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RBEL ENTERTAINMENT, INC. ("RBEL"), a leader in the rapidly emerging industry of utilizing data as asset that can be valued and monetized, announced today the completion of its reverse merger with ML Capital Group, Inc. (OTC:MLCG). The combined publicly traded company has changed its name to Silverback United, Inc. ("Silverback"), and has applied to FINRA to reflect the name change. The Company also applied to change its ticker symbol to "AGBK". Both changes will be effective only upon FINRA approval. In the interim, Silverback will continue to trade under its current ticker symbol, MLCG.
Pursuant to the merger, all of RBEL's outstanding shares of common stock and securities convertible into or exercisable for RBEL's common stock were converted into Silverback common stock. The merger also resulted in the conversion of all outstanding (i) Silverback convertible debt into Silverback common stock; and, (ii) shares of Series B preferred stock into Silverback common stock. Immediately following the completion of the merger:
- There are approximately 311,615,039 shares of Silverback common stock issued and outstanding.
- There are -0- shares of Silverback preferred stock issued and outstanding.
- There are -0- convertible notes of Silverback outstanding.
- The former stockholders of RBEL hold approximately 51.5% of the outstanding shares of common stock of the combined company.
- RBEL is a wholly-owned subsidiary of Silverback.
- The current directors and officers of Silverback will remain in place only until new management is appointed, which is anticipated to occur within the next few weeks.
- All necessary action is being taken to bring Silverback current in its filings with OTC Markets.
"We are excited to complete this merger and become a publicly traded company as we begin to execute on our strategic plan to be the dominant player in the data valuation and monetization marketplace," said Ron Bienvenu, CEO of RBEL and the author of "The Fourth Shock", published in 2009 as one of the first books to explore the asset value potential of data in depth. "We believe our proprietary technology, management team, first to market status, and deal and development pipeline positions us to take the lead in creating significant data-backed asset value and generating recurring revenue through data monetization. We are partnering with companies ranging from Fortune 500 companies to data-rich startups to help them unlock the enormous value of their data to positively impact their balance sheet and income statement. We are at the forefront of an emerging global asset class, and we have the team, expertise and technology to deliver unparalleled financial results. The new data-backed asset class will usher in new financial tools and options for companies, such as borrowing against data to increase overall corporate valuations and the evolution of significant amounts of high margin, recurring revenue streams across the global economy. Silverback and its subsidiaries are uniquely positioned to dominate the industry."
About Silverback United, Inc.:
Silverback United, Inc. (OTC:MLCG) is the leader in the rapidly emerging industry of unlocking and activating the inherent value in treating data as an asset. This new asset class will have a global impact on balance sheets and income statements in the near term and usher in new financial options, leveraging the value of data and increasing overall corporate valuations. As the market continues to evolve, there will be unprecedented opportunities to create significant amounts of high-margin, recurring revenue streams that will result in margin expansion and higher profitability across the economy. Silverback and its subsidiaries are uniquely positioned to dominate the industry.
More information is available at www.silverbackinc.com and info@silverbackinc.com.
Forward-Looking Statements:
This press release contains forward-looking statements that are based on Silverback's management's beliefs and assumptions and on information currently available to management. All statements contained in this release other than statements of historical fact are forward-looking statements, including but not limited to statements regarding the potential benefits of the merger; Silverback's ability to develop and commercialize its proprietary technology for data monetization; Silverback's planned research and development efforts; and, other matters regarding Silverback's business strategies, use of capital, results of operations and financial position, and plans and objectives for future operations. In some cases, you can identify forward-looking statements by the words "may", "will", "could", "would", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "predict", "project", "potential", "continue", "ongoing", or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words.
These statements involve risks, uncertainties, and other factors that may cause actual results, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. These risks, uncertainties, and other factors include, among others, Silverback's ability to achieve the anticipated benefits of the merger; the success, cost and timing of Silverback's product development activities; Silverback's ability to raise additional capital and general economic conditions; Silverback's ability to develop sales and marketing capabilities, whether alone or with potential future collaborators; and, unexpected costs, charges, or expenses. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties.
All forward-looking statements in this press release are based on a combination of facts and factors currently known by Silverback as of the date hereof and its projections of the future, about which it cannot be certain. As a result, the forward-looking statements may not prove to be accurate, and, except as required by applicable law, Silverback undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events, or otherwise. All forward-looking statements are qualified in their entirety by this cautionary statement. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Investor Relations Contact:
Lauren Nelsen
Director of Marketing Communications
985.688.6132
Press Release Service by Newswire.com
Original Source: Rbel Entertainment, Inc. Completes Reverse Merger With ML Capital Group, Inc.
