Monday March 31,2014 : BINGO.COM CLOSES PRIVATE PLACEMENT
$500 000 raised to further develop and market social bingo product
Bingo.com has closed a private placement of 1 250 000 common shares at $0.40 per share to raise net proceeds of $500 000. The shares were placed with an unnamed non-US private company.
Proceeds will be used to finance the ongoing development and marketing of Bingo.com's social bingo product Trophy Bingo, confirmed Jason Williams, chief executive officer.
"Trophy Bingo is a patent- pending social bingo product that is currently available worldwide on Android devices and will be coming to iOS and desktop platforms soon. While on-going modifications to the game continue, performance metrics thus far have outperformed our expectations and we remain confident in the game's long-term potential," said Williams.