Altavoz Entertainment (OTC: AVOZ) this morning announced that it has inked a memorandum of understanding (“MOU”) with Nurish.Me, LLC regarding a merger of the companies. Per the terms of the merger, Altavoz will issue preferred shares to the holders of Nurish.Me’s interests. Following the conclusion of the merger, Altavoz’s current business, including its debt, will be spun out to become a private entity owned and controlled by the company’s founder, Nelson Jacobsen. The company anticipates the merger will significantly improve its balance sheet and capitalization table. In accordance with the restructuring, the Altavoz Entertainment board and CEO have resigned and have been substituted with interim management.
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About Altavoz Entertainment
Altavoz Entertainment ensures artists and labels have access to a unique array of traditional and out-of-the box distribution channels and are creatively promoted so they can build their presence, make their mark, and earn a living – all with a social conscience. Altavoz has also pioneered the development of Distribution as a Service (“DaaS”) for other distributors. For more information, visit the company’s website at www.Altavoz.com.
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