Benzinga | May 28, 2021 01:03PM EDT

Vinco Ventures Offers Update On Lomotif, ZASH Global Media

Vinco Ventures Leverages Joint Venture to Pursue Lomotif Acquisition in Advance of ZASH Global Media and Entertainment Merger

Bethlehem, PA, May 28, 2021 (GLOBE NEWSWIRE) -- Vinco Ventures, Inc. (NASDAQ:BBIG) a leader in selective acquisitions leveraging new market opportunities by utilizing the B.I.G. Strategy: Buy. Innovate. Grow. today announced an update to the ZASH Global Media and Entertainment (ZASH) merger and Lomotif acquisition. The following updates have been provided.

* Vinco and ZASH intend to acquire Lomotif Private Limited ("Lomotif") through their joint venture, ZVV Media Partners, LLC (the "Joint Venture");

* The parties have completed an Amended and Restated Limited Liability Company Agreement for the Joint Venture in preparation for the anticipated acquisition of Lomotif through the Joint Venture;

* Gemini Valuation Services will complete and present to Vinco an independent third-party valuation on ZASH on or before June 11, 2021;

* The parties intend to sign a final Agreement and Plan of Merger and Reorganization on or before June 24, 2021; and

* Subject to regulatory and exchange approvals. the parties intend to issue a formal proxy to the Vinco shareholders for the approval of the ZASH merger with Vinco on or before July 15, 2021.