Meyer Ventures LLC is a venture capital firm affiliated with Ocean Road
Advisors, Inc., an investment management company that directs the investment
and related management activities of several leading
In connection with its investment in the Company, RJSM will be entitled to appoint two directors, one of which will be a nominee of Meyer Ventures LLC.
As previously announced by the Company, the new funds will be primarily used for working capital and the continued expansion of the Company's lifestyle sports entertainment offerings in professional beach volleyball.
"We are excited to add Meyer Ventures LLC as a co-investor in this
transaction. They are very strategic to AVP, and we look forward to their
ongoing involvement with the Company," said
"We are delighted that
Additional details on the transaction will be provided in an upcoming Form 8-K filing with the Securities and Exchange Commission.
About AVP, Inc.
AVP, Inc. is a leading lifestyle sports entertainment company focused on
the production, marketing and distribution of professional beach volleyball
events worldwide. One of the fastest growing entities in the sports world, the
AVP operates two of the industry's most prominent national outdoor touring
series, the AVP Pro Beach Volleyball Tour (1983) and the AVP Hot Winter Nights
Indoor Tour (launched in 2008). The AVP is set to stage more than 35 events
throughout
Forward Looking Statements
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of the Company. We wish to caution you that these statements involve risks and uncertainties and actual results might differ materially from those in the forward-looking statements, if we receive less sponsorship and advertising revenue than anticipated, or if attendance is adversely affected by unfavorable weather. Event-related expenses, such as for the stadium, transportation and accommodations, or security might be greater than expected; or marketing or administrative costs might be increased by our hiring, not currently planned, of a particularly qualified prospect. Additional factors have been detailed in the Company's filings with the Securities and Exchange Commission, including our recent filings on Forms 10- KSB and 10-QSB.
SOURCE AVP, Inc.