EBLD...$4 mil financing
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September 8, 1999 04:40 PM Eastern Time
MARINA DEL REY, Calif., Sept. 8 /PRNewswire/ -- Entertainment Boulevard, Inc. EBLD , (www.entertainmentblvd.com), one of the leading providers of streaming entertainment-related media on the Internet, today announced a $4 million Private Placement of convertible preferred stock through Robb Peck McCooey Institutional Services, who acted as the placement agent for Entertainment Boulevard. $2 million has already been made available, and the additional $2 million is anticipated upon the effectiveness of the registration statement which will be filed by the company covering the underlying common shares.
Net proceeds of the offering will be used for expansion of Internet sales and marketing, including brand promotion, content expansion, general corporate purposes, and general working capital.
About Entertainment Boulevard
Entertainment Boulevard, Inc. EBLD , www.entertainmentblvd.com, is one of the leading providers of streaming entertainment-related media on the Internet. Among the firm's award-winning Web sites is one of the most comprehensive interactive music video channels on the Web. Entertainment Boulevard's music site has rapidly become a premier music destination site on the Internet. The firm's mandate of Internet global expansion includes launching current and future Web sites under the umbrella of EntertainmentBlvd.com. Based in Los Angeles, Entertainment Boulevard is aggressively developing and implementing strategic alliances with key commerce and entertainment companies, broadening its presence worldwide.
Forward-looking statements in this press release are made pursuant to the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward looking statements involve risks and uncertainties, including, without limitation, the continued popularity of the Company's websites and product orders stemming therefrom, increased levels of competition, technological change, dependence upon third party suppliers, and other risks.
SOURCE Entertainment Boulevard, Inc.
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