DGAP-News: Idea Fabrik Plc Receives Funding Indication from Waterford Group
(firmenpresse) - Idea Fabrik Plc / Letter of Intent/Capital Increase
25.05.2010 16:03
Dissemination of a Corporate News, transmitted by
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LONDON : Idea Fabrik PLC, (GB00B61CVK31, TI4.F) today announced that it has
executed a Letter of Intent with the Waterford Group of London whereby
Waterford will invest up to EUR 2,400,000 in Idea Fabrik through the
purchase of its common shares in a private placement transaction. Further
terms of the investment were not provided.
The capital will be used to continue the development of Echoverse(TM) which
the Company believes will address what is missing in today's digital
virtual world environments and deliver the most comprehensive convergence
of social media, entertainment and commerce to the on-line gaming and
social networking market.
Alex Shalash, Chairman of Idea Fabrik said, 'We are very pleased that we
have received this commitment from Waterford, this is an important step in
building the capital foundation for the success of our Company'.
About Idea Fabrik Plc
Idea Fabrik is a product development company that intends, through internal
development and targeted acquisitions, to bring to market immersive 3-D
virtual worlds that will provide consumer entertainment experiences that
combine multiplayer gaming, virtual worlds, and social networking element.
Our worlds will be easy to navigate, experience, and understand -
delivering exciting new frontiers for the full-spectrum of both experienced
and casual consumers of Internet gaming, entertainment and social
interaction. For additional information please visit www.ideafabrik.de.
Safe Harbor: Statements contained in this news release, other than those
identifying historical facts, constitute 'forward-looking statements'. Such
forward-looking statements relating to the Company's future expectations,
including but not limited to revenues and earnings, technology efficacy,
strategies and plans, are subject to safe harbors protection. Actual
Company results and performance may be materially different from any future
results, performance, strategies, plans, or achievements that may be
expressed or implied by any such forward-looking statements. The Company
disclaims any obligation to update or revise any forward-looking
statements.
Idea Fabrik Plc
Quadrant House Floor 4
Thomas More Square
London E1W 1YW
ir(at)ideafabrik.de
25.05.2010 16:03 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
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Datum: 25.05.2010 - 16:03 Uhr
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