LiveOne Signs LOI to Launch LiveOneAfrica with Virtuosity Music Group and UK Structured Finance

LiveOne Inc. (NASDAQ:LVO) is one of the best long term penny stocks with huge upside potential. On October 20, LiveOne announced that it had signed a Letter of Intent/LOI to launch a new subsidiary, called LiveOneAfrica. The new venture is a collaboration with Virtuosity Music Group, which is an international music and entertainment company with deep ties to African and global artists.

The primary goal is to expand LiveOne’s footprint into the rapidly growing African music and entertainment market. To support the expansion into Africa and Europe, the partnership involves UK Structured Finance Ltd. The funding is outlined to support LiveOne’s initiatives for the buildout of digital infrastructure, establishing artist partnerships, and creating localized live and on-demand streaming content.

UK Structured Finance Ltd. is recognized for providing innovative financial solutions and has successfully structured and raised hundreds of millions of dollars across multiple sectors. It lends institutional confidence to the potential of LiveOneAfrica.

LiveOne Inc. (NASDAQ:LVO) is a digital media company that acquires, distributes, and monetizes live music events, Internet radio, podcasting/vodcasting, music-related membership, and streaming & video content. The company has three segments: PodcastOne, Slacker, and Media Group.

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Disclosure: None. This article is originally published at Insider Monkey.