The Experiential Agency Closes a $1.25 Million Funding Round in a Private Placement
07 July 2004 - 9:00PM
PR Newswire (US)
The Experiential Agency Closes a $1.25 Million Funding Round in a
Private Placement Capital to be Used to Complete Strategic
Acquisitions CHICAGO, July 7 /PRNewswire-FirstCall/ -- The
Experiential Agency, Inc., (XA) (Nasdaq OTC Bulletin Board:
EXAG.OB), a major national event marketing firm that serves many
Fortune 500 companies, reported that it has closed a $1.25 million
dollar funding round and has secured a commitment for an additional
$1.25 million through a private placement to institutional
investors. The funding will be used to complete strategic
acquisitions and support the Company's current expansion plan. The
details of the transaction will be available in the Company's 8K
filing. Chairman and CEO Frank Goldstin of XA said, "Following a
period of industry consolidation, and during this period of strong
growth in the event marketing industry, we are well positioned to
take advantage of the terrific opportunities for XA to expand its
profitability from operations by acquiring profitable companies in
this industry. These acquisitions will increase our client base as
well as add to our profitability by gaining in-house capabilities
that we are currently outsourcing. These vibrant organizations are
eager to align themselves with XA and share in its future success."
The event marketing industry generates nearly $80 billion a year in
direct spending, according to a study by Deloitte and Touche LLP.
Corporate spending on event marketing has been growing; it rose 15%
in 2003 and it is predicted to add another 15%-to-20% in 2004.
(Source: PROMO Magazine) About The Experiential Agency, Inc. The
Experiential Agency, Inc., (XA) has full service offices in
Chicago, New York and Los Angeles from which it provides
corporations and highly visible brands with comprehensive event
marketing, design and production services. Since 1989, Chairman and
CEO Frank Goldstin and his team have been the creative force behind
prestigious, national projects for such clients as The NBA,
McDonald's, Song Airlines, Eurex, Olympus, Salvatore Ferragamo,
Vogue, W Hotels, ABN AMRO and Emirates Airline. In 2003, Special
Events magazine ranked XA as one of the "Top 50 Powerhouse Event
Companies in the World." This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. In particular, when used
in the preceding discussion, the words "believes," "expects,"
"intends," "will," "anticipated," or "may," and similar conditional
expressions are intended to identify forward-looking statements
within the meaning of the Act and are subject to the safe harbor
created by the Act. Except for historical information, all of the
statements, expectations and assumptions contained in the foregoing
are forward-looking statements that involve a number of risks and
uncertainties. It is possible that the assumptions made by
management are not necessarily the most likely and may not
materialize. In addition, other important factors that could cause
actual results to differ materially include the following: business
conditions and the amount of growth in the company's industry and
general economy; competitive factors; ability to attract and retain
personnel; the price of the Company's stock; and the risk factors
set forth from time to time in the Company's SEC reports, including
but not limited to its annual report on Form 10-KSB; its quarterly
reports on Forms 10-QSB; and any reports on Form 8-K. The
Experiential Agency, Inc. (Nasdaq-OTC Bulletin Board: EXAG) takes
no obligation to update or correct forward-looking statements and
also takes no obligation to update or correct information prepared
by third parties that is not paid for by the Company. DATASOURCE:
The Experiential Agency, Inc. CONTACT: Company: Lara Shipp of The
Experiential Agency, Inc., +1-312-397-9100 ext. 241, or ; Investor
Relations: Truc N. Nguyen, VP, Investor Relations, , Media
Relations: Stan Froelich, VP, Media Relations, , both of Stern
& Co., +1-212-888-0044, for The Experiential Agency, Inc. Web
site: http://www.expagency.com/
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