Great news today about EBLD
Entertainment Boulevard Announces $10,000,000 Private Placement
Business Wire - April 30, 1999 07:32
MARINA DEL REY, Calif.--(ENTERTAINMENT WIRE)--April, 30, 1999--Entertainment Boulevard,
Inc. (EBLD:OTC BB), operators of entertainment websites including Vidnet, Screen Clips, Netfomercial,
and Pro Sports Net (www.entertainmentblvd.com) announces a Private Placement of 2 Million Units at
$5.00 per unit for total proceeds of $10,000,000, on a best efforts basis, through a financial advisor in
Toronto, Canada. All of the shares will be sold through a private placement outside of the United States.
Each unit is comprised of one Common Share and a one-half Common Share Purchase Warrant. Each full
purchase warrant will entitle the holder to purchase one common share for $7.50 for a period of one year
following closing of the issue. Closing is anticipated to be on or about May 20, 1999. Each Common Share
is restricted from trading until effective date of a registration statement, which the company is obligated
to file. 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.
Entertainment Blvd., Inc. is one of the premier streaming media providers of entertainment-related
content on the Internet. The Los Angeles based firm's mandate of Internet global expansion includes
the launch of current and future websites under the umbrella of EntertainmentBlvd.com. Among the
award-winning sites is the firm's flagship site, Vidnet (www.vidnet.com), one of the most comprehensive
interactive music video channels on the web. Vidnet has rapidly become a premier music destination site on
the Internet.
Entertainment Boulevard is aggressively continuing to develop and implement strategic alliances with
key commerce and entertainment companies to broaden its presence worldwide. |
