Press Releases 2001
Bingo.com Announces Financing with RedRuth Ventures INC.& Bingo INC. & Termination of Financing Plan W/Bounceback Technology
MARINA DEL REY, Calif., April 24 /PRNewswire Interactive News Release/ — Bingo.com, Inc. (OTC Bulletin Board: BIGR) announced that they have entered into a definitive agreement financing arrangement between the company, Redruth Ventures (RRV) and Bingo, Inc (BI). BIGR also announces that the financing talks with Bounceback Technologies have terminated.
The financing will see Bingo.com, Inc. issue a convertible debenture to RRV & BI in the amount of $1,250,000.00 due 3 years from the closing date with 12% interest payable annually. Additional terms of the debenture will include the right by RRV & BI to convert in to common shares of BIGR at the fixed price of $0.125 per share, BIGR will issue warrants giving RRV & BI the right to purchase an additional $3,000,000 worth of BIGR shares at a fixed price of $0.25 per share.
Shane Murphy the current Chairman, CEO and President of BIGR is pleased to announce the planned appointment of two new board members Mr. Mitch White and Mr. Randy Peterson. Mr. White is currently the founder and CEO of Cyop Systems International. Cyop is a software company developing e-commerce platforms for pay to play sites on the Internet. Mr. Peterson comes to Bingo.com with over 26 years experience as a police officer. Mr. Peterson is a recognized authority in matters related to Internet gaming and pay to play business practices.
Bingo.com Announces Financing Plan with Bounce Back Technologies.com, INC. and Termination of Merger Talks with Lottery Channel
Transaction Offers Stability and the Ability to Pursue Core Business Strategy
MARINA DEL REY, Calif., March 28 /PRNewswire/ — Bingo.com, Inc. (OTC Bulletin Board: BIGR) announced that they have entered into a letter of intent proposing a financing arrangement between the company and BounceBack Technologies (OTC Bulletin Board: BBTC) a Minnesota Corporation headquartered in Ocean Springs, Mississippi. BIGR also announces that the merger talks with The Lottery Channel, Inc. have terminated.
The proposed financing will see Bingo.com, Inc. issue a convertible debenture to Bounce Back Technologies.Com, Inc. in the amount of $1,250,000.00 due 3 years from the closing date with 12% interest payable annually. Additional terms of the debenture will include the right by BBTC to convert in to common shares of BIGR at the fixed price of $0.125 per share, BIGR will issue warrants giving BBTC the right to purchase an additional $3,000,000 worth of BIGR shares at a fixed price of $0.25 per share. At Closing BBTC will be given the right to name 4 members of an expanded 5 member BIGR Board, John J. Pilger the Chairman and CEO of BBTC will be named Chairman of BIGR, and Joseph M. Valandra, the new President and COO of BBTC will be named CEO of BIGR. Shane Murphy the current Chairman and CEO of BIGR will be named President and COO of BIGR.
Bingo.com Featured on RedHerring.com’s Shop Talk
MARINA DEL REY, Calif., Feb. 27 /PRNewswire/ — Bingo.com Inc. (OTC Bulletin Board: BIGR) a fast-growing entertainment site and game application service provider (ASP), today announced that the company has been featured on RedHerring.com’s Shop Talk, a leading on-line financial forum. The article, which ran in today’s forum, includes an interview with Bingo.com CEO, Shane Murphy, in which he discusses the company’s planned merger with Lottery.com and potential online lottery ticket sales.
The story is accessible at http://www.redherring.com.
During the interview, Shane Murphy said, “Although online lottery ticket sales represent a great future hope for us our core advertising, licensing and e-commerce business will remain our focus. The merger with Lottery.com also gives us co-branding and cross marketing opportunities that fall in line with our already established brand.”
Bingo.com Announces Brand Management Strategy
Transaction Offers Multi-Site Cross-Marketing and Co-Branding Opportunities; Creates Strong Platform for Proposed Online Lottery Ticket Sales. Company Will Assume a New Name and Leverage Its Popularity To Build a Family of Websites, Products and Services
MARINA DEL REY, Calif., Jan. 16 /PRNewswire/ — Bingo.com, Inc. (OTC Bulletin Board: BIGR) a fast-growing entertainment site and game application service provider (ASP), today announced that it intends to change its name as part of the company’s revised focus to build and acquire a number of websites, products and services that will appeal to its established yet expanding clientele. As previously announced, a first step in this plan is the proposed merger with Lottery.com (The Lottery Channel).
The new company, whose name will be determined in the first quarter of 2001, will include Bingo.com, Lottery.com, DollarBill.com, WaveGames.com, GameLand.com and all products, services and websites developed or acquired in the future that appeal to the company’s consistent and established group of demographics.
In a letter to shareholders, Shane Murphy, Bingo.com’s chairman and CEO, said, “Our anticipated merger with Lottery.com is the first step in our revised plan to become a brand management company. This merger gives us additional opportunities for cross marketing and co-branding of our current websites, a chance to participate in Lottery.com’s proposed expansion into online lottery ticket sales, and greatly enhance the company’s cash position following the closing of the deal.”
Murphy added, “We have established a popular brand in Bingo.com. Now it is time to direct this ever-increasing traffic flow to an expanding line of products, services and sites, including e-commerce based websites. Ultimately, we will build a family of popular material from which to draw advertising, licensing and e-commerce revenues.”