MelodyVR, a leading music company, announced an investment of £6.48 million by Nice & Green to support the development of its new disruptive app
MelodyVR Group PLC (AIM:MVR), a leading music company and operator of the MelodyVR and Napster platforms, who recently announced its intention to change its name to Napster Group PLC is pleased to announce additional investment of £6.48 million by way of issue and subscription of Convertible Loan Notes.
The proceeds of the Loan Notes will support the development and launch of the new integrated mobile app which will combine the best content and functionality from both the Napster and MelodyVR businesses to create a new music platform during the course of 2021.
Anthony Matchett, Group CEO:
“We are delighted to announce this convertible funding which will support the development of our new Napster music service throughout the course of 2021, whilst remaining in the best interest of shareholders due to the principal terms of the agreement. We are pleased to welcome Nice & Green as strategic investors into our company and look forward to working together more closely.”
Marc Cattelani, Founder and CEO of Nice & Green:
“Following its recent acquisition of Napster, MelodyVR will pioneer the next-generation of music service and offer the first ever music entertainment platform combining immersive visual content and music streaming. As an early fan of Napster back to the turn of the millennium, I am delighted that 20 years later Nice & Green can contribute to the revival of this iconic brand and services beside Melody VR’s incredibly talented team.”
About MelodyVR
MelodyVR launched in 2018 with a simple mandate: not to replace the live music experience, but to harness the power of virtual reality to get people closer to the music they love.
More information on www.melodyvr.com.
About Nice & Green
Nice & Green SA is an independent Swiss Proprietary Equity Investment and Alternative Financing company who helps micro and small-sized listed companies to secure funding needed for their growth. Nice & Green is owned and managed by two principals and capitalizes on establishing long term financial partnership with the companies it assists. More information on www.nicengreen.ch.
Contact Information
Adela Korselt
CFO
akorselt@nicengreen.ch
+41 22 361 37 95