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| 8-K - LIVE VENTURES Inc | v204538_8k.htm |
LiveDeal
Secures Financial Commitment From Foreign Equity Investor
LAS
VEGAS, NEVADA – December 3, 2010 – LiveDeal, Inc. (NASDAQ: LIVE), a Las
Vegas-based provider of Internet marketing services for small businesses,
announced today that it has secured a commitment from a new investor to invest
up to $200,000 in the Company over the next three months.
The new
investor, a Japanese investment entity, has agreed to purchase up to $200,000
worth of newly issued common stock from LiveDeal in four installments of $50,000
each. The number of shares to be issued by the company in each
installment will depend on the average closing price of LiveDeal’s common stock
for the 90-day period immediately preceding the date on which the applicable
installment is completed. The actual purchase price will be a premium
to that 90-day average. In the first installment, the company will
issue 8,000 shares of common stock for an aggregate purchase price of $50,000
(equal to $6.25 per share). The final three installments are
scheduled to close on or before December 25, 2010, January 25, 2011, and
February 25, 2011, respectively.
Kevin A.
Hall, LiveDeal’s President and Chief Operating Officer, stated, “This equity
investment will provide LiveDeal with additional working capital to fuel
operations and strategic investments as we position the company for success in
2011. We appreciate our new stockholder’s confidence in LiveDeal and
our management team.”
For more
information about LiveDeal’s products and services, please visit www.livedeal.com.
Forward-Looking
and Cautionary Statements
This
press release may include statements that constitute “forward-looking
statements,” which are often characterized by the terms “may,” “believes,”
“projects,” “expects,” or “anticipates,” and do not reflect historical
facts. Forward-looking statements (including the statement above
regarding the company’s prospects for success in 2011) involve risks,
uncertainties and other factors that may cause actual results, performance or
achievements of LiveDeal, Inc. and its subsidiaries to be materially different
from those expressed or implied by such forward-looking statements.
Forward-looking
statements speak only as of the date the statement was made. LiveDeal
does not undertake and specifically declines any obligation to update any
forward-looking statements.
About
LiveDeal, Inc.
LiveDeal,
Inc. provides local customer acquisition services for small businesses to
deliver an affordable way for businesses to extend their marketing reach to
local, relevant customers via the Internet. LiveDeal delivers website
creation, Search Engine Marketing (SEM), Social Media Marketing (SMM), video,
and other online marketing tools as part of its InstantAgency suite of
products. These products and services are dedicated to delivering
agency quality online advertising at a fraction of the price of a traditional
online marketing agency. LiveDeal is headquartered in Las Vegas,
Nevada. For more information, please visit www.livedeal.com.
Investor
Relations Contact:
Larry
Tomsic, Chief Financial Officer
Phone: 702-939-0230
E-mail: ltomsic@livedeal.com