BOCA RATON, FL / ACCESSWIRE / December 21, 2016 / Bright Mountain Media, Inc. (www.brightmountainmedia.com) (OTCQB: BMTM)
("Bright Mountain" or the "Company"), a digital media holding company for online assets primarily targeted to the military and
public safety sectors, today is pleased to announce that on December 16, 2016, with an effective date of December 15, 2016 and
pursuant to the terms of the Asset Purchase Agreement by and among Bright Mountain Media, Inc., its subsidiary Bright Mountain,
LLC, Sostre Enterprises, Inc., Pedro Sostre III and James Love (the "Asset Purchase Agreement"), the Company completed the
acquisition of assets from Sostre Enterprises, Inc.'s related to the Black Helmet® apparel division, which includes various website
properties and content, social media content, inventory, and other intellectual property rights.
Launched in June 2008, Black Helmet® is a brand that embodies Firefighter culture and principles: Courage, Dedication,
Sacrifice, and Tradition. Founded by third-generation firefighter James Love and Internet business and marketing expert Pedro
Sostre, Black Helmet® clothing and accessories feature designs that are hand drawn, unique, and relay the fearless side of
firefighting. Since launch, Black Helmet® has sold over 365,000 t-shirts, hats, and accessories, has 75,000 average monthly
visitors to its website, and over 400,000 Facebook followers.
Under the terms of the Asset Purchase Agreement, Bright Mountain acquired the assets constituting the Black Helmet® brand for an
aggregate purchase price of (i) $250,000 in cash, (ii) 200,000 shares of Bright Mountain Media's common stock, (iii) the
forgiveness of $200,000 in working capital advances to the seller, and (iv) the assumption of $40,000 in liabilities.
In connection with the acquisition, and to ensure the continuity of the operations, effective December 15, 2016, Mr. Sostre and
Mr. Love have been retained under as independent contractors for a period of three years.
To view the associated Form 8-K filed, please visit the Securities and Exchange Commission website at www.sec.gov.
About Bright Mountain Media
Bright Mountain Media, Inc. (BMTM) is an owner, acquirer, and manager of customized websites for military and public safety
audiences. We are dedicated to providing "those that keep us safe" places to go online where they can do everything from stay
current on news and events affecting them, to look for jobs, share information, communicate with the public, and more. For more
information, please visit us at https://www.brightmountainmedia.com/.
Safe Harbor Statement
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects,"
"potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements
involve known and unknown risks, uncertainties, and other factors that may cause actual results to be materially different from any
future results or implied by such statements. Bright Mountain Media, Inc.'s future results may also be impacted by other risk
factors listed from time-to-time in its SEC filings. Many factors are difficult to predict accurately and are generally beyond the
company's control. Forward-looking statements speak only as to the date they are made and Bright Mountain Media, Inc. does not
undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking
statements are made.
Investor Relations:
Howard Gostfrand info@amcapventures.com 305.918.7000
SOURCE: Bright Mountain Media, Inc.
