Las Vegas, Nevada December 6, 2021 – CABO VERDE CAPITAL INC. ( OTC:CAPV ) (the “Company”) is pleased to announce that further to its news release of November 29, 2021, it has executed the final Definitive Agreement (the “Agreement”) to acquire VYRE Network (https://vyrenetwork.com) (“VYRE”), a free streaming platform with worldwide reach through apps on Apple TV, Roku, Amazon Fire Stick, Android, iPhone, Samsung TV’s and the web. Focused on Generations X, Y and Z, VYRE Network sets out to become the most relevant content streaming company for those of all ages, backgrounds, and interests.
The Company has acquired the entire VYRE Network entity which includes, but not limited to, all content, Vyre Network channels, VYRE Live, VYRE Studios & Productions, VYRE’s Intellectual Property, all streaming licenses, any proprietary technology currently in use, and all existing contracts. The Company will issue 286,208,000 restricted common shares of the Company in exchange for the outstanding shares of VYRE Network.
With the execution of the Definitive Agreement, the Company will immediately apply for a name and symbol change to reflect the VYRE Network name.
Also with the execution of the Definitive Agreement, the Company’s Board of Directors has appointed David Hill as Director, President, CEO, and Chairman of the Board of the Company, and Lamar Seay as Director and Chief Operating Officer. Concurrently with these changes, the Company has accepted John Duggan’s resignation as President and Chairman. He will remain as an Independent Director and Chairman of the Audit Committee.
As compensation for its exclusive M&A Advisory services in connection with this transaction, as well as its ongoing business development consulting work, Twilight Capital Inc. will be issued 35 million Series A Convertible Preferred Shares of the Company.
ABOUT VYRE NETWORK
VYRE Network is a free streaming platform with worldwide reach through apps on Apple TV, Roku, Amazon Fire Stick, Android, iPhone, Samsung TV’s and on the web. Focused on Generations X, Y and Z, VYRE Network sets out to become the most relevant content streaming company for those of all ages, backgrounds, and interests.
VYRE Network has three Operational Divisions -Distribution, Live Stream, and Studios & Productions. Currently, there is a selection of 18 channels, including Sports (football, boxing & documentaries), Music (Hip-Hop, R&B, Pop & EDM), Lifestyle (Cooking & Travel), Family, and Comedy. Vasool TV(Hindi) and It’s Español TV (Spanish) are VYRE’s international-based channels, with Vyre Africa, Vyre Asia, and Vyre Brazil launching shortly.
For Further Information Contact:
Cabo Verde Capital, Inc.
818-579-2864
www.caboverdecap.com
Forward Looking Statements – This release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21Eof the Securities Exchange Act of 1934. Such statements include any that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words “estimate”, “project”, “intend”, “forecast”, “anticipate”, “plan”, “planning”, “expect”, “believe”, “likely”, “should”, “could”, “would”, “may” or similar words or expressions. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company’s actual results and financial position to differ materially from those in such statements, which involve risks and uncertainties, including those relating to the Company’s ability to grow. Actual results may differ materially from those predicted and any reported should not be considered an indication of future performance. Potential risks and uncertainties include the Company’s operating history and resources, together with all usual and common economic, competitive, and equity market conditions / risks.
