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Microcap & Penny Stocks : Advance Gaming Technologies Inc. (AGTI) -- Ignore unavailable to you. Want to Upgrade?

To: MadMatt who wrote (2826)	6/4/1998 3:13:00 PM
From: Claire G	Read Replies (2) \| Respond to of 4539

(COMTEX) ADVANCED GAMING TECHNOLOGY, INC. UPDATE ADVANCED GAMING TECHNOLOGY, INC. UPDATE VANCOUVER, June 4 /CNW-PRN/ - Advanced Gaming Technology, Inc. (OTCBB: ''AGTI'') reports on the Company's progress to complete a financing plan as well as a status report on negotiations that are underway for licensing/royalty, distribution, and joint venture agreements. Since March 1998, AGT's new management team has been in negotiations to secure a financing plan that addresses the Company's current liabilities, cash requirements to turn operations profitable, and funding for completion of Partimax, a bi-directional handset for the United Kingdom market and Sonic Bingo, a linked/progressive speed game in a joint venture with Sega Gaming Technology, Inc. Management expects to report on further developments in the near term. The Company has also been in discussions with four other gaming companies that have shown an interest in AGT's technology and in the Company's next generation of products. It is management's objective that these discussions culminate in licensing/royalty, distribution, or joint venture agreements consistent with the Company's new business strategy. Contingent upon the immediate completion of its financing plan, and based upon existing distribution and licensing agreements for Max Bingo Systems, the Company continues to expect positive operational cash flow by year end. If the Company is successful in its on-going negotiations with other gaming companies, revenues and cash flow would be significantly enhanced. Management believes one or more of these negotiations will be finalised this year. Information provided herein by AGT contains, and from time to time AGT may disseminate materials and make statements which may contain ''forward-looking'' information, as that term is defined by the Private Securities Litigation Reform Act of 1995 (the ''PSLRA''). These cautionary statements are being made pursuant to the provisions of the PSLRA and with the intention of obtaining the benefits of the ''safe harbour'' provisions of the PSLRA. AGT cautions investors that any forward-looking statements made by AGT are not guarantees of future performance and that actual results may differ materially from those in the forward-looking statements as a result of various factors, including but not limited to the contingencies noted above. Advanced Gaming Technology, Inc. creates, designs, and markets patented and proprietary gaming systems and software including technologically advanced electronic bingo systems. The Company is a major supplier of electronic gaming systems, offering increased play potential and revenue to gaming operators. Its stock trades under the symbol AGTI on the NASD Electronic Bulletin Board. SOURCE: Advanced Gaming Technology, Inc. -0- 06/04/98 /CONTACT: Advanced Gaming Technology, Inc. (604) 689-8841, fax (604) 689-2809, email agti(at)direct.ca, www.advancedgaming.com/ (AGTI) CO: Advanced Gaming Technology, Inc. ST: British Columbia IN: CNO SU: -30- * end of story *