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CST: 20/05/2019 10:40:43   

SoOUm Corp Secures $600,000 in Non-Brokered Private Placement

19 Days ago

NEW YORK, May 01, 2019 (GLOBE NEWSWIRE) -- SoOum Corp (OTCPINK: SOUM), a Physical Commodities Arbitrage Trading and e-Commerce Company, announces it secured a $600,000 direct investment in the form of a private placement, sold to a high net-worth and accredited investor from Fort Worth, Texas, USA.

Today, May 1, 2018, the first tranche of $300,000 is scheduled to close. The following two tranches of $150,000 each, are expected to close May 15, 2019, and June 15, 2019, consecutively, totaling $600,000 in gross proceeds.

The working capital from the proceeds of the private placement expects to bolster operations, further enhance the company's international trade platform - sooum.com, fund research and development efforts for new ways to diversify the company's business model. Moreover, the capital allows SoOum Corp to expand its reach further into Europe. 

The company already operates a subsidiary called SoOum Malta Ltd, on the Island of Malta in the Mediterranean Sea, and plans to expand its reach into Europe and surrounding regions.

The capital formation from the private placement validates the Company’s mission and provides a testament of SoOum Management’s commitment to move away from expensive and dilutive capital. Management continues to work in finding more opportunities to bring in cheaper and less dilutive capital formation strategies.

For more information regarding this press release, please contact SoOum Corp Investor relations - investors@sooum.com

About SoOum

SoOum Corp, (SOUM:OTCPINK) an international trading firm, conducts its own in-house, arbitrage and order based transactions of physical commodities, and offers an international trade platform called - SoOum.com - The platform automatically discovers price discrepancies of any given physical commodity in different regions, allowing anyone to easily build a transaction and facilitate trade.   The platform provides and aids the professional Arbitrage trader, Importer, Exporter and other international traders to enhance their business by creating a central interface to conduct and negotiate trade in real time. The Company’s Website traffic increased over 400% in the recent months.

For more information regarding this press release, please contact SoOum Corp Investor relations - investors@sooum.com

Cautionary Note Regarding Forward-Looking Statements in this press release regarding the Company’s business which are not historical facts are “forward-looking statements” that involve some risks and uncertainties.  The Company cautions that various factors, including the factors described under the caption forward-looking statements in the Company’s annual report on Form 10-K, could cause actual results to differ materially from the statements contained herein. These factors include the following:  business conditions and volatility in the commodities market, and the general economy; competitive factors including compressed gross profit margins; shifts in market demand; product availability; reliance on key customers; fluctuations in foreign currency exchange rates; income tax legislation; and the risk factors listed from time to time in the Company’s reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.

Steve Messina
646-801-3772
investors@sooum.com

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