Global Entertainment Holdings Nears Completion of Financing for You've Got the Part!
GBHL Receives $6 Million in Shares of Publicly Traded Securities for Use as Collateral.
Los Angeles, CA, August 15, 2017 (Newswire.com) - Global Entertainment Holdings, Inc. (OTC: GBHL), is pleased to announce that the Company is finalizing completion of its financing for the development of “You’ve Got The Part” and the marketing of the mobile App and related web portal during the fourth quarter of 2017. “You've Got The Part” is a new social media platform that will allow anyone, anywhere and at any time, the opportunity to be selected for a role in a real Hollywood movie or TV program via the Internet using their SmartPhone or web cam.
Stemming from its financing commitment announced last May, the Company has just received a stock certificate in its name representing approximately 3.4 million common shares of Airborne Wireless Network, Inc. (symbol “ABWN”), a well-traded, public reporting company. The Airborne shares have a current market value of approximately $6 million, which the Company intends to use as collateral to obtain non-dilutive financing.
The financing commitment agreement signed last February 2017 with a third party investor allows the Company to use this stock as collateral to obtain initial financing of $1 million for its operations, including but not limited to funding the development, launch and marketing of the “You’ve Got The Part” web portal and mobile Apps.
Gary Rasmussen, CEO of GBHL, commented "We are thrilled that after several years of nursing along our "You've Got The Part" project we have been able to secure non-dilutive financing that will complete and launch "You've Got The Part".
Gary Rasmussen, CEO of GBHL, commented “We are thrilled that after several years of nursing along our “You’ve Got The Part” project we have been able to secure non-dilutive financing that will complete and launch “You’ve Got The Part”. With the heightened interest in new Hollywood movies and TV content, we are convinced that our launch of “You’ve Got The Part” will be met with great success. For a small subscription fee, anyone across the country will be able to audition online for selected movie and TV projects and, if chosen by a community of their peers in various social media sites, will be able to achieve their dream of being in a real Hollywood movie or TV show. In addition, the producers of this content will gain immediate online and social media awareness and publicity for their project. It’s a ‘win-win’ for everyone!”
About Global Entertainment Holdings, Inc. (OTC: GBHL) is a publicly-held, entertainment company. The Company’s goal is to build a worldwide entertainment organization with a multitude of domestic and foreign production and distribution affiliates. GBHL, operating through its wholly owned subsidiaries, Global Universal Film Group and Global Entertainment Film Fund, is in the process of developing and producing a slate of motion pictures, employing recognizable-named talent, for worldwide release. GBHL is focused on the development and financing of these feature-length films. GBHL, through another wholly owned subsidiary, You’ve Got The Part, Inc. (www.YGTP.net), will attempt to capitalize on the current popularity of Hollywood, social media and reality-based programming by casting online small walk-on roles in a feature film that anyone with a smartphone or digital camera can apply for.
For more information, please visit us at: WWW.GLOBAL-GBHL.COM, or contact the Company by email at: email@example.com.
Safe Harbor: Pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, and within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Exchange Act of 1934, any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals and assumptions of future events or performance are not statements of historical fact and may be "forward-looking statements." Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this release may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," or statements indicating certain actions such as "may," "could," or "might" occur. Such statements reflect the current views of GBHL and its affiliated companies with respect to future events and are subject to certain assumptions, including those described in this release. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance and commercial appeal of its feature-length films, its film production services, competitive market conditions in the motion picture industry (both in the US and foreign markets), successful sale of the rights to film content produced, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. Neither Global Entertainment Holdings, nor its affiliates or subsidiary companies, undertakes any responsibility to update the "forward-looking" statements contained in this news release.
Source: Global Entertainment Holdings