SOURCE: Island Breeze International, Inc.

Island Breeze International, Inc.

August 15, 2011 15:20 ET

Island Breeze International, Inc. Signs $12.5 Million Funding Commitment

BELLMAWR, NJ--(Marketwire - Aug 15, 2011) - Island Breeze International, Inc. (OTCBB: IBII), an entertainment cruise development company, announced that on August 8, 2011, the Company entered into a funding commitment agreement in the amount of $12.5 million.

Pursuant to the Agreement, the underwriter will use its best efforts to place an aggregate of $12,500,000 of secured promissory notes to be issued by a to be formed subsidiary of the company. The notes will mature in 5 years and the interest rate will be fixed at issue at a rate not to exceed 420 basis points over comparable maturing US Treasury Notes. The notes will be secured by a first lien on the Company's vessel, the mv Island Breeze, which will be transferred to the to be formed subsidiary, as well as, among other security, land leases used for docking the vessel, office leases and equipment related to the vessel. The funding date of the notes is expected to be approximately ninety days from commencement of the funding commitment.

The proceeds from the notes will be utilized to continue renovations on the mv Island Breeze as well as other costs associated with the establishment of operations from a port located in the United States.

Additional information with respect to the Funding Commitment is contained in the Company's Interim Financial Report on Form 10-Q which was filed with the Securities and Exchange Commission on August 11, 2011.


Island Breeze International, Inc. (OTCBB: IBII) is focused on developing and operating entertainment cruise projects. Island Breeze International is currently evaluating port locations in the United States as well as East Asia for the establishment of its initial operations. Island Breeze International's corporate website is


The information contained in this news release, other than historical information, consists of forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Such forward-looking statements involve known and unknown risks and uncertainties, including all business uncertainties relating to product development, marketing, market acceptance, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

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