The Experiential Agency Closes Second Round of $2.5 Million Funding in a Private Placement
16 September 2004 - 9:00PM
PR Newswire (US)
The Experiential Agency Closes Second Round of $2.5 Million Funding
in a Private Placement Capital to Be Used to Expand Client Services
and Complete Acquisitions CHICAGO, Sept. 16 /PRNewswire-FirstCall/
-- The Experiential Agency, Inc., (XA) (OTC BB: EXAG), a major
national event marketing firm that serves many Fortune 500
companies, reported that it has closed the second round of its $2.5
million funding through a private placement to institutional
investors. The first round of $1.25 million was raised in July. The
funding will be used to expand its client services and to complete
acquisitions as part of its business strategy to become a complete
vertically integrated national event marketing firm serving the
needs of high-profile global brands. The details of the transaction
will be available in the Company's 8K filing. Chairman and CEO
Frank Goldstin of XA said, "Our business strategy is proceeding
according to our timetable. Our expanded service offerings are
already helping us to gain new clients as well as earn wider profit
margins on the business of existing clients. These funds will help
us complete the new design centers we are opening in Chicago and
New York. These showplaces are essential to demonstrate to
prospects the excitement we can provide for their marketing
events." 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, Disney,
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. (OTC BB: 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. For more information
on this event, please contact: Company Investor Relations Media
Relations Lara Shipp Truc N. Nguyen Stan Froelich XA Stern &
Co. Stern & Co. 312-397-9100 ext. 2399 VP, Investor Relations
VP, Media Relations 212-888-0044 212-888-0044 DATASOURCE: The
Experiential Agency, Inc. CONTACT: Lara Shipp of XA,
+1-312-397-9100 ext. 2399, , or Investor Relations, Truc N. Nguyen,
VP, Investor Relations, , or Media Relations, Stan Froelich, VP,
Media Relations, , both of Stern & Co., +1-212-888-0044 Web
site: http://www.expagency.com/
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