**Great News**
Wednesday February 23, 6:15 pm Eastern Time
Company Press Release
SOURCE: Entertainment Boulevard, Inc.
Entertainment Boulevard Announces Completion of
$10 Million Private Placement
LOS ANGELES, Calif., Feb. 23 /PRNewswire/ -- Entertainment Boulevard, Inc. (OTC Bulletin Board: EBLD - news), a
leading provider of streaming entertainment-related media on the Internet as well as comprehensive media encoding services, today announced that the company has received $10 million from a private placement debt offering through Roth Capital Partners. Both individual and institutional investors participated in the private placement.
Stephen Brown, CEO of Entertainment Boulevard, stated, ``We are pleased to have the support of the investment community
as we continue to expand our operations. This funding will allow us to increase our content development efforts and to enlarge our capacity to provide our comprehensive encoding capabilities to a greater number of clients.'
The company also plans to utilize the funds raised in the private placement for strategic acquisitions, and for additional working capital needs.
About Entertainment Boulevard
Entertainment Boulevard owns Vidnet (www.vidnet.com), a leading provider of streaming entertainment-related media on the Internet, as well as a comprehensive media encoding service provider. Among the firm's award-winning Web sites is one of the most comprehensive interactive music video channels on the Web. Vidnet's music site has rapidly become a premier music destination site on the Internet. The firm's mandate of Internet global expansion includes not only increasing the content base and broadening the network channels on the Vidnet network, but also acting as a content aggregator to some of the largest companies on the Web. Based in Los Angeles, Vidnet continues to aggressively develop and implement strategic alliances with key commerce and entertainment companies, broadening its presence worldwide. Vidnet's encoding solutions division provides
its range of services to companies both large and small.
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 Web sites and product orders stemming therefrom, increased levels of competition, technological change, dependence upon third party suppliers, and other risks.
For further information, please contact David Bronte of Venture Catalyst Inc., 310-399-4059, fax 310-399-3431, for
Entertainment Boulevard, Inc.
SOURCE: Entertainment Boulevard, Inc.
biz.yahoo.com
Thanks,
Zeb Man |
