B2Digital, Inc. Secures $12.5M in Equity Financing; New Funding Comes on Heels of The Purchase of Euroswissgaming
BEVERLY HILLS, Calif., Jan 27, 2005 (BUSINESS WIRE) -- B2Digital, Inc.
(OTCBB: BTWO), a provider of Pay per View and Interactive Digital Services to the
hospitality industry, announced today that the company has secured a funding
commitment for up to $12.5 million from Dutchess Private Equities Fund, II, LP.
B2Digital President Robert Russell stated, "We are excited to enter into another
equity line agreement with Dutchess Private Equities Fund. The funds will
expedite our business development and the costs of these funds are relatively
inexpensive. Based on the commitment, the cost of capital to the company will be
far lower than the costs for other funding options that are available. This
funding provides us the flexibility and control needed to develop our company in
an orderly and cost effective manner."
Under the agreement, Dutchess Private Equities Fund has committed to purchase up
to $12.5 million in shares over a 36-month period at B2digital's discretion. Ted
Smith, Executive Vice President of Corporate Finance, stated: "We are pleased to
have the opportunity to work with B2digital again in funding the development of
the company. We look forward to continuing our relationship with management."
About B2Digital, Inc.
B2Digital, Inc. is a provider of video-on-demand and pay-per-view services to
the hospitality industry, with over 10,000 rooms now deployed in the United
States alone. The Company is currently marketing hi-speed Internet access and
VOD products, including wi-fi and now in room "gaming where legal." The Company
can now offer licensing of online poker and gaming software to the hotel
industry worldwide. B2Digital is committed to delivering the next generation of
interactive communication services to its growing database of clients. For
additional information, please visit b2digital.com or
euroswissgaming.com.
law.
SOURCE: B2Digital, Inc.
CONTACT: B2Digital, Inc.
Robert Russell, 310-281-2571
or
Uptick.com
James Wexler, 480-221-8080
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