SOURCE: Graffiti Entertainment

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January 20, 2011 18:45 ET

Graffiti Entertainment, Inc. Announces "Letter of Interest" for $17 Million Second Round Placement

REDWOOD CITY, CA--(Marketwire - January 20, 2011) - Graffiti Entertainment, Inc. today is announcing that it has received a "Letter of Interest" (LOI) from an investment banking firm for a second round investment in Graffiti Entertainment, Inc. 

The private placement amount is $17 million priced at $4.66 per common share. Due to non-disclosure restrictions the name of investment banking firm may not be disclosed at this time. The company has, however, received proof of funds from the investment banking firm.

Graffiti Entertainment plans on using the proceeds from this private placement for additional acquisitions before listing the company on the Frankfurt exchange.

About Graffiti Entertainment, Inc.

Redwood City, CA-based Graffiti Entertainment, Inc. (www.graffitientertainment.com), is a diverse media company that includes film, music and video game properties. The company publishes video games for advanced entertainment consoles, finances film properties, publishes music and is an international event production and talent management company.

Access additional information by visiting www.graffitientertainment.com.

Forward-Looking Statements:

The information in this Press Release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this release, and the Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release except as required by law.

Contact Information

  • Contacts:

    Public Relations:
    David Dempsey
    (650) 654-4800 x111
    Email Contact