Actiga Chairman and CEO Increases Equity Position; Participates in Company's Current Private Placement Memorandum through Debt Conversion.--More than $515,000 Converted at $1.50 Per Share with Warrants at an Exercise Price of $1.75-- RIVERSIDE, Calif. -- Actiga Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : AGAC AGAC Attorney General's Advisory Committee of United States Attorneys AGAC American Guild of Actors and Composers ), a leading pioneer in active video gaming products and services, announced today that Amro Albanna, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Actiga, converted $515,863 in debt into 343,908 shares of the company's common stock at $1.50 per share and received warrants to purchase 171,954 shares of common stock at an exercise price of $1.75 through participation in the company's current private placement memorandum private placement memorandum The documentation that provides information on a new security issue. It is similar to but less extensive than a prospectus. . This benefits the company by reducing debt on its balance sheet. About Actiga Corporation Actiga Corporation is a leading pioneer in active gaming. The company's mission is to empower users to enjoy real-life, natural motion game play controllers that provide access to revolutionary downloadable 3D games and PC/Console-based video games. The company is committed to bringing to market a portfolio of online and PC/Console gaming products and services through its family of companies like Qmotions. For additional information, visit http://www.actiga.com Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 about Actiga Corporation. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, including, but not limited to, the availability of products in the third quarter of 2008, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statement. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statement: the ability of the company to successfully integrate wireless technology into its products; a delay in the timing of the launch of new products; general economic conditions; geopolitical ge·o·pol·i·tics n. (used with a sing. verb) 1. The study of the relationship among politics and geography, demography, and economics, especially with respect to the foreign policy of a nation. 2. a. events and regulatory changes; requirements or changes adversely affecting the businesses in which Actiga is engaged; demand for the products and services that Actiga provides. Actiga assumes no obligation to update the information in this press release. |
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