LOS ANGELES, CA--(NewMediaWire - Feb 28, 2017) - Gawk,
Inc., (OTC
PINK: GAWK) a cloud-based infrastructure-as-a-service
company, today announced that it has signed an equity purchase
agreement (EPA) with GHS Investments, LLC, an institutional
investor. The capital will create significant growth capital for
GAWK, enabling the execution of its business plan, on favorable
terms.
Under terms of the agreement, GAWK has the right, but not the
obligation to sell, up to $7 million of its common stock to GHS, in
an amount that the Company determines. Scott Kettle, CEO of GAWK,
Inc., said, "We intend to use this new infusion of cash from GHS to
implement our business plan of acquiring strategic businesses
within the cloud communications sector."
Kettle further stated "This move is important because it has
resulted in a significant improvement of the terms under which we
can access capital on an as needed and when needed basis." The
Company intends to use the capital for acquisition - as it has
previously disclosed, the Company is "operating cash flow positive"
and therefore will focus on using any new capital for strategic
growth.
GHS has also participated in the recently announced
restructuring of the convertible securities.
Additionally, the Company would like to mention that it has
achieved many of the goals that it has set out for 2017, and looks
forward to setting, communicating, and achieving, additional goals
over the course of the year.
For investor inquiries please call (888) 754-6190 Ext. 3 or
email IR@gawk.com
For more information about GAWK's OTC Markets publicly traded
shares click here.
About GHS Investments
LLC
GHS Investments, LLC, is a leading private investment and
management group providing financing solutions for high potential
small cap enterprises.
About GAWK,
Inc.
GAWK, Inc., (OTC
PINK: GAWK) offers a suite of cloud communications, cloud
connectivity, cloud computing, and managed cloud-based applications
solutions to small, medium, and large businesses; and offers
domestic and international voice services to communications
carriers worldwide. It offers a suite of advanced data center and
cloud-based services, including fault tolerant, high availability
cloud servers, which comprise platform as a service, infrastructure
as a service, and a content delivery network; managed network
services that converge voice and data applications, structured
cabling, wireless, and security services, as well as include
Internet access via Ethernet or fiber at speeds ranging from 10
Mbps to 10 Gbps; and data center solutions, including cloud
services, colocation services, and business continuity services,
such as storage and security. www.gawk.com
Forward-Looking
Statements
All statements in this release that are not strictly historical
facts are "forward-looking statements." Such forward-looking
statements are based on GAWK's current assumptions, beliefs and
expectations, and involve risks, uncertainties and other factors
that may cause GAWK's actual results to be materially different
from any results expressed or implied by such forward-looking
statements. Some can be identified by the use of words such as
"expect," "plan," "possibility," "offer," "if," "negotiate,"
"when," "believe," "will," "estimate," "continue," and similar
expressions. Risks, uncertainties, and other factors that could
cause or contribute to such differences include, but are not
limited to: ongoing and future intellectual property enforcement
actions; the ability to successfully litigate or settle claims of
patent infringement; GAWK's ability to obtain necessary financing,
generate sufficient cash flow, and maintain appropriate
indebtedness; and the increasing development of market competition
in the area of telecommunications. These factors and others are
described in more detail in GAWK's public filings with the
Securities and Exchange Commission, including the risks discussed
in the "Risk Factors" section in GAWK's Annual Report on Form 10-K
and Quarterly Reports on Form 10-Q. Copies of these reports can be
found on GAWK's website (www.gawk.com) under the heading "Investor
Relations." GAWK is providing this information as of the date of
this release and, except as required by law, does not undertake any
obligation to update any forward-looking statements contained
herein as a result of new information, future events or
otherwise.
