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SUNRISE, Fla., Aug. 22, 2019 (GLOBE NEWSWIRE) -- Beta Music Group Inc. (OTC PINK: BEMG), through its operating subsidiary Get Credit Healthy, Inc., a fin-tech company that has developed a novel platform and technology which simultaneously maximizes business opportunities for national lending partners while also providing consumers with needed resources to improve their financial well-being, announces that it has signed a Memorandum of Understanding (“MOU”) for a Long Term Strategic Partnership Agreement with Stony Lonesome Group, LLC. Stony Lonesome Group is a boutique merchant bank that makes seed stage venture capital investments and is an early visionary pioneer and thought leader in the Military Veteran Entrepreneurship sector.
The MOU foresees collaboration between the two companies that would create an avenue through which Get Credit Healthy could market its services to military veterans and veteran-owned small businesses that would benefit from Get Credit Healthy’s programs.
As of September 2018, there are 18.2 million veterans in the United States, according to the most recent statistics from the US Census.More than nine million veterans are served each year by the Department of Veterans Affairs. Health care facilities are made up of 1,062 outpatient sites and 172 VA Medical Centers. The mission would be to offer military veterans and their families the tools and resources necessary to improve their credit profile to create a healthier financial life via utilization of Get Credit Healthy’s network of credit resources. The Parties would collaborate on marketing the combined benefits of their technology, software solutions, counseling expertise, and management services. The parties have agreed to negotiate in good faith towards execution of a definitive agreement on or before August 31st, 2019.
Sean Drake, the managing partner and founder of Stony Lonesome Group, serves as the Chief Investment Officer for the Stony Lonesome Capital family of funds. His primary areas of expertise are in Defense & Security as well as in Financial Services & Alternative Investment companies. Mr. Drake served five years as an Infantry Officer in the United States Army, attaining the rank of Captain. Mr. Drake commented, "Providing access to the services of a firm like Get Credit Health is fundamental to empowering Veteran Entrepreneurs with the ability to optimize their credit scores in order to access credit and loan facilities that will allow them to launch the next generation of iconic Veteran led firms like Nike, FedEx, Wal-Mart, and USAA."
The Honorable Patrick J. Murphy is a General Partner of Stony Lonesome Capital II and Stony Lonesome Capital III venture capital funds. Mr. Murphy is an army veteran who served with distinction as a paratrooper in Iraq as a member of the 82nd Airborne Division. Captain Murphy was also a professor of Constitutional Law at the U.S. Military Academy at West Point. From 2007-2011, and served as the first Iraq War Veteran elected to the U.S. Congress.
Elizabeth Karwowski, CEO of BEMG subsidiary Get Credit Healthy, Inc. stated "We are thrilled to sign this MOU with Stony Lonesome Group. A partnership with SLG to offer our technology and credit counseling will enable us to more easily reach and assist America’s heroes, their families’ and the veteran community. We are very excited about the opportunity to be included as a strategic partner in the SLG consolidated portfolio.”
BEMG, through its operating subsidiary Get Credit Healthy (www.getcredithealthy.com), utilizes its proprietary processes, platform, and software to integrate with lenders to make it easier to recapture leads. Developed for and by those with extensive experience in the mortgage industry, Get Credit Healthy's platform has already facilitated millions of dollars in new loan opportunities for its partners. Get Credit Healthy is working to increase its network of partners and is looking forward to a very promising future. Please visit the company website at www.betamusicgroup.net; twitter at www.twitter.com/bemg12 and financial information at www.otcmarkets.com/stock/BEMG/profile.
ABOUT STONY LONESOME GROUP LLC
Stony Lonesome Group is a boutique merchant bank that focuses on early stage seed capital investing encompassing Stony Lonesome Advisors and the Stony Lonesome Capital funds. Founded in 2011, Stony Lonesome Group is a pioneer in the Vetrepreneurship ecosystem with a strong commitment to investing in Veteran founded and Service Disabled Veteran led companies. Stony Lonesome Group is currently investing out of Stony Lonesome Capital II LP- Military Medicine, Healthcare and Veteran Care and Stony Lonesome Capital III LP- Cybersecurity and Big Data. For more information, please see www.stonylonesomegroupllc.com
Safe Harbor Statement
This press release contains projections and other forward-looking statements regarding future events or our future financial performance. All statements other than present and historical facts and conditions contained in this release, including any statements regarding our future results of operations and financial positions, business strategy, plans and our objectives for future operations, are forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). These statements are only predictions and reflect our current beliefs and expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time. We operate in a very competitive and rapidly changing environment. New risks emerge from time to time. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. Actual events or results may differ materially from those contained in the projections or forward-looking statements. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995.
For information, please contact:
Dan Oran, CEO
Beta Music Group, Inc.
8411 West Oakland Park Blvd. Suite 201
Sunrise, FL 33351
(877)850-3444 Ex 7
Beta Music Group Inc.