UPDATE - Cardiff International Signs LOI With NMS Capital Group and Prolific Holdings
FORT LAUDERDALE, FL -- (Marketwired) -- 05/23/17 -- Cardiff International, Inc. (OTCQB: CDIF), ("Cardiff"), NMS Capital Group (NMS) and Prolific Media Holdings announced today all parties have signed a Letter of Intent (LOI) agreement under which all parties have formed Red Room Capital a private equity fund focused on investments within the entertainment, media and technology industries.
Red Room Capital (RRC) will provide investors access to marquee high profile movies, TV shows, media distribution and new technology related industries. RRC has assembled a portfolio of projects that meet the requirements set by Cardiff to mitigate investor risk.
"We are pleased to announce the formation of Red Room Capital," stated Alex Cunningham, President/Chief Executive Officer of Cardiff. "We have built a solid foundation of strong, successful businesses and believe we have partnered with reputable established businesses within the entertainment industry. We believe this partnership will add value to our shareholders while diversifying our revenue streams and improve profitability."
Trevor M. Saliba, NMS Capital Chairman/CEO, said, "It's an honor to be working with both Cardiff and Prolific on this exciting opportunity. The formation of Red Room further enables us to participate in the rapidly expanding convergence of technology, media and entertainment. We believe this partnership shall bring opportunities into our purview where we can leverage our other portfolio companies' strengths and services providing cross platform synergies."
"We are thrilled at the strong partnership that has emerged between Prolific, NMS Capital and Cardiff. The formation of Red Room Capital is a terrific next step in the expansion of Prolific's activities in the entertainment industry and we look forward to continuing to drive value for our partners and investor," states RJ Bucaria CEO, Prolific Media Holdings.
About NMS Capital Group, LLC / NMS Equity Partners, LLC, (www.nmsequity.com) is a leading global focused investment firm with investments in businesses across multiple asset classes ranging from private equity, real estate, financial services and alternative asset management. The firm operates in four business segments, Private Equity Group, Venture Investment Group, Real Estate and Capital Markets.
About Prolific Media Holdings, (www.prolificmedia.co) is an all-in-one solution for discerning brands in Media and Entertainment. From Fortune 100s to disruptive Startups, we provide blue chip services to banner clients across the globe. With operations ranging from Augmented Reality and Immersive Entertainment to Studio Film Co-financing, Music and Event Production, Prolific's key differentiator is its Proprietary Transmedia Eco-system.
ABOUT CARDIFF: Cardiff International, Inc. is a public holding company, much like a cooperative, leveraging proven management in private companies that become subsidiaries under the Cardiff umbrella. Our focus is not industry or geographic-specific, but rather on proven management, market, and margin. Cardiff targets acquisitions of mature, high growth, niche companies. Cardiff's strategy identifies and empowers select income-producing middle market private businesses, technology companies and commercial real estate properties. Cardiff provides these companies both 1) the enhanced ability to raise money for operations or expansion, and 2) an equity exit and liquidity strategy for the owner, heirs, and/or Investors. For investors, Cardiff provides a diversified lower risk to protect and safely enhance their investment by continually adding assets and holdings. Cardiff is led by strong and talented roster of executives and advisors providing expert acquisition, market guidance and added value for subsidiaries and investors.
FORWARD LOOKING STATEMENT: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. These risks include the failure to meet schedule or performance requirements of the Company's contracts, the Company's liquidity position, the Company's ability to obtain new contracts, the emergence of competitors with greater financial resources, and the impact of competitive pricing. In the light of these uncertainties the forward-looking events referred to in this release might not occur.
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Source: Cardiff International, Inc.
Released May 23, 2017