SOURCE: Atlantis Internet Group Corporation
LAS VEGAS, NV--(Marketwire - Jul 18, 2012) - Atlantis Internet Group (PINKSHEETS: ATIG) is pleased to announce that the Company has signed a term sheet for a discounted at-the-market (ATM) equity offering of up to Five Million Dollars ($5,000,000 USD) with Fairhills Capital Offshore Ltd, a Cayman Islands exempted company (Fairhills).
The discounted ATM transaction, which is pending the execution of definitive documentation and the effectiveness of an S1 registration statement with the Securities and Exchange Commission, allows but does not require Atlantis Internet Group to issue and sell up to the number of Common Stock shares having an aggregate purchase price of Five Million Dollars ($5,000,000 USD) to Fairhills.
"We are extremely pleased to have secured this financing commitment," says Donald Bailey, CEO of Atlantis Internet Group (ATIG). "We consider Fairhills' funding commitment to be a validation of the enormous market potential for the ATIG product line. This is a huge milestone for ATIG as we launch the only nationwide live cash multi-vendor server-based platform on Tribal lands and gear up for Commercial Casinos as legislation is passed for Intrastate Internet Gaming. The proposed financing with Fairhills will allow us to access the capital needed to go into full production, bring our products to market, and fund our U.S. expansion plans while enhancing value for our shareholders."
About Atlantis Internet Group Corporation (ATIG). www.atlantisinternetgroup.com
Atlantis Internet Group Corp. is a public Nevada Gaming corporation specializing in the development of casino games, casino management software, slot machine software, gaming networks and land-based casino development. For more information visit: http://www.atlantisinternetgroup.com or www.tribal-gaming-network.com
Forward Looking Statement
Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.