Bingo.com Purchases Two Cash Bingo Sites.ANGUILLA, British West Indies British West Indies: see West Indies; West Indies Federation. -- Bingo.com, Ltd. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BNGOF), operator of the Internet's pre-eminent bingo portal, is pleased to announce that it has purchased the popular cash bingo web sites www.winabingo.com and www.groovybingo.com. Bingo.com has completed an asset purchase of these sites which includes the player cash deposits, URLs, and player databases for a sum to be determined by the number of active players in the database and the amount of revenue they generate for the Company over the next 12 months. Active players from these sites will immediately have their accounts credited in the Bingo.com system and begin playing in the Bingo.com cash games. "The acquisition of Winabingo and Groovy groov·y adj. groov·i·er, groov·i·est Slang Very pleasing; wonderful. groov  i·ness n. Bingo is another important step in Bingo.com's development as a online cash bingo business," commented Tarrnie Williams, the Company's 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. . "Bingo.com is completely focused on growing our active database of cash players through all available means including marketing and cash bingo website acquisition." About Bingo.com Bingo.com, Ltd. operates the popular web portal See portal. www.bingo.com offering free and cash games including multiplayer bingo, video poker Video poker is a casino game based on five-card draw poker. It is played on a computerized console which is a similar size to a slot machine. History Video poker first became commercially viable when it became economical to combine a television-like monitor with a , 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, Ltd. Bingo.com, Ltd. (OTCBB:BNGOF) |
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