GameCom Completes $15,000,000 Common Stock Equity Line
ARLINGTON, Texas--(BUSINESS WIRE)--June 5, 2000--GameCom, Inc. (OTCBB:GAMZ) today announced that it has entered into a subscription agreement for a $15,000,000 sale of common stock and warrants under a private equity line contract with Swartz Private Equity, L.L.C., an institutional private equity fund.
This financing allows GameCom to issue common stock and warrants at the company's discretion as often as monthly as funds are needed in amounts based upon certain market conditions, and subject to an effective registration statement. The pricing of each common stock sale is based upon current market prices at the time of each draw, and GameCom may set a floor price for the shares each month at the company's discretion.
"We are excited to complete this transaction with Swartz Private Equity, L.L.C., and view this investment as a threshold point in the evolution of GameCom," said L. Kelly Jones, GameCom's chief executive officer. "This $15,000,000 agreement catapults GameCom into a new and viable financial category, and allows the company to aggressively implement the marketing and sale of 'Net GameLink(TM) entertainment systems."
About 'Net GameLink(TM)
Net GameLink(TM) is a network-enabled computer gaming entertainment system featuring a 3' X 3' X 6.5' physical kiosk enclosure. 'Net GameLink(TM) features the AMD Athlon(TM) processor, a Redhat 6.1 Linux system for firewalling and routing services, and state-of-the-art software, hardware, and connectivity to provide interactive play among gamers at a single location via an intranet, or at widely-disbursed locations via the Internet. Each 'Net GameLink(TM) location will provide access to the user's choice of approximately ten games at any time via the intranet, all of which will be in an interactive format, and to a multitude of games via the Internet.
GameCom designed, manufactures, and assembles 'Net GameLink(TM), an interactive Internet gaming concept utilizing network-enabled gaming kiosks. GameCom is a fully reporting, publicly-traded Texas corporation based in Arlington, Texas.
This press release contains certain forward-looking statements. Forward-looking statements are generally preceded by the words such as "plans," "expects," "believes," "anticipates," or "intends." Investors are cautioned that all forward-looking statements involve risks and uncertainty that could cause the actual results to differ materially from current expectations. GameCom urges investors to review in detail the risks and uncertainties contained within GameCom's filings with the Securities and Exchange Commission.
GameCom, Inc., Arlington
L. Kelly Jones, 817/265-0440
BW0228 JUN 05,2000