Wednesday May 3, 1:14 pm Eastern Time
Company Press Release
SOURCE: LION Inc.
LION Inc. Lands Financing of Up to $3,000,000
Hedge Funds, Managed by ICM Asset Management, Inc. Lead Round of Financing
SEATTLE, May 3 /PRNewswire/ -- Plenum Communications, Inc., doing business as LION Inc. (OTC Bulletin Board: LINC - news), today announced that it has
raised additional financing. Hedge Funds, managed by ICM Asset Management, Inc., a Spokane, WA-based investment advisor, are leading this round of funding
with an option to purchase additional shares in the future.
``This Hedge Funds' investment is very timely, especially with the encouraging results from our first quarter,'' said Jack McMillan, Chairman and CEO of LION Inc.
``We have been able to consistently deliver results with very limited resources. Over the quarter, the company has positioned itself as an industry leader and
increased its business opportunities by launching new products, such as LoanCAT and Free Mortgage Dot Com. This capital will enable LION to enhance core
products, redesign the Lioninc.com web site (www.lioninc.com) and update content, as well as support future company initiatives.''
About LION and Lioninc.com
LION is a pioneer provider of online business-to-business products and services since 1995. It has emerged as a premier provider of cutting-edge Internet products
for the over $1 trillion mortgage industry. Lioninc.com brings together borrowers, real estate companies, mortgage brokers, mortgage lenders and financial
institutions in order to facilitate home loans in an easy, efficient and quick manner.
Lioninc.com's headquarters is located at 2201 Lind Ave. SW, Renton, WA 98055. Telephone: 800-546-6463. Fax: 425-902-4141. For more information, visit the
company web sites at www.lioninc.com and www.lionchoice.com. For more information on LION, Inc. (formerly Plenum Communications) visit www.lioncorp.net.
Actual results will vary because of factors such as: mortgage market trends, interest rate changes, housing/consumer trends effecting home purchases, internet
competition, risks of system interruption, management of potential growth, risks of new business areas, new internet technology, joint-marketing and sales
agreements, strategic alliances and other issues discussed in the Company's Form 10-KSB and 10-QSB reports which are on file with the Securities and Exchange
Commission.
CONTACT: Allen Ringer of LION, Inc., 888-251-7616, or aringer@lioninc.com; or Tim Bader of Lioninc.com, 800-546-6463, ext. 246, or tbader@lioninc.com.
SOURCE: LION Inc. |
