PlayBOX Secures up to $1 Million in Investment Financing
17 June 2008 - 7:10AM
Marketwired
LONDON, UNITED KINGDOM Inc. ("PlayBOX") (OTCBB: PYBX), a global
media entertainment distribution company, today announced that it
has signed a share subscription agreement with Karada Ltd.
("Karada") worth $1M USD.
Karada has signed a share subscription agreement to purchase
shares in PlayBOX's common stock, for gross proceeds of $1,000,000
USD.
"We are extremely pleased with this infusion of capital," said
Robert Burdon, CEO of PlayBOX. "The additional funds will be used
to fuel our aggressive acquisition strategy and accelerate our
growth."
Karada is an off-shore investment company that has been an
ongoing investor of PlayBOX. It is, and is pleased with the Delta
acquisition and performance.
About PlayBOX
PlayBOX is a growing global media entertainment distribution
company that offers a wide variety of distribution channels for new
music artists and small-to-medium sized record labels. PlayBOX is
aggressively growing its traditional (retail) and non-traditional
(digital, online and mobile) distribution channels so independent
artists can reach their waiting public even more quickly and
easily, while staying at the forefront of emerging trends in
distribution. Through a series of strategic mergers and
acquisitions, PlayBOX will become a world leader in the
distribution and marketing of global entertainment media, with a
strategic focus on delivering digital media through PC's,
television and mobile phones. PlayBOX's recent acquisition of Delta
Leisure Group Plc, with its combination of IP ownership of
copyrights in music and visual media, access to the traditional
marketplace, and early position in the digital download music
market, now puts PlayBOX in an excellent position to capture its
share of the $8bn independent global music marketplace.
FORWARD-LOOKING STATEMENTS:
Statements about PlayBOX's future expectations and all other
statements in this press release other than historical facts are
"forward-looking statements" within the meaning of section 27A of
the Securities Act of 1933, Section 21E of the Securities Exchange
Act of 1934, and as the term is defined in the Private Litigation
Reform Act of 1995. PlayBOX's actual results could differ
materially from expected results. PlayBOX does not undertake any
obligation to update forward-looking statements to reflect
subsequently occurring events or circumstances. Should events occur
which materially affect any comments made within this objective,
PlayBOX will appropriately inform the public.
Contacts: PlayBOX (US) Inc. Harry Maloney +44 (0) 7717201313
Email: investor@play-box.com Website: www.play-box.com
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