Bingo.com to Close $204,000 Private Placement
ANGUILLA, BRITISH WEST INDIES–(Marketwire – Dec. 7, 2009) - Bingo.com, Ltd. (OTCBB:BNGOF), operator of the popular online gaming community http://www.bingo.com, today announced it has received signed subscription agreements supporting a private placement of 1.36 million common shares at $0.15 per share. Net proceeds raised will equal $204,000. 340,000 of the issued shares will be placed with Praetorian Offshore Ltd., a non U.S. resident under Regulation S exemptions. With this placement, Praetorian’s shareholding will increase to 20.06% of Bingo.com, Ltd. 340,000 of these shares were placed with a director and officer of the Company. The remaining 680,000 shares will be placed with two other non U.S. residents under Regulation S exemptions.