Consorteum Holdings Inc. (CSRH.OB) Signs Agreement to Raise $1.5 Million for MyGolf Rewards Canada

Consorteum Holdings, Inc. was pleased to announce this morning that it has reached an agreement with Rosebank Capital to raise $1,500,000 for the MyGolf Rewards initiative.

According to the press release, these funds will be used for operational expenses and growth of the MyGolf Rewards Canada program, a majority owned subsidiary of Consorteum Holdings Inc. Initially rolling out in North America, the program will later expand into International markets. The funds will be primarily directed at relationship building with Golf Associations Internationally, sales focused initiatives, marketing, and strengthening of the MyGolf Rewards team.

The MyGolf program is anticipated to generate annual revenues of over $10 million within 24 months of launch. This new agreement ensures that a successful rollout of the program can now take place in 2010-2011.

Rosebank Capital is a Funding and Financial Services Company specializing in and recognized for creative financing programs. Since establishment in 1991, they have developed a broad range of customized financial services & solutions for their clients. Located in Brampton, Ontario, Rosebank Capital operates in all Canadian Provinces, except Quebec, and most of the United States.

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