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Microcap & Penny Stocks : EBLD - Entertainment Blvd -- Ignore unavailable to you. Want to Upgrade?

To: Note bene who wrote (2092)	4/30/1999 9:34:00 AM
From: Pennyslayer	Respond to of 3838

Friday April 30, 7:02 am Eastern Time Company Press Release Entertainment Boulevard Announces $10,000,000 Private Placement 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. 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 websites and product orders stemming therefrom, increased levels of competition, technological change, dependence upon third party suppliers, and other risks. Not for distribution to Canadian news wire services or dissemination in Canada. Contact: