2225 E. Murray Holladay Road
SLC, UT 84121
PRESS RELEASE
CACHE CAPITAL ANNOUNCES ACQUISITION OF PURE CUSTOM VENTURES, A MOBILE SPORTS BROADCAST COMPANY
SLC, UT (Jan 31st, 2017)-Cache Capital Corp. (OTC Ticker symbol: CCCC) a Utah corporation, announced the acquisition of Pure Custom Ventures, LLC (PCV), a Utah limited liability company, in exchange for the issuance of 15,280,000 shares of restricted common stock. The shares issued will represent 80% of the issued and outstanding shares of Cache Capital, with PCV becoming a wholly owned subsidiary of Cache.
In connection with the transaction, PCV issued $650,000 of secured debt, of which $490,000 was used to pay down existing debt and liabilities, with the balance to be used for general working capital.
Pure Custom Ventures is a leading provider of sports broadcast “support” trucks, trailers and associated services. Founded in 2010 by Todd Marshall and Daren Wright, PCV owns and operates five “support” trucks serving and fulfilling contracts with ESPN and NBC Universal’s The Golf Channel in the U.S. and Canada.
PCV seeks to combine its highly experienced management team, its existing contracts and sports network contacts, as well as its new publicly traded status in an effort to fund, build and operate a fleet of mobile HD (Hi-Def) broadcast “production” trucks dedicated to live sports production.
“Mobile sports broadcasting is a multi-billion dollar industry experiencing rapid growth, consolidation and even faster technological change. Having been on the ground operating in that industry for the past 25 years, I believe we will be well positioned to capitalize on these trends,” said Todd Marshall, President and co-founder.
“We have spent the last six years building our business, building relationships and fulfilling our contracts with premier network partners, which we will continue to do with excellence. The time is right for us to leverage these relationships and expand our operations into mobile HD production work,” said Daren Wright, co-founder and CEO.
“I believe PCV has the existing operations, an outstanding level of operating and network experience, as well as the right idea at the right time. With potential access to public capital through our acquisition today, I also believe we will achieve our goal of becoming a premier provider of regional sports broadcast services,” said Tyler Rainey, Chief Investment Officer.
Financial information about PCV will be filed on the OTC Markets website by the end of March, 2017. Information with regard to future operations, business plans and Company officer bios will be sent to existing shareholders, and posted on the OTC Markets site within 45 days.
As a result of this transaction, Kent Rainey and Vicki Rainey resigned from their positions as officers and directors of the Company. Tyler Rainey will remain with the Company in the roles of Chief Investment Officer, Secretary/Director. Todd Marshall and Daren Wright of PVC will assume the roles of Directors and President and CEO, respectively.
Forward-looking Statement:
This release contains forward-looking statements, which are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release. These risks and uncertainties could cause the company’s actual results to differ materially from those indicated in the forward-looking statements.
For Immediate Release
For additional information contact:
Tyler Rainey
Phone: 801 274 3638
Email: Trainey31@yahoo.com