To: hammer who wrote (561 ) 3/3/1999 9:32:00 PM From: hammer Read Replies (2) | Respond to of 1119
More news - nice update - straight - to the point - informative. Things are beginning to come together! (COMTEX) B: Bingo.com Appoints New Chief Financial Officer and Closes B: Bingo.com Appoints New Chief Financial Officer and Closes Phase 1 Financing of US $1 Million TALLAHASSEE, FLA. (March 3) BUSINESS WIRE -March 3, 1999--Bingo.com (OTC BB:BIGG) ("the company"), a high technology Internet company that is developing the world's first FREE "Bingo-based" e-mail community, announced today that it has appointed a new Chief Financial Officer and that it has closed its Phase 1 financing of US $ 1 Million. The company is pleased to announce the appointment of Roger Flowerdew as the company's Chief Financial Officer. Flowerdew is a Chartered Accountant who, for the past decade, has specialized in structuring and managing the rapid growth of emerging private and high technology companies. Flowerdew has considerable experience in public company regulatory compliance and has assisted in raising equity financing of approximately C$30.0 million from institutional markets. Since the company began trading less than two months ago, the number of technicians and support staff working on the Bingo.com project has already grown to 30. In an industry such as the Internet, where growth can be exponential, Flowerdew's experience will be a great asset to the project's success. Separately, the company has granted to employees, options to purchase a total of 1.145 million shares, exercisable at a price of $4.75 per share. The options have various vesting periods of up to 3 years. The company has engaged Stratford Internet Technologies to assist in the design and implementation of its Bingo.com destination site. The company will issue 250,000 shares to Stratford in satisfaction of the U.S. $1.3 million contract price. The company has entered into a 3-month, U.S. $30,000 Investor Relations contract with the Wall Street Media Group to assist in media and investor awareness of the Bingo.com destination site. The contract will be paid out at U.S. $10,000 per month. Bingo.com has received national media coverage from the Financial Post and Computer Dealer News. The destination site will be the future home of the Million Dollar Jackpots, "a destination site like no other on the world-wide-web." The site will offer extensive free downloads, free information and free "hot links" with a wide variety of exciting prizes and promotional partnerships, creating a communicative infrastructure of international chat, e-commerce, entertainment and excitement. Bingo.com will provide Internet users with a destination point or portal site that will be easily recognized as an informative home page. The site will be set up as an information center with free e-mail, free web pages, free news, free music, chat rooms, sports, entertainment and lifestyle information in a fun and exciting environment, surrounding the most popular game in the world: BINGO. Through an extensive array of media partnerships, once every 24 hours, a surprise jackpot Bingo will be announced with a 30-minute countdown notice. The Bingo.com destination site will be launched in conjunction with a national media campaign as the world's first FREE "Bingo-based" e-mail/web page community. Bingo.com will combine news and lifestyle information in a fun and exciting interactive and entertaining environment. Wherever you are...wherever you want to go... Bingo! You're there. This press release contains forward-looking statements, particularly as related to the business plans of the company, within the meaning of Section 27A of the Securities Act of 1933 and Sections 21E of the Securities Exchange Act of 1934 and are subject to the safe harbor created by these sections. Actual results may differ materially from the company's expectations and estimates. For additional company information contact Chris Sargent, or Rob Riker toll-free at 877/322-4646. -0- AMP/se* CONTACT: Bingo.com Inc. Rob Riker or Chris Sargent, 877/322-4646 invest@bingo.com www.bingo.com KEYWORD: FLORIDA NEW YORK INDUSTRY KEYWORD: MANAGEMENT CHANGES COMPUTERS/ELECTRONICS COMED INTERACTIVE/MULTIMEDIA/INTERNET ENTERTAINMENT Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com *** end of story ***