Business
Exxe Diversifies into Asian Markets, Film Festivals, and Foreign Content Distribution Rights
Exxe Diversifies into Asian Markets, Film Festivals, and Foreign Content Distribution Rights.
About this update from Exxe Group Inc.
[{"type":"text","content":"\nNEW YORK, March 12, 2019 (GLOBE NEWSWIRE) -- Exxe Group, Inc (OTC: AXXA), a diversified company focused on synergistic acquisitions in real estate, fintech, Artificial Intelligence, media and financial services, is pleased to announce the implementation of the letter of intent to acquire control of Festivals and Live Events Holding company (“Film Festivals”,“FFH”) with the main wholly owned subsidiary China Mainland Film Festival Company, the marketer and operator of one of mainland China’s largest and most important government-approved film festivals, the European Union Film Festival in China. This acquisition is a part of Exxe Group’s expansion strategy and enables operations in Hong Kong & mainland China under the necessary banner of official cooperation between the European Union and the Chinese government.\n Transaction Details FFH currently valued at $5,000,000 USD. Under an aggressive business plan that aims to expand into new territories in Mainland China, Asia and internationally, this highly scalable asset has the potential to achieve a projected growth of 7-10 multiples over 3-5 years. The acquisition has a 3 year structured payout schedule conditional upon meeting specific milestones that Exxe has contractually agreed to with Film Festivals company.  Adding the Film Festivals asset to Exxe’s portfolio of holdings adds a new dimension to Exxe’s market reach into live events and content distribution markets. It also opens doors to work with celebrities and the High Net Worth community in Asia. The Exxe/FFH deal closing is expected upon completion of due diligence within 10 days. Value Added Film Festivals brings significant value to Exxe’s portfolio by adding new sector specific events within an Asia market hub, access to Asia’s high net worth market sector, recognition of Exxe Group on an official government level and the ability to build relations  in Asia and Europe in the arts that historically have a potential of  converting into infrastructure projects coupled with potential preferential treatment and government concessions. Exxe is already involved in negotiations in the number of international projects that include government relations which in turn gives the Exxe/Film Festivals partnership an official status and recognit...