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EX-99.1 - EXHIBIT 99.1 - Target Group Inc.v452657_ex99-1.htm
8-K - FORM 8-K - Target Group Inc.v452657_8k.htm

 

Exhibit 99.2

 

TORONTO, ON — (Market wire) — 11/04/16 — Chess Supersite Corporation (OTC PINK: CHZP) (the "Company") is pleased to announce they have met all necessary provisions for its $4 million dollar funding commitment.

 

The $4 million dollar funding commitment is being made available through an equity line provided by New York based Blackbridge Capital Growth Fund, LLC. "We are very excited to work alongside Chess Supersite. We believe this is the first of many steps to a long lasting relationship," said David Jacobi, Director of Business Development. The Company is now in the process of filing a registration statement with the U.S. Securities & Exchange Commission ("SEC") in order to register shares for the aforementioned investment.

 

Additionally, Chess Supersite received $ 125,000.00 in the form of a Promissory Note which will help market its new platform.

 

Rubin Schindermann, Chess Supersite Corporation CEO, stated, "We are very pleased to announce that we have met all the provisions necessary for us to move forward with our $4 million funding commitment. This equity line will now afford us the ability to control our destiny by raising capital at our discretion without taking on additional debt once our registration statement goes effective. Additionally, this credit line is structured to produce a much more advantageous cost base allowing investors more support and price stability. We plan on using a portion of this equity line to eventually eliminate all of our convertible debt in order to create greater shareholder value. We will now be focusing our efforts with strategic marketing in order to build brand awareness of our State of the art Playing Zone."

 

Chess Supersite Corporation

www.chesssupersitecorp.com

www.chessstars.com

alexander.starr@gmail.com

 

Forward-Looking Statements Disclaimer: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov.