FORT LEE, N.J., May 22, 2019 /PRNewswire/ -- Jerrick Media Holdings, Inc., (OTCQB: JMDA) (the "Company" or "Jerrick") is pleased to announce that it has signed a letter of intent (the "LOI") dated May 21, 2019 to acquire the assets of e-commerce marketing agency Seller's Choice in a tuck-in acquisition that should fundamentally fortify Jerrick's revenue initiatives.

Seller's Choice, established in 2016 and founded by CEO Jay Goldberg, is an e-commerce digital marketing solution provider based in Fort Lee, NJ. Seller's Choice leverages their platform and professional services to advance the reach of both B2B and B2C product and service brands. Utilizing their integrative next-gen marketing platform, Seller's Choice focuses cohesively in the four key factors of online sellers–sell-through, differentiation, community and compliance–to help e-commerce businesses establish their brand identity and realize profitable and sustainable growth while maximizing customer engagement and retention. The purchase of Seller's Choice with its team of seasoned marketing, e-commerce strategy and sales professionals supporting 100+ customer relationships represents a complementary acquisition for Jerrick, and positions its content studio, Vocal for Brands, for growth through broadening its existing capabilities in sales and marketing resources.

The transaction creates a distinctly new value proposition for Jerrick's flagship product Vocal and Seller's Choice's established and recurring brand relationships. Seller's Choice will benefit from Vocal for Brand's proven branded content and business intelligence methodologies. At the same time, Jerrick can leverage Seller's Choice's established reputation as a premier destination for e-commerce sellers to introduce new capabilities to its expanding network of creators and brands.

"In partnering with Jerrick and aligning our premium service offering with Vocal for Brands, Seller's Choice will further its significant reach, engagement and transactional growth for our valued brand partners and expanding account base," said Seller's Choice CEO Jay Goldberg.

Pursuant to the terms of the Letter, Jerrick will acquire all of Seller's Choice assets in a two-phase transaction, for an aggregate purchase price of $2,000,000 (the "Purchase Price"), to be satisfied through a combination of cash and equity considerations. Jerrick and Seller's Choice expect to enter into a Purchase Agreement to purchase 14% of the assets in early June, for a purchase price of $280,000 in equity, calculated as 933,333 restricted shares of Jerrick Common Stock at a price of $0.30. The remainder of the purchase is expected to take place during the summer of 2019.  

"This agreement represents the culmination of months of work between the talented management team at Seller's Choice and our internal acquisitions group at Jerrick Media Holdings," said Jerrick CEO Jeremy Frommer. "I look forward to keeping our shareholders updated on the execution plan, revenue integration and milestones the Company has outlined."

Additionally, the Company today announced that it will be presenting at the 9th Annual LD Micro Invitational on Tuesday, June 4th at 9:20AM PST/12:20PM EST. Jeremy Frommer, Founder and CEO of Jerrick, will present an overview of the Company's growth strategy and a comprehensive business update. Jerrick will be available during the conference for one-on-one meetings.

About Jerrick
Jerrick is a holding company that develops technology-based solutions. Its flagship product Vocal is a long-form, digital publishing platform focused on supporting content creators by providing them with publishing tools and monetization features that are embedded within digital communities. Vocal is architected to enable targeted marketing of branded content and e-commerce opportunities embedded within long-form content. Vocal's community sites are managed by a dedicated team, whose primary focus is on creating safe communities and identifying monetization opportunities within them.

For more information please review Jerrick's Investor Presentation: https://jerrickmedia.docsend.com/view/6pdcppw

Safe Harbor Statement
This press release may contain certain "forward-looking statements" relating to the business of Jerrick Media Holdings, Inc. and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. These statements include, but may not be limited to, those relating to the Tender Offer, and the transactions expected to be engaged in in connection with the Tender Offer. In addition to the risks and uncertainties noted in this release, there are certain factors that could cause actual results to differ materially from those anticipated by some of the statements made. These include risks associated with the transactions contemplated by the Tender Offer, including but not limited to risks related to the failure to close the transactions contemplated by the Tender Offer, and other risks, uncertainties and other factors described in the Company's quarterly reports on Form 10-Q and annual reports on Form 10-K and in Company's other filings with the U.S. Securities and Exchange Commission (SEC) or in materials incorporated therein by reference. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements to reflect subsequent events or circumstances or actual outcomes. Actual results could vary materially depending on such risks and uncertainties that may affect the Company and its business.

Company Contact:

info@jerrick.media

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SOURCE Jerrick Media Holdings, Inc.