS ANGELES, March 05, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- VGTel, Inc. (OTC:VGTL) (“VGTL” or the “Company”), a multi-platform company in the entertainment industry with a focus on a strategy of growing and building business units through investments and acquisitions, announces today that it has both appointed Mark B. Newbauer as its new Chairman and CEO and has entered into an Asset Purchase Agreement to acquire certain media and entertainment assets from Mike the Pike Productions, Inc. (OTC:MIKP).
For the purposes of the transaction, a new subsidiary has been formed – Mike The Pike Entertainment, LLC – which will be used to house and operate the newly acquired assets and specialize in the further acquisition and development of Entertainment and Media intellectual properties. Furthermore, VGTL has acquired the web domain www.mikethepike.com as the continued use of the “Mike the Pike” name was agreed to for the purpose of brand continuity and integrity. More details about the media assets acquired will be disclosed in subsequent announcements.
“I couldn’t be more thrilled about the opportunity that this transaction will allow for shareholders of both Mike The Pike Productions (MIKP) and VGTL, especially given VGTL’s history in acquiring and monetizing media assets in previous years,” commented Mark Newbauer. “We have been able to source some incredible and highly sought-after media assets and it is our hope that we are able to bring these assets to market creating great value to VGTL, Mike the Pike and our shareholders,” further comments Mr. Newbauer.
Concurrent to Mr. Newbauer’s appointment as Chairman and CEO, Neil Fogel has resigned his position as Director and CFO to pursue his CPA practice and has agreed to serve as a consultant to further assist VGTL with general bookkeeping and accounting related services.
VGTL is actively working to update OTC Markets, its corporate website and social media accounts to properly reflect its path forward and business model. The Company will focus its efforts on bootstrapping a multi-faceted media and entertainment holding company and is not currently pursuing any further activity with previously announced ventures.
About Mark B. Newbauer:
Mark B. Newbauer graduated from the renowned film and producer’s track at Columbia College Chicago as well as The Second City Chicago Training Center. He is currently producing several projects on behalf of Mike the Pike Productions including The Mice Templar, George R.R. Martin’s The Skin Trade, Beyond White Space and others. More on Mark Newbauer and his career in film can be found at IMDB.com at http://www.linkedin.com/in/markbnewbauer. Newbauer is also a licensed broker, Key Leader and National Hiring Manager with Symmetry Financial Group. Newbauer’s agency has grown from $0 in 2016 to over $500,000 in annual premium sales in 2018. Newbauer is also founder and president of OTC PR Wire, a premier reseller of press releases for the OTC Markets with revenues currently in excess of $400,000 per year .
Cautionary Statement Regarding Forward-Looking Statements
Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. These statements include but are not limited to statements regarding the intended terms of the offering, closing of the offering and use of any proceeds from the offering. When used herein, the words "anticipate," "believe," "estimate," "upcoming," "plan," "target", "intend" and "expect" and similar expressions, as they relate to the Company, its subsidiaries, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements.
Investor Relations, VGTL – info@VGTelinc.com