Crush Mobile's Highly Experienced Management Team to Join NCAP
SCOTTSDALE, AZ / ACCESSWIRE / May 8, 2017 / Northsight Capital Inc. ("NCAP") (OTC PINK: NCAP) has signed a non-binding memorandum of terms to acquire Crush Mobile Apps, LLC (www.CrushMobileApps.com), in an all-stock transaction. Crush Mobile, with approximately one million members, has developed a group of dating sites with a presence in the Latino, Israeli and African American communities. Crush will also be incorporating Northsight's "Joint Lovers" dating app, which concentrates on the Cannabis space, into its dating applications suite.
There are an estimated 50 million people in the U.S. that have tried online dating. The online dating industry generates total combined revenues of an estimated $1.7 billion. Crush Mobile has one of the leading dating apps targeting the Jewish, Latino and African American communities, giving millennials an efficient way to form meaningful relationships. Crush's targeted apps have among the most advanced chat features of all dating apps on the market. Crush Mobile's white label technology allows for seamless and customizable replication into a wide community of specific apps with built-in monetization, which presents new opportunities for both users and advertisers.
Crush's management team has previously developed several well-known and successful social media sites, and has vast experience in startup growth, mobile software, lead generation, and brand and marketing expertise. This combined knowledge and experience should facilitate advancing NCAP's media platform to revenues and profitability. Upon the closing, the Crush Mobile management team will take over day-to-day operations of NCAP, with the Crush Mobile current CEO, Sonya Kreizman, taking over as NCAP's interim CEO.
Consummation of the acquisition transaction is subject to a variety of conditions, including NCAP raising $500,000 prior to closing, due diligence investigation by both parties, obtaining all necessary corporate approvals, and the negotiation and execution of definitive agreements. Accordingly, there can be no assurance that this transaction will be consummated.
Subject to the foregoing conditions, the closing is expected to occur around June 1, 2017.
"We are thrilled to be joining such a great partner. Crush Mobile brands' technology and management team together with NCAP's significant media platform will help create a unique entity, well-positioned to benefit from increased resources and improved financial strength. Together, we can leverage the strengths of each company to scale, grow and provide an exceptional user experience."
John Venners, NCAP Director, stated: "Northsight has been seeking an experienced management team and partner to take our leading-edge media platform to the next level. Crush Mobile provides strong management, a robust technology platform and a large community of users, all of which should enable the combined company to build a compelling media, branding and advertising platform in the cannabis space. This combination should be a win-win."
About Crush Mobile Apps
Crush Mobile revolutionizes the way millennials connect for long-term dating by uniting them based on demographics. Crush Mobile helps singles find love through demographically targeted apps for iPhone and Android for specific audiences such as Jewish, Latino and African American. Crush's white label technology allows for easy replication into a wide range of niche apps that help users of a similar background find, chat and meet with their Crushes. By having an umbrella and demographically targeted platforms, Crush generates higher retention and user value while still capturing the overall market size. Crush's targeted apps with built-in monetization present new opportunities for both users and advertisers.
About Northsight Capital, Inc.
Northsight Capital, Inc. ("NCAP") is comprised of a portfolio of online marijuana-related websites that are being developed and operated by the company. These sites incorporate many aspects of the marijuana industry. The company provides its audience with a means to stay informed on the industry's most cutting-edge marijuana-related innovations and legislation. The company's most dynamic concept, Weed Depot, provides consumers with a geo-targeted map directory of medical and recreational dispensaries, head shops, doctors, attorneys and more within the marijuana industry. The Weed Depot app can be downloaded for free at the iTunes Store and Google Play. Weed Depot has an entire platform of content suited for every aspect of advertising and marketing to consumers from all businesses in the cannabis industry.
The company's 420 careers is a leading job site in the Cannabis space with 3,000 to 5,000 visitors a day and approximately 1 million page views per month.
Various statements in this release, including those that express a belief, expectation or intention, may be considered "forward-looking statements" that involve risks and uncertainties that could cause actual results to differ materially from projected results. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. The forward-looking statements may include projections and estimates concerning the timing and success of specific projects or transactions. Forward-looking statements may also include projections and estimates concerning our future operating results and financial condition. When we use the words "will," "believe," "intend," "expect," "may," "should," "anticipate," "could," "estimate," "plan," "predict," "project," or their negatives, or other similar expressions, the statements which include those words are usually forward-looking statements. When we describe strategy that involves risks or uncertainties, we are making forward-looking statements. The forward-looking statements in this press release speak only as of the date of this press release; we disclaim any obligation to update these statements. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control.
