NEW YORK, NY – Palladium Capital Advisors, LLC is pleased to announce it has secured $1.5 million in financing for iHookup Social, Inc. (the “Company”), providing the Company with necessary funds to execute its 12 month growth plan. The Company has received the first tranche of $750,000 and the second tranche will be received upon the achievement of certain performance criteria.
“We are pleased to announce that after months of negotiation iHookup Social has obtained the necessary funds to launch into the Friendable era,” stated Robert Rositano Jr., CEO, iHookup Social. “The Friendable era means many things to our existing and new users of our app, as well as presenting new and exciting opportunity for our shareholders. The launch of our Friendable brand expands our audience potential and opens up the opportunity for our users to decide, why and when they are Friendable, as well as what they are Friendable for. This financing comes on the heels of our consolidation of previous debt, through our relationship with Coventry Enterprises, who has also invested over $1 million into our vision to assist us in reducing the number of sellers impacting our stock price. We now have long term investors with Coventry and our latest partner Alpha Capital, a major hedge fund with interests in the technology sector.”
“Many OTC listed public companies fail simply because of the lack of capital needed to sustain operations and grow their business,” added Rositano. “At last, I believe we have the capital to take our investors and the hundreds of thousands of users of our app into the Friendable era and into the spotlight of the Silicon Valley mobile app frenzy.”
To review our most recent “iHookup 2.0” shareholder letter visit:http://finance.yahoo.com/news/introducing-ihookup-social-2-0-130000341.html
iHookup is entering the friendable era.” http://www.friendable.com
Full details on financing and milestones are available via the Company’s 8k athttp://biz.yahoo.com/e/150811/hkup8-k.html
About iHookup Social:
iHookup Social is a mobile – social app positioned at the intersection of location based connections, love and adventure, stimulating hyper – local opportunities for our user community as well as the venues and merchants competing for their business.
The company seeks to redefine the way people connect, find love or embark on an adventure. iHookup Social is where real people make real connections and businesses pay to be their host. The by-product of our business model inherently produces “hyper-local” advertising opportunities for the company, driving customers to local venues and / or businesses. The laws of attraction or making a new connection have shifted, with the traditional meaning of “being social” or “meeting up”, now taking a backseat to meeting online or through a mobile device and apps.
Making connections through online or mobile devices has become a dominant part of today’s mobile-social lifestyle, across various social circles, age groups, race, gender and demographics. iHookup Social takes the virtual connection and moves it toward a real-life interaction, facilitating connections and offering-up locally relevant hot spots and locations to meet up with these new connections, allowing iHookup Social to become both matchmaker and concierge. This combination provides a unique opportunity for consumer brands to offer incentives to a growing network of socially active mobile users on a hyper-local basis.
Cautionary Language Concerning Forward-Looking Statements
This press release contains forward-looking statements. The words or phrases “would be,” “will allow,” “intends to,” “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimate,” “project,” or similar expressions are intended to identify “forward-looking statements.” Actual results could differ materially from those projected by iHookup Social, Inc. The iTunes rankings should not be construed as an indication in any way whatsoever of the future value of the iHookup Social’s common stock or its present or future financial condition. The public filings of iHookup Social made with the Securities and Exchange Commission may be accessed at the SEC’s Edgar system at www.sec.gov. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. iHookup Social cautions readers not to place reliance on such statements. Unless otherwise required by applicable law, iHookup Social does not undertake, and iHookup Social specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.