Clubhouse Media Group, Inc. Announces Additional Reduction In Company Debt

Clubhouse Media Group, Inc., an influencer-based social media firm and digital talent management agency, announced that it has reduced its outstanding debt by approximately $350 thousand. Clubhouse Media’s outstanding debt to noteholders remains approximately $4.75 million (not including accrued interest), following the reduction.

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“This agreement is the second of its kind that we’ve managed to secure in the month of December alone,” said Scott Hoey, Chief Financial Officer of Clubhouse Media.  “Similar conversations are ongoing with other note holders.  We plan to continue down this path toward eliminating a majority of our outstanding debt.  We believe that this will assist the company in strengthening its balance sheet and setting Clubhouse Media up for long-term success.”

Clubhouse Media offers and deal-making services, a management division for brands and individual influencer clients, and an investment arm for joint ventures and acquisitions for companies in the social media influencer space.

SOURCE: PR Newswire