SeanieMac International Repays Asher Note in Full, Draws 200k of 600k Credit Line
December 10 2013 - 10:00AM
Marketwired
SeanieMac International Repays Asher Note in Full, Draws 200k of
600k Credit Line
HUNTINGTON, NY--(Marketwired - Dec 10, 2013) - SeanieMac
International, Ltd (OTCQB: BETS) ("SeanieMac"), announced today
that it has repaid the convertible promissory note owed to Asher
Enterprises, Inc. (the "Note") due on December 23, 2013 in full. As
a result none of the debt will be converted into equity and none of
the debt had been converted to equity at the time of repayment. The
Note will be retired entirely for cash.
In repaying the Note SeanieMac drew down 200k of its recently
established 600k credit facility as provided by Iliad Research and
Trading. The new credit facility bears interest at 8 percent. The
company will use the remaining proceeds after retiring the Asher
note to fund additional marketing.
About SeanieMac SeanieMac Limited is an Irish gaming company. It
owns and operates www.SeanieMac.com, an online sports and casino
wagering web-based platform serving gamblers directly under the
brand name SeanieMac.com.
While the site offers wagering for many categories outside of
sports, SeanieMac intends to capture the Irish market by initially
focusing on the Gaelic Athletics Association (GAA) or Gaelic Games
as well as Irish horse racing and soccer. The company's mission is
to provide a market-leading, user-friendly website for online
gambling, including sports betting and casino gaming (traditional
casino, live casino, poker, bingo and interactive skilled games).
The Company does not market to U.S. residents and, hereby,
specifically discourages them from attempting to access its
wagering services.
The Irish gambling industry generated approximately $18.7
billion in revenue in 2011, with $1.7 billion of that generated
online. The Irish online gambling sector is projected to reach $3.2
billion in 2012.
As its national pastime, the Gaelic Games have long been popular
in Ireland but they are gaining worldwide appeal, especially in
areas with large communities of Irish heritage and their
descendants, such as the U.S., Canada, Australia and the United
Kingdom, where many communities have their own teams and clubs
participating in the Gaelic Leagues locally and internationally. To
learn more about the GAA, see www.gaa.ie.
Safe Harbor Statement
This news release contains forward-looking statements that
involve risks, uncertainties and assumptions. If such risks or
uncertainties materialize or such assumptions prove incorrect, the
results of SeanieMac International, Ltd. and its consolidated
subsidiaries could differ materially from those expressed or
implied by such forward-looking statements and assumptions. All
statements other than statements of historical fact are statements
that could be deemed forward-looking statements, including but not
limited to statements regarding our expectations regarding amounts
staked and gross profits and our marketing initiatives. Such risks
and uncertainties include, among other things, the uncertainty
regarding consumer preferences, a decline in the popularity of our
website and competition in the online gambling industry. SeanieMac
assumes no obligation and does not intend to update these
forward-looking statements.
A further description of risks and uncertainties can be found in
SeanieMac International, Ltd.'s Annual Report on Form 10-K for the
fiscal year ended December 31, 2012 and in its reports on Form 10-Q
and Form 8-K.
Investor Relations Chuck Arnold 386.409.0200 info@invrel.net At
the Company Barry Brookstein Chief Executive Officer (386)
409-0200