Today before the opening bell, Consorteum Holdings announced the execution of a Strategic Partnership Agreement with KO Entertainment, a Nevada corporation focused on the distribution of quality entertainment and media products. Consorteum has agreed to purchase a five percent (5%) ownership interest in KO Entertainment as well as assist with the evaluation of business expansion initiatives and various strategic relationships.
As outlined by the agreement, Consorteum will also make available a limited line of credit for acquisitions to grow the business and accelerate brand awareness. KO Entertainment will sign a separate agreement providing for the repayment of funds advanced pursuant to the line of credit. Through a revenue sharing agreement, Consorteum will receive a percentage of revenue generated from each business KO Entertainment acquires with the Company’s help.
“Consorteum is continually looking for ways to expand its presence in the market and to diversify its product offerings,” Craig Fielding, Consorteum’s CEO, stated. “Our partnership agreement with Knockout Gaming announced earlier this year was a first step in enabling Consorteum to put in place cross marketing channel opportunities in the online and mobile gaming verticals. KO Entertainment provides valuable brand awareness expansion opportunities from which both Knockout and Consorteum will benefit.”
For more information, visit www.consorteum.com
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