B2Digital, Incorporated (OTC PINK: BTDG) announced that it has signed an agreement to acquire Hard Rock Promotions LLC, the owner of Hard Rock MMA in Kentucky.
The acquisition will become effective following the completion of B2Digital's reverse stock split that was previously announced on June 21, 2017.
With this announcement, B2Digital intends to accelerate Phase 2 of its path to developing the Minor League for the MMA marketplace. Phase 1 of building the B2Digital brand in the MMA industry will continue through sponsorships of more MMA fights, which exposed the B2Digital brand and B2Digital-sponsored Social Media platforms to over 350,000 fans Since February 2017.
Pursuant to the terms of the acquisition agreement, B2Digital will acquire 100% of the equity interest in Hard Rock Promotions LLC for $49,000 in cash and $100,000 of restricted common stock in B2Digital. The acquisition is expected to close following completion of the reverse stock split and other customary closing conditions.
"It is exciting for B2Digital to begin its quest in developing an MMA Minor league with the acquisition of a great MMA company like Hard Rock MMA, which has produced over 89 events, with a currently planned schedule of 14 LIVE Events through the end of 2018. The Hard Rock Events will form the nucleus of fighters to fight in the upcoming B2 Fighting Series Events. The management of Hard Rock MMA has done an amazing job in Kentucky operating Hard Rock MMA and I am quite pleased that the current management will stay in place to operate the Hard Rock MMA group for B2Digital," said Greg P. Bell, Chairman & CEO of B2Digital.
"We have worked alongside and spent a lot of time with Mr. Bell and are looking forward to continuing that relationship with B2 Digital and developing the B2 Digital Fighting Series to enhance and provide future capabilities for MMA fighters within Hard Rock MMA and the B2 Fighting Series Program," said Brandon and Vanessa Higdon, the owners of Hard Rock MMA.
About B2Digital, Incorporated
B2Digital, Incorporated is a full service Live Event Sports Company. Since its restructuring in early 2017, the company has been led by a management team with over 30 years of global experience developing more than 20 companies in the Sports, Television, Entertainment, Digital Distribution and Banking Transaction industries. As part of its growth strategy, B2Digital intends to continue to develop and acquire assets meeting its business model with the goal of becoming a Premier Vertically Integrated LIVE Event Sports Company.
B2Digital is currently building an integrated LIVE Event Minor League for the MMA Mixed Martial Arts marketplace, through the creation and development of Minor League champions expected to graduate to MMA Major Leagues from the B2 Fighting Series. The company intends to continue to sponsor and operate LIVE Events, acquire existing MMA Promotions, and invite those champions to the B2 Fighting Series Regional and National Championship Series. Throughout this process, B2Digital expects to own all media and merchandising rights, as well as the digital distribution networks for the B2 Fighting Series.
B2Digital's future plans beyond its initial growth strategy include the addition of Sports, Leagues, Tournaments and Special Events to its LIVE Event content. The company hopes to capitalize on its technology and business model to broaden the revenue base of the Live Events core business.
B2Digital also expects to develop and expand its B2 LIVE Event Systems and Technologies. These include Systems for Event Management, Digital Ticketing Sales, Digital Video Distribution, Digital Marketing, PPV (Pay per View), Fighter Management, Merchandise Sales, Brand Management and Financial Control Systems.
B2Digital: The LIVE Event Sports Company.