SOURCE: M2 Global Ltd.

September 09, 2008 13:46 ET

M2 Global Ltd. Strengthens Balance Sheet With $2.0 Million Private Placement of Common Stock

ST JOHN'S, ANTIGUA--(Marketwire - September 9, 2008) - M2 Global Ltd. ("M2 Global") (BERMUDA: M2G), a leading provider of software for electronic payment, today announced it has sold 769,230 shares of its common stock to an institutional investor for $2.60 per share in cash in a private placement transaction. The gross proceeds of $2.0 million are expected to be used for general working capital purposes and may be used by M2 Global to acquire complementary products, technologies or businesses.

"We believe the Company is now well positioned to grow its business globally," said Mike Muscato, M2 Global's CEO.

About M2 Global Ltd.

M2 Global Ltd. develops, acquires, operates, holds and licenses income-producing intellectual property assets. The company focuses on software, patents, trademarks and other proprietary rights underlying information technology directed at the financial services industry. Our technology portfolio principally consists of transaction processing software enabling credit and debit card transactions, other online funds authorization and settlement systems and patented fraud prevention systems. Our principal software products are ENGIN and authENGIN.

Contact Information

  • Contact Information
    Darren Rennick
    M2 Global Ltd.