Actiga Chairman and CEO Increases Equity Position; Participates in Company's Current Private Placement Memorandum through Debt Conversion
02-JUL-2008
Actiga Chairman and CEO Increases Equity Position; Participates in Company’s Current Private Placement Memorandum through Debt Conversion
--More than $515,000 Converted at $1.50 Per Share with Warrants at an Exercise Price of $1.75—
Riverside, Calif. – July 2, 2008 –Actiga Corporation (OTCBB: AGAC), a leading pioneer in active video gaming products and services, announced today that Amro Albanna, chairman and CEO of Actiga, converted $515,863 in debt into 343,908shares of the company’s common stock at $1.50 per share and received warrants to purchase 171,954 shares of common stock at an exercise price of $1.75 through participation in the company’s current private placement memorandum.
This benefits the company by reducing debt on its balance sheet.
About Actiga Corporation
Actiga Corporation is a leading pioneer in active gaming. The company’s mission is to empower users to enjoy real-life, natural motion game play controllers that provide access to revolutionary downloadable 3D games and PC/Console-based video games. The company is committed to bringing to market a portfolio of online and PC/Console gaming products and services through its family of companies like Qmotions. For additional information, visit http://www.actiga.com
SafeHarborStatement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Actiga Corporation. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, including, but not limited to, the availability of products in the third quarter of 2008, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statement. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statement: the ability of the company to successfully integrate wireless technology into its products; a delay in the timing of the launch of new products; general economic conditions; geopolitical events and regulatory changes; requirements or changes adversely affecting the businesses in which Actiga is engaged; demand for the products and services that Actiga provides. Actiga assumes no obligation to update the information in this press release.
ACTIGA CONTACT INFORMATION
ICR
Paula Kalandiak or Andrew Greenebaum
310-954-1100