Consorteum Holdings, Inc. (CSRH.OB) Reaches Private Placement Financing Agreement

  @ibtimes on February 16 2010 9:33 AM

Consorteum Holdings Inc. is a firm with extensive expertise in the payments and transaction industries globally. Each program and initiative launched by the company has a goal of finding the right solution for its clients and driving additional transaction-based, long-term revenues for the company which will increase shareholder value.

A few weeks ago, the company announced that it has reached an agreement to raise additional financing with private investors who already had an investment interest in Consorteum. This agreement will provide for an initial investment of up to $1 million in the first two fiscal quarters of 2010. The funding was set to begin in February 2010 on a drawdown basis at the company’s discretion.

The funds received will enhance the delivery schedules of the company’s current contracts. In addition, the funds will allow Consorteum to take full advantage of any new business opportunities. The company is planning to aggressively pursue additional contracts in both the North American and international markets.

Craig Fielding, CEO of Consorteum Holdings, commented on the private placement cash infusion into the company. He said, “The market for our solutions is expanding rapidly. With full expectations of additional growth in our contract portfolio this year, this infusion allows us to pursue these opportunities more aggressively.”

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