Today's News Release!!!
Applied Gaming to expand lottery program in Vietnam
Applied Gaming Solutions of Canada Inc AGC
Shares issued 21,500,004 Dec 8 close $0.60
Thu 9 Dec 99 News Release
Mr. David Aftergood reports
Applied Gaming Solutions of Canada has entered into an agreement with
Berkshire Funding of New York and its affiliated companies, which includes
Eagle Fidelity Gold Inc. Under the terms of the agreement, Berkshire will
assist AGS in the development of financing strategies for the continued
expansion of the lottery program in Vietnam and other on-line lottery
opportunities worldwide.
Berkshire's primary experience is working with U.S.-based companies, some
of which are Nasdaq related. It also has a successful record of assisting
Canadian companies as well. It typically develops yield enhancement
contracts, debt service reserve collateralisation structures, and inverse
floater yield enhancement instruments, which assist corporations to secure
U.S.-based financing for their projects.
Berkshire Funding has perfected a number of structures that replace
traditional debt services with equity participation. In certain
transactions this could be convertible preferred stock, or a conversion
into common stock at an exit formula, such that the investor receives a
premium to interest dollars, while at the same time, a protected, enhanced
or even guaranteed return of principal at a future date. The agreement
provides for Berkshire to explore a number of key strategic options in the
U.S. financial markets
"The addition of a New York-based funding organization is key to our
long-term strategic direction, with both Trinity capital of Toronto and
Berkshire Funding of New York in place, Applied Gaming now has
representation in all the major North American financial markets," said
David Aftergood, president and chief executive officer of Applied Gaming
Solutions of Canada Inc.
WARNING: The company relies upon litigation protection for
"forward-looking" statements.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
Later...Gator |
