Starnet Retains Ladenburg Thalmann to Assist Strategic Planning
Dec 15, 1999
ST. JOHNS, Antigua-- Starnet Communications International Inc. (OTC-BB: ``SNMM'') (``Starnet''), is pleased to announce it has formally engaged Ladenburg Thalmann to provide it with investment banking services, including advice and assistance on corporate strategic planning and financing options. Headquartered in New York since its formation in 1876, Ladenburg Thalmann (www.ladenburg.com) is one of the oldest US investment banking firms and has significant experience in the gaming and Internet industries.
Meldon Ellis, president and chief executive officer of Starnet said, ``This key strategic move locks into place critical financial resources and expertise that will enable us to swiftly and effectively execute our strategic growth plan. Commitment from Ladenburg Thalmann to provide ongoing investment banking services gives Starnet tremendous financial strength and flexibility as we move to consolidate our market leadership in I-gaming and capitalize on additional high potential market opportunities.''
The relationship also represents a strong vote of confidence in our business model and clearly demonstrates our commitment to deliver increased shareholder value,`` Ellis added.
Ellis also said, ``With the assistance of Ladenburg Thalmann, we are now in a position to not only accelerate our strategy of external growth in new markets, but pursue acquisitions that would complement our existing operations and generate significant internal revenue growth from our established licensee base. To date technology and services for licensees has been developed in-house. Management believes that acquisitions of companies with technology that would enhance Starnet's service offerings to its established licensee base is a potentially attractive alternative that would increase the value of this asset.''
Ladenburg Thalmann is a member of the New York Stock Exchange, and has offices in Boca Raton and Cleveland. With industry expertise in Internet technology, telecommunications, health care and gaming/leisure, Ladenburg Thalmann offers a broad range of corporate finance services, particularly for middle market companies. The firm also serves as an active market maker for many NASDAQ securities.
Starnet is a fully reporting US (Delaware) corporation, which currently trades on the National Association of Security Dealers (``NASD'') Over-The-Counter Bulletin Board. The company began trading in September of 1997 under the symbol ``SNMM''.
The Wall Street Journal has described Starnet as ``one of the established leaders in Internet gaming and entertainment''.
Starnet is a leading developer and producer of Internet technologies for gaming applications. For more information, please visit snmm.com.
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