Withdraws plans for reverse split
MIAMI, Aug. 09, 2022 (GLOBE NEWSWIRE) -- Touchpoint Group Holdings, Inc. (TGHI), a media and digital technology holding company, today provided the following shareholder update from the Company's CEO, Mark White.
Mr. White stated, "We continue to make significant progress advancing our next generation fan engagement platform. Specifically, we are now working with numerous fitness brands, celebrities and influencers. The customer response has been overwhelmingly positive, as our platform is specifically designed to bring fans closer to celebrities by providing access to proprietary content, livestream events, as well as exclusive merchandise. To further enhance the platform and add new revenue streams, we are working towards integrating new blockchain machine learning capabilities designed for intuitive analytic feedback, thereby allowing for the creation of highly optimized content strategies both inside the Touchpoint platform and on social media."
"Building on our core expertise in fan engagement, we announced last year our acquisition of Air Race World Championship (Air Race), a race format developed by Red Bull as the Red Bull Air Race. Since that time, we have been successful in signing multiple host-city agreements. However, given the prolonged impact and travel restrictions associated with the pandemic in addition to global financial market conditions, we made the strategic decision to postpone these events into early 2023, when we believe we can maximize the success and financial impact of these events."
"Overall, we could not be more excited about the outlook for the business. For this reason, and based on feedback from investors, the Board of Directors made the strategic decision to forgo plans for a reverse split. While our goal remains to list on a senior U.S. stock exchange, we are also exploring a variety of strategic alternatives to maximize value for shareholders. Meanwhile, we remain focused on both advancing plans to launch Air Race in the new year, as well as accelerating the growth of our core Touchpoint fan engagement platform."
About Touchpoint Group Holdings.
Touchpoint Group Holdings Inc. is a media and digital technology acquisition and software company. For more information, see
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This news release may contain "forward-looking" statements. These forward-looking statements are only predictions and are subject to certain risks, uncertainties and assumptions that could cause actual results to differ from those in the forward looking-statements. Potential risks include such factors as the inability to enter into agreements with parties with whom we are in discussions, the uncertainty of consumer demand for the Company's products, as well as additional risks and uncertainties that are identified and described in the Company's SEC reports. Actual results may differ materially from the forward-looking statements in this press release. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company does not undertake, and it specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.
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