LOS ANGELES, Jan. 25 /PRNewswire-FirstCall/ -- en2go International Inc.
("en2go" or the "Company") (OTC Bulletin Board: ENGO) is pleased to
announce that it has closed a private placement offering (the "Placement").
The Placement resulted in the issuance by en2go of a total of 1,350,000
shares of en2go common (the "Shares") at a purchase price of $1.00 (USD)
per Share for gross proceeds of $1,350,000. en2go received net proceeds of
approximately $1,320,000 after deducting $30,000 in placement fees.
The Company also wishes to announce that it has retained Connect
Capital Limited ("CCL") and Connect Corporate Communications Inc. ("CCCI"
and collectively the "Connect Group") to assist with investor relations and
corporate communications services.
The Connect Group, with extensive combined experience in public
markets, financial investor relations and corporate communications, has
worked closely with en2go since February of 2007 to help raise start-up
funds, build the Company and guide it through a period of growth and
increased capitalization. The Connect Group will continue to work with
en2go to help communicate its corporate story, and on the development and
execution of investor and public relations programs directed toward
individual investors, analysts and institutional investors.
CCL and CCCI will each receive a monthly fee of US$5,000 for an
18-month term subject to termination by the Company with 90 days written
notice. en2go will also issue as compensation to CCL, subject to regulatory
approval as required, a non-transferable warrant to purchase all or any
part of 600,000 shares of its common stock at an exercise price of $1.00
per share. The term of the warrant is five (5) years from date of signing.
In addition, en2go will grant to CCCI, subject to regulatory approval as
required, a non- transferable warrant to purchase all or any part of
400,000 shares of its common stock at an exercise price of $1.00 per share
for a period of five (5) years from date of signing.
The proceeds from the Placement will be used to help fund the Company's
technology incubators in Los Angeles and Las Vegas, for working capital,
and for other general corporate purposes.
en2go is a newly-emerged, California-based company, that looks beyond
web 2.0 in the creation of digital entertainment, convergence and
technology intelligence. The company is developing next-generation super
applications and digital solutions targeting lucrative desktop real estate
-- the billions of computer, television, PDA and mobile phone desktops in
use worldwide. The en2go brain trust, founded by entrepreneur and developer
Tolga Katas, comprises like-minded developers whose individual and
collective contributions to the computer and digital age are already
recorded in the histories of the financial and entertainment industries.
Steve Wozniak, who invented the personal computer and co-founded Apple
Computer, former EMI Music digital development head Ted Cohen, legendary
developer John Draper (a.k.a. Captain Crunch), music industry veteran Paul
Fishkin, and the visionary Katas have joined forces in a disruptive,
next-generation enterprise creating digital solutions 2go. These innovators
are empowered by the users of the internet and by what world wide web
inventor Tim Berners-Lee first envisioned in 1989..." a web that could be
made more intelligent and perhaps even intuitive about how to serve a
user's needs."
For further information about en2go call 1.888.730.4888 or visit
http://www.en2go.net.
Forward Looking Statements: This release contains "forward-looking"
statements that are based on present circumstances and on en2go's
predictions with respect to events that have not occurred, that may not
occur, or that may occur with different consequences and timing than those
now assumed or anticipated. Such forward-looking statements are not
guarantees of future performance or results and involve risks and
uncertainties that could cause actual events or results to differ
materially from the events or results described in the forward-looking
statements. Such forward-looking statements are made only as of the date of
this release and en2go assumes no obligation to update forward-looking
statements to reflect subsequent events or circumstances. Readers should
not place undue reliance on these forward- looking statements.
SOURCE en2go International Inc.
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Related links:
http://www.en2go.net
CONTACT:
en2go, 1-888-730-4888
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