VGTel, Inc. (OTC: VGTL) said that it has signed two separate funding agreements totaling USD2m.
The agreements, each in the amount of USD1m, come as VGTel seeks international expansion and growth through acquisitions and partnerships.
In December, VGTel entered into agreements to finance the digital scanning of a series of 15/70mm films to an 8K digital format. With its production partners and distributor, the films have all been scanned, downscaled to 4K resolution and are presently being offered for 4K or ultra high definition television (UHD TV) broadcast and theatrical distribution. VGTel´s films are currently being presented at international film markets throughout the summer and the company is planning several announcements concerning pending licensing arrangements with OEMs and 4K broadcasters.
With this new investment, VGTel will continue the expansion of its operations as it implements its global growth initiatives in new media and entertainment. The company is in the process of reviewing additional funding offers and is actively seeking additional acquisition opportunities.
VGTel, Inc. is a multi-platform company offering products and support in the entertainment industry and is focused on a strategy of growing and building business units through investments and acquisitions. For further information, go to www.360entertainmentandproductions.com.