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Playlogic Entertainment, Inc. Announces Private Placement
Company: Playlogic International
Date: 21 Mar 2008
(Amsterdam, The Netherlands) March 20, 2008 – Playlogic Entertainment, Inc. (OTCBB: PLGC) an independent publisher of entertainment software for PCs, consoles, handhelds, mobile devices, and other digital media; announced that it has successfully closed $3 million in equity ($1.00 per share) and $4 million in loan through a Private Placement. This loan of $4 million is bearing a yearly interest of 7% and a term of 2.5 years.
The total amount of $7 million is placed at existing and new shareholders, all accredited investors. After closing of this private placement, the company has 41.5 million common shares outstanding as per March 31st 2008.
The newly attracted funds will improve the working capital and equity position of the Company and to allow the Company to execute its business plan and adhere to release schedules for the year 2008.
The total amount of $7 million is placed at existing and new shareholders, all accredited investors. After closing of this private placement, the company has 41.5 million common shares outstanding as per March 31st 2008.
The newly attracted funds will improve the working capital and equity position of the Company and to allow the Company to execute its business plan and adhere to release schedules for the year 2008.
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