SAO PAULO, April 1, 2013 /PRNewswire/ -- NatureWell Incorporated d/b/a Brazil Interactive Media, Inc. (OTCQB: NAWL) today announced that it completed a $250,000 financing with Dutchess Opportunity Fund II LP and Dutchess Global Strategies Fund LLC. For more information on the financing, please refer to the Company's current report on Form 8-K filed with the U.S. Securities and Exchange Commission on March 28, 2013. As outlined in the recent Agreement and Plan of Merger, the Company is currently seeking to change its name from NatureWell Incorporated to Brazil Interactive Media, Inc.
Dutchess Capital Managing Partner, Michael Novielli stated, "We are pleased to have assisted Brazil Interactive Media with its near-term capital needs. The Company's current growth rate, its scalable business model and a growing market in Brazil, make this an exciting investment opportunity. We're looking forward to the Company's progress."
Brazil Interactive Media CEO,
Tim Psomiadis stated, "We welcome this investment from Dutchess and will utilize proceeds from the offering for the purchase of additional airtime to expand our programming hours and customer base, as we aim to achieve our objectives for the year." He added, "The balance of the proceeds will be used to address administrative costs and public company related expenditures."
About Brazil Interactive Media, Inc. Brazil Interactive Media, Inc., is a U.S. holding company and the parent of Brazil Interactive Media Participacoes Ltda., which through its wholly-owned subsidiary EsoTV Ltda, combines live television broadcasts with a telecommunications component to create live, interactive programming for the Brazilian market place. Through its platform, the Company manages the entire process from concept to national broadcast and monetizes call traffic generated for telecommunications providers.
About Dutchess Capital Founded in 1996, Dutchess Capital manages investment funds which make investments in emerging growth companies. Dutchess has invested over US$200 million in companies located in North America, Latin America, Europe, Asia and Australia. It maintains offices in Boston, New York, London and Beijing. For further information about Dutchess, please visit www.dutchesscapital.comForward Looking Statements This news release contains "forward-looking statements" which are not purely historical and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission. Contact: Michael Novielli Director email@example.com ph (845)575-6770 SOURCE NatureWell Incorporated d/b/a Brazil Interactive Media, Inc.