Eleven James Completes $30 Million Additional Capital Raise

Eleven
James™ Inc.,
the company revolutionizing the luxury goods market
with its pioneering “Discover, Experience and Share” platform that
optimizes access, variety and value in luxury consumption, announced
today that it has successfully completed debt and equity fundraising
efforts providing up to $30 million of additional capital. Since its
inception in 2013, Eleven James has raised over $40 million. Randy
Brandoff, Founder & CEO of Eleven James, made the announcement following
the company’s most successful fourth quarter to-date, during which
Eleven James launched its Women’s Collection.

The company will prioritize using its new funds to expand its luxury
timepiece collection, enhance its personalized member experience, as
well as scale technology and infrastructure to support continued growth.
With this capital raise, Eleven James is poised to provide members with
access to one of the largest watch collections in the world.

Of the $30 million in committed capital, $20 million is in the form of a
credit facility from Great American Capital Partners, LLC (GACP), a
wholly owned subsidiary of B. Riley Financial, Inc. (NASDAQ: RILY),
which provides asset-based debt opportunities for middle market
companies. The remaining $10 million is in the form of a Series A-1
equity financing led by existing investors and management, for which the
company has completed the initial closing of approximately $9 million.

“Eleven James is at the forefront of the luxury consumer evolution –
where luxury is no longer defined by the traditional ‘buy and hold’
model, but rather by a new paradigm of multiple ‘experiences and
memories’,” said Brandoff. “The successful capital raise validates
Eleven James’ business model, affirms its commitment to top-notch
management, internal systems and controls, and firmly establishes our
position as a leader in democratizing access to luxury goods and
experiences. Eleven James provides personalized, technology-enabled
solutions that prioritize access, service, community and financial
flexibility as never before.”

Olivier Reza, Eleven James Chairman, added, “In 2016, Eleven James made
great strides in expanding and strengthening its team and
infrastructure, scaling its product offerings and inventory, and
elevating the trajectory of its business. It continues to demonstrate
its resonance with both emerging luxury consumers and mature but
increasingly disillusioned consumers alike. Now that we have secured the
requisite financial resources, Eleven James is empowered to realize its
vision of becoming the ultimate destination for a new, modern era in
luxury experience.”

John Ahn, President of GACP commented, “At this stage and with this
compelling asset class, Eleven James and GACP are well suited for each
other. We are excited to partner with Eleven James and to play an
important role in its continued growth and success.”

EA Markets Securities LLC acted as the exclusive financial advisor and
placement agent to Eleven James on the debt transaction.

ABOUT ELEVEN JAMES:

Eleven James™ Inc. is a pioneering experience platform that provides Dynamic
Access
TM – “Discover, Experience and Share” – to an
unrivaled collection of luxury timepieces. Members also have access to a
myriad of personalized benefits and services, as well as exclusive
events and experiences. For further information on individual and
corporate membership options, please visit www.ElevenJames.com
or call 855-ELEVEN-J (855-353-8365).

This press release contains forward-looking statements that are based on
the current expectations of management. Forward-looking statements
(identified by words such as “will,” “expect,” “anticipate” and
“intend”) are subject to risks, trends and uncertainties that could
cause actual results to differ materially and such statements should be
evaluated with the understanding of their inherent uncertainty.

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