April 19, 2004
Bingo.com, INC. Announces Debenture Conversion Into Share Capital
VANCOUVER, Canada, April 19th, 2004 / Bingo.com, Inc. (OTC BB: BIGR), operator of the Internet’s pre-eminent bingo portal, announced the completion of the conversion of Debenture “A” and the accrued interest thereon into share capital of the Company.
The Debenture “A” of $1,250,000 was converted into 10,000,000 shares of the company at a rate of $0.125 per share. In addition the accrued interest of $400,667 on Debenture “A” was converted in 2,003,334 shares of the Company at a rate of $0.20 per share.
“This will significantly reduce our interest expense and reduce our stockholders deficit,” remarked Tarrnie Williams, the Company’s President and CEO.
Donald Curtis, the Managing Director of Bingo, Inc., the holder of the debenture, commented: “We are very pleased with the progress made by Bingo.com, Inc. over the past two years and are therefore converting the Debenture “A” and the accrued interest thereon, into common shares of the Company. We look forward to future progress of the Company especially considering it’s significant potential should the UK pass it’s Internet Gaming Bill, currently under consideration.”
For more information contact:
- Henry Bromley
- (264) 461-2646