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Bingo Aff Program Gambling News Archive Completes Stock Placement

Online gaming provider now has over half a million dollars to help fund its expansion beyond the UK.

Friday 27th February 2009 Limited, operator of popular online gaming site, has raised over half a million dollars to use for future investment by placing 3.5 million shares at 15cents each. The shares were placed with non-US residents under Regulation S exemptions and will see the Anguilla-based firm pocket $525,000. 'We are pleased to have completed this financing during these turbulent times and believe these funds will help aleviate the currency risks recently encountered as we move towards profitability,” said Tarrnie Williams, Chief Executive Officer for “The proceeds from the offering will primarily be used to fund our expansion beyond the United Kingdom market as we launch our gaming system in several languages and allow players to deposit in various different major currencies. We expect these initiatives will enable to grow more rapidly and expand its market share.' revealed that it now has 39,700,203 common shares outstanding and recently announced total revenues for the final quarter of 2008 rose 17 percent year-on-year to reach $1.32 million.

Source: OnlineCasinoNews

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