Atlantis Internet Group Corporation Signs Term Sheet for $5 Million Equity Financing
July 18 2012 - 6:30AM
Marketwired
Atlantis Internet Group (PINKSHEETS: ATIG) is pleased to announce
that the Company has signed a term sheet for a discounted
at-the-market (ATM) equity offering of up to Five Million Dollars
($5,000,000 USD) with Fairhills Capital Offshore Ltd, a Cayman
Islands exempted company (Fairhills).
The discounted ATM transaction, which is pending the execution
of definitive documentation and the effectiveness of an S1
registration statement with the Securities and Exchange Commission,
allows but does not require Atlantis Internet Group to issue and
sell up to the number of Common Stock shares having an aggregate
purchase price of Five Million Dollars ($5,000,000 USD) to
Fairhills.
"We are extremely pleased to have secured this financing
commitment," says Donald Bailey, CEO of Atlantis Internet Group
(ATIG). "We consider Fairhills' funding commitment to be a
validation of the enormous market potential for the ATIG product
line. This is a huge milestone for ATIG as we launch the only
nationwide live cash multi-vendor server-based platform on Tribal
lands and gear up for Commercial Casinos as legislation is passed
for Intrastate Internet Gaming. The proposed financing with
Fairhills will allow us to access the capital needed to go into
full production, bring our products to market, and fund our U.S.
expansion plans while enhancing value for our shareholders."
About Atlantis Internet Group Corporation (ATIG).
www.atlantisinternetgroup.com
Atlantis Internet Group Corp. is a public Nevada Gaming
corporation specializing in the development of casino games, casino
management software, slot machine software, gaming networks and
land-based casino development. For more information visit:
http://www.atlantisinternetgroup.com or
www.tribal-gaming-network.com
Forward Looking Statement
Any statements made in this press release which are not
historical facts contain certain forward-looking statements; as
such term is defined in the Private Security Litigation Reform Act
of 1995, concerning potential developments affecting the business,
prospects, financial condition and other aspects of the company to
which this release pertains. The actual results of the specific
items described in this release, and the company's operations
generally, may differ materially from what is projected in such
forward-looking statements. Although such statements are based upon
the best judgments of management of the company as of the date of
this release, significant deviations in magnitude, timing and other
factors may result from business risks and uncertainties including,
without limitation, the company's dependence on third parties,
general market and economic conditions, technical factors, the
availability of outside capital, receipt of revenues and other
factors, many of which are beyond the control of the company. The
company disclaims any obligation to update information contained in
any forward-looking statement. This press release shall not be
deemed a general solicitation.
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Contact: Info@atlantisinternetgroup.com
http://www.atlantisinternetgroup.com
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