Bingo.com, Ltd. Announces Private Placement Closing.ANGUILLA, British West Indies British West Indies: see West Indies; West Indies Federation. -- Bingo.com, Ltd. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : BNGOF), announced today that it has closed a non-brokered private placement offering of 1,339,667 common shares at US$0.75 per share which has raised gross proceeds of US$1,004,750. The private placement was completed under Regulation S. Proceeds of the private placement will be used for general working capital and as a reserve for potential future acquisitions. "With the completion of this private placement Bingo.com has positioned itself to expand its user base and increase revenue by taking advantage of global market opportunities," remarked Tarrnie Williams, 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 Bingo.com. About Bingo.com Bingo.com operates the popular web portal See portal. www.bingo.com offering free games This article is about Free games. For other uses, see Free games (disambiguation). Free games are video games which are free software and contain exclusively free content. Because of this they are freely distributable and often cross-platform compatible. including multiplayer bingo, video poker, sweepstakes, slot machines, and more. With over 1,200,000 registered users and more than 800 new users everyday, www.bingo.com is one of the most recognized and most visited Bingo entertainment destinations on the web. 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 provides a "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. " for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by the company) contains statements that are forward-looking, such as statements relating to anticipated future success of the company. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of the company. For a description of additional risks and uncertainties, please refer to the company's filings with the Securities and Exchange Commission. Specifically, readers should read the Company's Annual Report on Form 10-KSB, filed with the SEC on March 21, 2005, and the prospectus filed under Rule 424(b) of the Securities Act on March 9, 2005, for a more thorough discussion of the Company's financial position and results of operations, together with a detailed discussion of the risk factors involved in an investment in Bingo.com, Inc. |
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