SeanieMac International Signs Lock Up Agreement with Apollo Capital Corp
March 22 2017 - 9:35AM
InvestorsHub NewsWire
HUNTINGTON, NY--(NewMediaWire - Mar 22, 2017) - SeanieMac
International, Ltd. (OTC PINK: BETS) announced that as part of a purchase of
55k of outstanding debt from Apollo Capital Corp, the company and
Apollo Capital Corp have agreed to a lock up agreement on
approximately 93% of their debt. Except for an initial allowance
the lock up agreement restricts Apollo Capital Corp from any
conversions or sales during the lock up period. The initial lock up
period is 30 days with provisions for a 30-60 day extension subject
to the purchase of an additional 110k of their convertible debt. At
the end of that period the company and Apollo Capital Corp will
continue to negotiate for the potential purchase of more of their
debt and the further extension of the lock up agreement.
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.
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, 2015 and in its reports on Form 10-Q
and Form 8-K.