November 18, 2010
ANGUILLA, B.W.I., November 18, 2010 / Bingo.com, Ltd. (OTC BB: BNGOF), owner of the popular online gaming community http://www.bingo.com, today announced that Praetorian Capital Management LLC has sold all of its 8,675,999 shares representing 13.58% of the issued and outstanding shares of Bingo.com, Ltd.
“We would prefer not to be exiting this investment at this time,” said Harris Kupperman, CEO of Praetorian, “however tax considerations played a significant part in our decision and its timing.”
“We would like to thank Praetorian Capital Management LLC for their assistance in the development of Bingo.com over the last several years and look forward to a similarly productive relationship with the purchasers of their holdings.” said Tarrnie Williams, CEO of Bingo.com.
The shares were purchased by non U.S. residents in a private, non brokered, transaction.
For full details of the Company’s operations and financial results, please refer to the Securities and Exchange Commission website at www.sec.gov or the Bingo.com website at http://www.bingo.com.
gaming community http://www.bingo.com. The Bingo.com website offers multiplayer bingo, slot machines, sweepstakes, and more. Players come together from around the world to chat, share, play and win at Bingo.com. With over 1,990,000 registered users http://www.bingo.com is one of the most recognized and most visited bingo entertainment destinations on the Internet. Bingo.com operates its multi-language and multi-currency bingo and casino system as part of the Unibet partner program (http://www.poweredbyunibet.com).
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” 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-K, filed with the SEC on March 31, 2010, and the prospectus filed under Rule 424(b) of the Securities Act on March 9, 2005 and the SB2 filed July 17, 2007, 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.
For more information contact:
- Henry Bromley