BTWO -- B2Digital, Inc.
Com (No Par)
COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
B2Digital, Inc. Secures $12.5M in Equity Financing; New Funding Comes on Heels of The Purchase of Euroswissgaming
BEVERLY HILLS, Calif., Jan 27, 2005 (BUSINESS WIRE) -- B2Digital, Inc. (OTCBB:BTWO), a provider of Pay per View and Interactive Digital Services to the hospitality industry, announced today that the company has secured a funding commitment for up to $12.5 million from Dutchess Private Equities Fund, II, LP.
B2Digital President Robert Russell stated, "We are excited to enter into another equity line agreement with Dutchess Private Equities Fund. The funds will expedite our business development and the costs of these funds are relatively inexpensive. Based on the commitment, the cost of capital to the company will be far lower than the costs for other funding options that are available. This funding provides us the flexibility and control needed to develop our company in an orderly and cost effective manner."
Under the agreement, Dutchess Private Equities Fund has committed to purchase up to $12.5 million in shares over a 36-month period at B2digital`s discretion. Ted Smith, Executive Vice President of Corporate Finance, stated: "We are pleased to have the opportunity to work with B2digital again in funding the development of the company. We look forward to continuing our relationship with management."
About B2Digital, Inc.
B2Digital, Inc. is a provider of video-on-demand and pay-per-view services to the hospitality industry, with over 10,000 rooms now deployed in the United States alone. The Company is currently marketing hi-speed Internet access and VOD products, including wi-fi and now in room "gaming where legal." The Company can now offer licensing of online poker and gaming software to the hotel industry worldwide. B2Digital is committed to delivering the next generation of interactive communication services to its growing database of clients. For additional information, please visit http://www.b2digital.com or http://www.euroswissgaming.com.
This press release contains forward-looking statements involving risks and uncertainties including statements regarding the Company`s future performance. Such statements are based on management`s current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual future results may differ materially from those anticipated, depending on a variety of factors which include, but are not limited to, our ability to leverage our technology, manage our growth, protect our intellectual property rights, attract new customers and general economic conditions affecting consumer spending, including uncertainties relating to global political conditions, such as terrorism and the conflict with Iraq. Information with respect to important factors that should be considered is contained in the Company`s Annual Report on Form 10-KSB as filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.
SOURCE: B2Digital, Inc.
CONTACT: B2Digital, Inc.
Robert Russell, 310-281-2571
James Wexler, 480-221-8080
Copyright (C) 2005 Business Wire. All rights reserved.
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