$CRWG Vertical interest social media network, Crow

$CRWG Vertical interest social media network, CrowdGather, Inc. (OTCQB:CRWG), today announced that it has entered into a definitive merger agreement with privately held, Plaor and Plaor Acquisition Corp, CrowdGather's wholly-owned subsidiary. Upon closing of the merger, the outstanding shares of Plaor will be converted into 55,075,800 shares of common stock of CrowdGather. The merger is anticipated to close before May 15th, 2014, and is subject to various closing conditions, including a condition that Plaor deliver audited financial statements prior to closing. Additional financial disclosures including a pro-forma income statement and balance sheet for the combined companies will be made available after closing. Plaor will also nominate one person to be appointed to CrowdGather's board of directors. After the completion of the merger, CrowdGather will have a total of 116,733,508 shares outstanding and initial, unaudited pro-forma revenues of approximately $2 million on an annualized basis.

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