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Digital Arts Media Network, Inc. Share Reduction Program Kicks Off with Elimination of 18M Shares

NEW YORK, July 20, 2017 (GLOBE NEWSWIRE) -- Digital Arts Media Network, Inc. (DATI), a specialized tech accelerator leveraging the Public Accelerator-Incubator (PAI) model, has elected to retire 18,526,879 Shares of its common stock, bringing the current outstanding down to approximately 105M shares as part of an effort to build shareholder confidence and substantiate value through a Share Reduction Program.

“The goal is to reduce the outstanding share count by an additional 60M to 80M shares,” said Ajene Watson, Chairman and CEO of Digital Arts Media Network, Inc. (the “Company”). “We believe an aggressive share reduction will bring our cap table in line with anticipated valuations derived from our Angels+ and Invest+ Programs.”

The Company is working with its largest shareholder, AJENE WATSON, LLC – principally owned by the Company’s CEO – to reduce its holdings by more than 70%. The reduction will occur as the Company achieves various milestones; such as the ramp-up of its Angels+ and Invest+ Programs and the acquisition of executive talent.

Mr. Watson continued, “Most of the outstanding shares will be reduced in direct correlation to the aggressive ramp up of the Angels+ and Invest+ Programs in an effort to strengthen intrinsic value and avoid dilution to the shareholders. These programs will quickly build the Company’s portfolio of start-ups, whose value could potentially increase exponentially with each subsequent round of capital raised. This was demonstrated with our previous OpenVision Labs investment.”

OpenVision Labs (“OVL”) received a capital investment from the Company at a $2M valuation during the Company’s development and initial test of its business...