HERMOSA BEACH, California, November 2, 2016 /PRNewswire/ -- SharkReach, Inc. ("SharkReach®" or the "Company") (OTC: SHRK) a millennial influence marketing company today announced that on September 13, 2016 it entered into an offer letter to purchase 100% of an internationally renowned, award winning, digital marketing agency based in Boston. The transaction is structured in cash and stock. Under the Agreement, the parties are required to keep the identity of the target and some details confidential until closing. The total purchase price for 100% of the target is approximately $6 million dollars, including earnouts, $1.5 million at the closing with another $4.5 million in stock and cash being delivered over a three year period at the then current trading price of the stock at the time of issuance. The transaction is subject to entering into a definitive merger agreement which will include customary conditions to closing, including the completion of due diligence and the completion of an audit of the target. Financing commitments have already been made with regard to the closing. The parties have agreed that the Closing date can be extended an additional 30 days at the Company's option. Steve Smith, the Company's CEO said: "We are very excited to welcome a second high-profile agency from Boson into the SharkReach family. With a specialty in Social they will be a great asset to the overall organization. Further, since they have been recognized as one of the INC. 5000 fastest growing private companies in America, we have high expectations for year over year double digit growth. One key growth area is government contracts, they have secured a significant one at at the state level and we believe that can be widely duplicated, given the expanded resources of SharkReach."