SCOTTSDALE, Ariz., March 24, 2014 /PRNewswire/ — Northsight Capital, Inc., (NCAP OTCBB) announced that its $500,000 maximum offering was oversubscribed by approximately $85,000, closing out at approximately $585,000. In response to higher than expected demand for the offered securities, the Company’s board of directors authorized this increase in the maximum offering amount. The completion of this capital raising transaction satisfies the funding condition for completion of the Company’s purchase of 7,000 marijuana/hemp/cannabis related domains. The consummation of the acquisition remains subject to board approval and execution of definitive agreements.
The company anticipates raising an additional $1 to $1.5 million for its advertising budget during the second half of 2014.
Following completion of the acquisition transaction, the Company plans to build an advertising site for the industry as well as to rent out certain domains to companies in the industry that cannot afford to purchase them.
The Company is also seeking top management from the Internet advertising/social media space. Applicants must currently be employed in a senior position at a major company focusing on marketing and advertising.
All inquiries and resumes should be sent to firstname.lastname@example.org, where they will be reviewed by only one individual, and be kept highly confidential.
About Northsight Capital, Inc.:
Northsight Capital, Inc. is currently a shell company within the meaning of applicable securities laws, and has been seeking out merger and acquisition candidates. The company recently executed a LOI with respect to its planned acquisition of approximately 7,000 marijuana/cannabis/hemp domains. The acquisition is subject to satisfaction of a number of conditions, including but not limited to execution of definitive agreements and completion of a capital raise by the company in the amount of at least $500,000.
Various statements in this release, including those that express a belief, expectation or intention, may be considered “forward-looking statements” that involve risks and uncertainties that could cause actual results to differ materially from projected results. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. The forward-looking statements may include projections and estimates concerning the timing and success of specific projects or transactions. Forward-looking statements may also include projections and estimates concerning our future operating results and financial condition. When we use the words “will,” “believe,” “intend,” “expect,” “may,” “should,” “anticipate,” “could,” “estimate,” “plan,” “predict,” “project,” or their negatives, or other similar expressions, the statements which include those words are usually forward-looking statements. When we describe strategy that involves risks or uncertainties, we are making forward-looking statements. The forward-looking statements in this press release speak only as of the date of this press release; we disclaim any obligation to update these statements. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control.