NEW YORK, NY / ACCESSWIRE / February 16, 2024 / Livento Group, Inc. (OTC PINK:NUGN) a leading innovator in diversified business ventures, reaffirms its commitment to strengthening its Robotics and AI division, positioning itself for a transformative phase of growth and technological advancement today announced that it has entered into a purchase agreement (the "Agreement") with Alumni Capital for up to $500,000.
Strategic Focus on Robotics and AI: Building on its visionary approach, Livento Group is intensifying its focus on advancing its Robotics and AI division. The company recognizes the immense potential of these technologies in shaping the future landscape of various industries and is dedicated to reinforcing its position as a pioneer in the field.
Identification of Revenue-Generating Targets: Livento Group has successfully identified several companies with robust revenue streams that align seamlessly with its strategic vision. The company is currently engaged in non-binding discussions with these entities, exploring opportunities for collaboration and potential acquisitions.
Multiplying Value for Shareholders: Livento Group is strategically deploying the proceeds from the financing secured through Alumni Capital to drive new acquisitions. This forward-looking approach aims to multiply value for shareholders by expanding the company's portfolio and fortifying its position as an industry leader in the rapidly evolving landscape of Robotics and AI.
Under the terms and conditions of the Agreement, Livento Group has the flexibility, but not the obligation, to sell to Alumni Capital up to $500,000 of its shares of common stock, until December 31, 2025, subject to certain limitations. Any shares of common stock that is sold to the investor will occur at a purchase price that is determined in part by prevailing market prices at the time of each sale.
The terms and conditions of the Agreement allow Livento Group to sell shares at 90% of the volume-weighted average price (VWAP), meaning at a 10% discount of the calculated VWAP. Additionally, Alumni Capital will receive 50% of the invested amount in warrants, based on a $15 million valuation.
This strategic financial partnership underscores Livento Group's ongoing commitment to innovation, growth, and enhancing shareholder value through prudent and strategic capital management. The foregoing summary of the Agreement is incomplete, and further details relating to the Agreement, including additional terms and conditions, and this transaction will be contained in the Current Report on Form 8-K the Company intends to file with the Securities & Exchange Commission later today.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful before the registration or qualification under the securities laws of any such jurisdiction.
As Livento Group continues to make strides in its commitment to innovation and growth, the company anticipates an exciting chapter marked by strategic acquisitions, technological advancements, and enhanced value creation for its esteemed shareholders.
About Livento Group
Livento Group (OTC Pink:NUGN) is focused on acquiring and developing companies with disruptive business models. The company recently launched BOXO Productions, a film and television production subsidiary led by a top actor and producers in the industry. For more information, visit www.liventogroup.com and www.boxoproductions.com.
Safe Harbor Statement:
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements as predictions, projections, or references to future events and expectations, possibilities, or similar. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. Although the Company believes the expectations reflected in our forward-looking statements are based on reasonable assumptions, the Company is unable to give any assurance that its expectations will be attained due to several variable factors. Factors or events that could cause actual results to differ may emerge, and it is impossible for the Company to predict all of them. Some of these risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, in customer order patterns, changes in consumer trends, and various other factors beyond the Company's control. Although the Company intends to provide public updates, it undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
For more information, please contact:
David Stybr
Chief Executive Officer, Livento Group, Inc.
PR & Media Contact
+1(929)379-3564
ir@liventogroup.com
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SOURCE: Livento Group, Inc.
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