VANCOUVER, BC, Sept. 30, 2021 /CNW/ – Network Media Group Inc. (TSXV: NTE) (OTCMKTS: NMGGF) and Network Entertainment Inc. (“Network” or the “Company“) is pleased to announce the appointment of Tom Lombardi as Strategic Advisor for Network’s NFT research and development, effective October 1, 2021.

“We are excited to announce the addition of Tom Lombardi to the Network team,” said Derik Murray, Founder and CEO of Network. “Tom has profound knowledge, experience, and expertise in digital assets and blockchain technology, after exclusively focusing on this sector for the past six years. Appointing Tom as Strategic Advisor will enable Network to focus on monetization of our intellectual property on what is shaping up as a new, fast-paced, content platform within a high-growth marketplace. We are honoured to have Tom join our team and look forward to collaborating on this exciting and complementary content initiative for the Company.”

Tom Lombardi has over two decades of experience in investment banking, principal investing, and emerging technologies, most recently focused on bitcoin and NFTs. Tom was most recently a Managing Director at 3iQ, responsible for overseeing marketing strategy and execution of a $2 billion digital asset firm invested in bitcoin and Ether. He was formerly a Director with Wave Financial, leading the digital asset investment team in Los Angeles. Tom was also the Head of Growth for the Enterprise Ethereum Alliance (EEA), working with global companies on how to embrace blockchain technology. Prior to the EEA, Tom was the CEO of a travel ecommerce platform, leading a 23-person team to $100m of gross revenue. Tom received an MBA from Pepperdine and started his career as an investment banking analyst with Bank of America. In addition to his professional accomplishments in the field, Tom is also an adjunct professor at Pepperdine University, teaching Digital Asset Finance to MBA students.

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“NFTs allow content creators to monetize their content, as this revolutionary technology enables them to engage directly with audiences, incentivize devoted followers, and involve communities in the creative process,” stated Tom Lombardi. “Network is uniquely positioned to develop NFT campaigns alongside, and independent from, their original content productions, working with top talent, high-quality production values, and global distribution channels.”

Tom is an avid student of securities laws and financial regulations, and recently passed his Series 63, 65, SIE securities exams in the U.S. and the CSC exam in Canada. Tom’s expanding collection of NFTs includes a CryptoPunk, a 2017 “Day 1” MoonCat, Loot (for Adventurers) gaming items, and a Pudgy Penguin in a tuxedo.

Private Placement

Network announces a non-brokered private placement of up to 8,000,000 Common Shares of the Company (the “Shares”) at a price of $0.15 per share, for gross proceeds of $1,200,000 (the “Offering”).

In connection with the Offering, the Company may pay finder’s fees in cash or securities, or a combination of both, as permitted by the policies of the TSX Venture Exchange (the “Exchange”). Network intends to use the net proceeds of the Offering primarily for ancillary business opportunities, operations, research and development of NFT content initiatives, and working capital requirements.

The securities issued under the Offering will be subject to a statutory hold period, expiring four months and one day from the date of issuance of such securities. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the final approval of the Exchange and the applicable securities regulatory authorities.

Network also announces today that it has granted incentive stock options to its Directors, Officers, employees, and consultants for the right to purchase an aggregate of 3,735,000 Common Shares of the Company. These options are exercisable at a price of $.15 per share for a term of five (5) years. The terms of the options granted are in accordance with the Company’s Fixed Share Option Plan as approved by its shareholders on October 10, 2019. The option grants are subject to TSX Venture Exchange approval.

About Network Entertainment

Network Media Group is the parent company of Network Entertainment Inc.

Network Entertainment is a creatively driven, boutique film and television production company that creates, finances, and produces award-winning programming for television, digital platforms, and movie audiences around the world. The Network premium brand of content delivers world-class casts and features visually cinematic, richly crafted storytelling. The Company’s productions are consistently embraced by both audiences and critics alike, garnering awards, record ratings and unparalleled media coverage for Network and its partners.

The Company’s most recent productions include PUNK, a four-part series for EPIX with executive producers John Varvatos and Iggy Pop, the feature documentaries I Am Richard Pryor, which premiered at the 2019 SXSW Film Festival, and I Am Patrick Swayze, which premiered at the 2019 San Antonio Film Festival, winning the Festival Grand Prize, and The Age of A.I., a YouTube Originals series hosted and executive produced by Robert Downey Jr.

Among the Company’s many accolades, Network was named to the Realscreen Global 100 List, an annual compilation of the best global production companies working in the non-fiction and unscripted visual content industry. Network’s work has also been recognized by the Academy Awards, the Emmys, Realscreen Awards, Gemini Awards, Leo Awards, the Los Angeles Film Festival, AFI Docs Film Festival (Silverdocs), San Antonio Film Festival, Seattle International Film Festival, Tribeca Film Festival, SXSW Film Festival, Hawaii International Film Festival, Houston International Film Festival, Vancouver International Film Festival, Banff Television Festival, and the International Film and Television Festival of New York.

Network’s broadcast and distribution partners include A&E, AHC, AMC, AppleTV+, Discovery Channel, CBC, CMT, Crave, CTV, Entertainment One, EPIX, Fremantle, HBO Canada, History Channel, iTunes, Lionsgate, National Geographic, NBC Peacock, Paramount Network, Sky, Sundance TV, Thunderbird, TMN, Virgil Entertainment, and YouTube Originals.

Network’s offices, production and post production facilities are located in Vancouver and Los Angeles, and the company is represented by ICM Partners.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement on Forward-looking Information
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. These statements are necessarily based upon management’s perceptions, beliefs, assumptions and expectations, as well as a number of specific factors and assumptions that, while considered reasonable by management of the Company as of the date of such statements are inherently subject to significant uncertainties and contingencies that could result in the forward-looking information ultimately, perhaps materially, being incorrect. All forward-looking information in this news release involve known and unknown risks, uncertainties and other factors that are beyond the control of the Company and may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof.

For additional information on Network Entertainment Inc., visit www.networkentertainment.ca

SOURCE Network Entertainment Inc.

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