Artfest International, Inc. (ARTS.OB) Receives $15M Equity Financing to Expand Asset Base
Fine art and memorabilia company Artfest International Inc. today announced its agreement with AGS Capital Group to secure investment capital of up to $15 million through a Reserve Equity Financing Facility. Per the agreement, New York-based AGS will purchase up to $15 million worth of Artfest’s common stock for cash consideration after Artfest’s Form S-1 filing with the SEC goes into effect. The deal does not prohibit Artfest from raising additional debt or equity financings. The financing will allow Artfest to enhance its companies and broaden its offerings. "I'm extremely excited to have this financial facility available for Artfest. We…