Business
Vita Mobile Systems Secures $5 Million Financing to Support Rapid Growth and OTCQB Uplisting
Vita Mobile Systems Secures $5 Million Financing to Support Rapid Growth and OTCQB Uplisting.
About this update from Vita Mobile Systems, Inc.
[{"type":"text","content":"\nIRVINE, CA, Nov. 27, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Vita Mobile Systems, Inc. (OTC PINK: VMSI), a technology company specializing in big data via digital imaging on mobile devices, announced the Company has signed an investment agreement for up to $5 Million in equity financing from Tangiers Global, LLC (‘Tangiers’).  Tangiers is a San Diego-based financial firm that provides working and expansion funding to small and microcap public companies. \n “We are excited to partner with Tangiers Global for the next step in our funding needs. Tangiers has a solid reputation for working with companies like ours to provide the financing needed to grow to the next level.  We are initially using part of the funds to complete the steps necessary to become fully reporting and uplist to the OTCQB, so Vita Mobile Systems can provide both transparency and confidence for our current shareholders, as well as new shareholders and investors,” stated Sean Guerrero, CEO of Vita Mobile Systems, Inc. “Our audit is currently underway and once completed, we plan to use only a portion of the $5 million financing to update our market intelligence platform and foundational technologies within our evolving VITA app, as recommended by our new technology advisor.” Aaron Raub, Senior Equity Analyst for Tangiers Global, LLC, commented on the announcement, “Tangiers is always excited to partner up with innovating and emerging technology companies with the potential to be disruptive within the industries that they operate in.  Vita Mobile Systems’ geolocation-based social media app is changing the way crowdsourced digital content is used for creating applications for both big data and targeted advertising.  Sean and his team of technology advisors are quickly ramping up operations and we are confident that our investment will boost their market intelligence platform and help the launch of the VITA app become a rousing success.” Over the summer, Vita Mobile Systems met with senior executives and specialists in the Advertising Technology (‘Ad Tech’) industry to select a new member for the Company’s Advisory Team. Ad Tech is a quickly growing industry that encompasses the services, tools, software and data analyzation that helps companies target, d...