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Next Group Holdings Announces Agreement with Four Convertible Note Holders To Buy-Out Financial Instruments and Support Shareholder Value
Next Group Holdings Announces Agreement with Four Convertible Note Holders To Buy-Out Financial Instruments and Support Shareholder Value.
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[{"type":"text","content":"\n\n\n\nNext Group Holdings Announces Agreement with Four Convertible Note Holders To Buy-Out Financial Instruments and Support Shareholder Value\n\n\n\n\n\nNext Group Holdings Announces Agreement with Four Convertible Note Holders To Buy-Out Financial Instruments and Support Shareholder Value\nPR Newswire\nMIAMI, July 29, 2016\n\n\n\nMIAMI, July 29, 2016 /PRNewswire/ --\n\nNext Group Holdings, Inc. (OTCQB: NXGH) (the \"Company\") today announces that it has signed definitive Agreements with 4 separate Finance Groups that hold an aggregated value of $713,250.00 in Convertible Notes.\n\nNXGH has reached agreements with Cerberus Finance Group, Ltd., LG Capital Funding, LLC, Mountain Ranch partners, Inc. and Quorum Holdings, LLC to buy back the remaining Convertible Notes.\n\nThe Note amounts are: $131,250 for Cerberus Finance Group, Ltd., $357,000 for LG Capital Funding, LLC, $100,000 for Mountain Ranch partners, Inc. and $125,000 for Quorum Holdings, LLC.\n\n\"Next Group Holdings, Inc. has reached a certain level of success and now we believe that we need to take control of our finances and show support to our shareholders,\" said Arik Maimon, NXGH's Chairman and CEO.  \"This repurchase of financial instruments will avoid the possibility of these note being converted to shares at abnormally high rates due to the current value of NXGH on the OTCQB exchange.\", added Maimon.\n\n\"These financial groups have been instrumental in supporting Next Group Holdings, Inc. through its development and we are truly grateful for their support\" said Michael De Prado NXGH's President & COO. \"We have faith in the future of NXGH and we want to show our shareholders that we are willing and able to stand up for our future.\" added De Prado.\n\nAbout Us: NXGH is a corporation headquartered in Miami, Florida, which, through its operating subsidiaries, engages in the business of using proprietary technology and certain licensed technology to provide innovative mobile banking, mobility, and telecommunications solutions to underserved, unbanked, and emerging markets. NXGH's principal executive offices are located at 1111 Brickell Avenue, Suite 2200, Miami, Florida 33131, and its telephone number at that location is (800) 611-3622. NXGH's web address is http://www.nextgroupholdings.com.\n\nTHIS NEWS RELEASE CONTAINS \"FORWARD-LOOKING STATE...