Bravo Multinational signs LOI to acquire Streaming TVEE assets

On December 20, 2023, Bravo Multinational entered a Letter of Intent to acquire certain assets of Streaming TVEE. The purchase price for the assets is $9,760,000, consisting of a convertible promissory note in the amount of $7,760,000 and an assumption of $2,000,000 in STV debt. The promissory note is convertible into the common stock of BRVO based on the December 11, 2023, closing price of BRVO common stock as traded or the OTC Market which is $0.15625. The LOI is subject to normal terms of an agreement of that nature. This transaction, if consummated, will serve as a business foundation for the Company’s planned development of a streaming service called TVee NOW. The assets to be acquired will provide BRVO with the technology and music library streaming rights to offer content such as linear TV, often referred to as traditional broadcast TV, as well as an array of on-demand content, including but not limited to, movies, series, shows, concerts, comedy specials, events and more – all at no cost to its viewers. The parties have agreed to continue to move forward with the transaction by the preparation of a definitive agreement upon the completion of customary due diligence procedures.