SOURCE: Augme Technologies, Inc.

Augme Technologies, Inc.

February 15, 2011 08:28 ET

Augme Technologies, Inc. Completes $9 Million Private Placement of Common Stock and Warrants

NEW YORK, NY--(Marketwire - February 15, 2011) - Augme Technologies, Inc. (the "Company") (OTCBB: AUGT), a technology and services leader in interactive media marketing solutions that offers the only patented and innovative end-to-end mobile marketing platform, today announced that it has received securities purchase agreements for the private placement of 2,769,772 units, representing gross proceeds of approximately $9 million. 

Each unit was priced at $3.25 and consisted of one share of common stock and a warrant to purchase one-quarter share of common stock at an exercise price of $4.00 per share. The shares were sold to certain institutional and accredited investors. Augme Technologies has entered into a registration rights agreement with the investors pursuant to which the Company shall file a registration statement with the Securities & Exchange Commission registering (1) all of the common stock sold in the offering; and (2) the shares of common stock underlying the warrants sold in this private placement. After payment of commissions and expenses, the Company expects to receive net proceeds of approximately $8.3 million. The Company plans to use the proceeds of this financing to continue to expand its sales and marketing efforts and for other working capital purposes.

"We are pleased to announce the completion of this private placement," stated Paul Arena, Chief Executive Officer of Augme Technologies, Inc. "The proceeds from the capital raise will be used to support the execution of our business strategy, which includes expansion into additional vertical markets and the pursuit of other initiatives that are designed to accelerate future growth."

Northland Capital Markets, the capital markets and investment banking services group of Northland Securities, Inc, acted as sole placement agent for the offering.

The securities were offered and issued only to accredited investors in a private placement transaction under Section 4(2) under the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder. Accordingly, the securities offered in this placement have not been registered under the Securities Act of 1933, as amended, or state securities laws, and cannot be offered or sold in the United States absent registration with the Securities and Exchange Commission or an applicable exemption from the registration requirements. As part of the transaction, the Company has agreed to file a registration statement with the Securities and Exchange Commission covering the resale of the shares of common stock. This press release does not constitute an offer or sale of the Company's securities.

About Augme Technologies, Inc.

Augme Technologies, Inc. (OTCBB: AUGT) is the technology and services leader in interactive media marketing platforms that enable marketers and agencies to seamlessly integrate brands, promotions, video and other digital content through the power of the Internet and mobile communications. Augme's intuitive new media marketing platforms allow companies to quickly create, deploy and measure rich-media, interactive marketing campaigns across all networks and devices. Campaigns built on Augme marketing platforms strengthen customer loyalty by delivering personalized brand experiences to customers where they work, play and live. By leveraging the power of its AD LIFE™ mobile marketing solution with complementary services such as video content delivery (BOOMBOX®) and ad network provisioning (AD SERVE™), Augme connects brands and content to consumers in a network of mobile and multimedia experiences that enables companies and their marketing agencies to build sales and monetize brand interactions. Augme is headquartered in New York City. For more information, visit www.augme.com.

Augme Technologies, Inc.™, Augme™, AD LIFE™, BOOMBOX®, AD SERVE™ and the Augme logo are trademarks of Augme Technologies, Inc. All rights reserved.

Forward-Looking Statements
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. Factors that may cause actual results to differ materially from those in the forward-looking statements include those set forth in our Form 10-K and other reports filed with the SEC. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.

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