BRK Announces USD$2M Strategic Relationship With Intrepid Management Along With Update – June 17, 2020
Henderson, NV, June 17, 2020 /PRNewswire/ BRK, Inc. (the ”Company”) (OTC:BRKK) wishes to inform its shareholders that it has entered into a long-term strategic financing relationship with Intrepid Management. This development is the culmination of previously disclosed successful collaboration on eliminating onerous debt from BRK´s capital structure and the injection of equity capital aimed at driving the commercial exploitation of Intellectual Property (IP) assets and burgeoning strategic commercial relationships.
Mr. Michael Kovacocy, Head of Corporate Development and IR, stated: “Our relationship with Intrepid will protect shareholders by ensuring that long-term, ongoing financing will be available on shareholder value accretive terms, which will lower operational risks and will help drive stable growth into our targeted operational markets.”
The relationship with Intrepid entails financing not to exceed USD$2m over a 24-month period. In consideration, BRK will grant Intrepid 45,000 shares of restricted stock, with a 12-month no-sale provision. Furthermore, Intrepid will be issued warrants valid for 1-year for a further 10,000 shares at a strike price of $30.
Mr. Alexander Jones, President of Intrepid Management and CEO of Guardian Wealth, stated: “We launched Intrepid Management Inc. last year to both support early stage pre-revenue companies and to unlock hidden value in established firms. As an entrepreneur at heart, I have a keen passion to see innovation and unique ideas become a reality. The vision of an ecosystem of digital multimedia technology, IP and content creation fits lock step with Intrepid’s long term investment strategy. It is my belief that BRK will form the initial cornerstone of a successful investment portfolio that will benefit many entrepreneurs and managers unlocking substantial value for shareholders and society alike.”
Mr. Daniel Serruya, CEO of BRK Inc added: “We are pleased to welcome Intrepid Management into our growing group of long-term investors and partners. Our future looks very promising as we aim to target previously emerging opportunities in live-streaming and digital entertainment transmission, that have now been brought to the forefront by the global pandemic. It is our belief that BRK is well positioned to play a prominent role in the emerging intersection of professional sports and digital media, whether it be traditional sports, extreme sports, or e-sports, and to also provide consumers with impressive perspectives and enhanced customer engagement. This has become particularly relevant, especially in a world where many sports need to offset lost or diminished gate revenues.”
Finally, in accordance with our policy of transparency to shareholders, management would like to clarify two points of interest expressed by our loyal shareholder base. Mr. Michael Kovacocy, Head of Corporate Development and IR further stated: “First, regarding our recently filed litigation, we will not be updating nor publishing any information until judgements or significant further progress from the litigation arise. This is due to our company policy to abide by conservatism and best practices. Interested shareholders can contact management at firstname.lastname@example.org for specific directional information on our original filing. Second, management has created a summary of our extensive IP portfolio, which will be posted at www.brkincorporated.com . We thank our shareholders for their continued support and look forward to continuing to deliver to their expectations.”
BRK Inc. (OTC PINK: BRKK), established in 2008, is owner of the Helmet Camera intellectual property (patents-pending) that make the RefCam possible. With the acquisition of the live broadcast helmet camera patent, BRK is poised to enter sports marketing in a big way. iSee Sports Inc. is a wholly owned subsidiary of BRK, Inc.
The foregoing contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are intended to be covered by the safe harbor provisions of the federal securities laws. Forward-looking statements often contain words such as “will,” “anticipate,” “believe,” “plan,” “estimate,” “expect,” “intend,” “is targeting,” “may,” “should,” ”poised,” and other similar words or expressions. Forward-looking statements are made based upon management’s current expectations and beliefs and are not guarantees of future performance. Our actual business, financial condition or results of operations may differ materially from those suggested by forward-looking statements as a result of risks and uncertainties which include, among others, those described in any of our other filings with the SEC. In addition, such statements could be affected by risks and uncertainties related to: (i) commercialization of our newly-acquired helmet camera, (ii) continuing development and protection of our intellectual property, (iii) unexpected industry competition, (iv) the need to raise capital to meet business requirements, and (v) our ability to sell our products in order to generate revenues. Forward-Looking Statements are pertinent only as of the date on which they are made, and the company undertakes no obligation to update or revise any Forward-Looking Statements, whether as a result of new information, future developments or otherwise. Any future public statements or disclosures modifying any of the forward-looking statements contained in or accompanying this news release, will be deemed to supersede such statements in this news release. Information on BRK Inc.’s website, http://www.brkincorporated.com does not constitute a part of this release.