Company Announces Joint Services Agreement with Top NASCAR and IndyCar Race Team — Clubhouse Media Will Also be Featured on Rick Ware Racing Vehicles in both NASCAR and IndyCar Events
LOS ANGELES, July 20, 2021 (GLOBE NEWSWIRE) — via InvestorWire – Clubhouse Media Group, Inc. (OTCMKTS: CMGR) (“Clubhouse Media” or the “Company”), an influencer-based marketing and media firm with a total aggregate global social media reach of more than 400 million followers, is excited to announce the signing of a Joint Services Agreement (the “Agreement”) with Rick Ware Racing, LLC (“RWR”), one of the world’s most accomplished and recognized racing teams.
“We are excited to partner with Rick Ware Racing for a piece of the 2021 NASCAR Cup Series and the North American IndyCar Series, and we look forward to helping RWR establish lasting traction with a new generation of fans,” commented Chris Young, President of Clubhouse Media. “This agreement is further validation of the value of our social media reach and our unmatched base of talented star influencers. We also look forward to seeing our logo ride shotgun with Formula 1 superstar driver Romain Grosjean as he tears up the IndyCar track.”
The Agreement involves Clubhouse Media, on one side, and FinTekk AP, LLC, a Texas limited liability company (“FinTekk”), and RWR on the other side.
FinTekk and RWR are professional motorsports racing and marketing companies providing services focused specifically on the NASCAR Cup Series, NASCAR Xfinity Series, the IndyCar Racing Series, and the IMSA Sports Car Championship Series. Pursuant to the Agreement, FinTekk and RWR agreed to provide certain services to the Company, and the Company agreed to provide certain services to RWR.
In general, FinTekk will provide the Company with marketing and branding consulting services utilizing the RWR racing platform, and will promote the Company as the primary brand for the NASCAR race events in which RWR participates in conjunction with the RWR platform.
RWR will provide racing car drivers, including F-1/IndyCar superstar Romain Grosjean and IMSA Asia Le Mans champion Cody Ware in IndyCar and NASCAR, as well as NASCAR standout and development team drivers and athletes currently competing in motor racing. RWR will also engage and integrate its social media team with the Company’s team members to collaborate, promote and market Clubhouse Media to the racing fan bases of NASCAR and IndyCar through the use of each other’s social and digital media platforms.
The Company will engage and integrate its social media/influencer member network and production teams with RWR team members to collaborate, promote and market RWR racing efforts and racing and driver story lines through various media platforms operated by or familiar to the Company.
The respective services of the parties under the Agreement will apply with respect to 11 races occurring from July 18 to September 26, 2021.
Young added, “Rick Ware Racing is among the most iconic and established brands in the global billion-dollar motorsports industry. This agreement is a strong step as we begin to actively monetize our global social media footprint, which now exceeds 400 million followers, and we hope to demonstrate the power of that reach by helping RWR establish strong and durable engagement with new markets and communities capable of driving the sport of racing for the coming decade.”
About Clubhouse Media
We believe Clubhouse Media represents the future of influencer media and marketing, with a global network of professionally run content houses, each of which has its own brand, influencer cohort and production capabilities. Clubhouse Media offers management, production and deal-making services to its handpicked influencers, a management division for individual influencer clients, and an investment arm for joint ventures and acquisitions for companies in the social media influencer space. Clubhouse Media’s management team consists of successful entrepreneurs with financial, legal, marketing, and digital content creation expertise.
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FORWARD-LOOKING STATEMENTS: This release contains “forward-looking statements”. Forward-looking statements also may be included in other publicly available documents issued by Clubhouse Media and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management’s current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “would,” “could,” “will” and other words of similar meaning in connection with a discussion of future operating or financial performance.
Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause Clubhouse Media’s actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others such as, but not limited to economic conditions, changes in the laws or regulations, demand for Clubhouse Media’s products and services, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Any forward-looking information provided in this release should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained in this press release.
