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FORT LAUDERDALE, FL, July 14, 2010 /24-7PressRelease/ -- 7 Star Entertainment, Inc., an independent online entertainment dating company ("7 Star" or the "Company"), is pleased to announce that it has signed an Investment Agreement with Kodiak Capital Group, LLC of New York for a $10 million equity facility, the funding of which will be contingent upon the Company achieving certain conditions.
Upon successful completion of the required conditions and subsequent receipt of the funds, the Company plans to use the funding for the online marketing and growth of its flagship product AdultMatchClub.com and the build-out of its existing online portfolio. The Company's business plan projects growth through national and international marketing, the utilization of time-tested marketing strategies and through the acquisition of similar online properties.
Joseph Daleo Jr., 7 Star's President and CEO commented, "The facility offered to us by Kodiak is sure to put us on the frontline of the 'online dating community' by developing our database and technology, creating an aggressive marketing budget for consumer awareness and enhancing our brand recognition. We plan to continuously enhance our sites and servers by utilizing our latest proprietary technology; ultimately improving the end user's online experience while simultaneously increasing shareholder value."
Additional information can be found at our corporate website located at: http://www.7starent.com
About Kodiak Capital Group, LLC
Kodiak Capital Group, LLC is engaged in assisting growth companies in all facets of their long-term strategy by providing capital and progressive business solutions. Kodiak manages a portfolio of investments in public and private equities. Founded in 2009, Kodiak has transacted in excess of $400 million in financing for companies across a multitude of industries, including biotechnology, business services, consumer products, defense, healthcare, Internet, manufacturing, medical devices, natural resources, oil and gas, renewable energy and wireless communications. Headquartered in New York City, Kodiak has assisted companies throughout North America and Australia.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to, certain delays beyond the company's control, inability to successfully conclude negotiations currently in progress, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
SOURCE: 7 Star Entertainment
CONTACT: 7 Star: (954)205-3067
7 Star is an online entertainment company. For further information, please contact us at (954) 205-3067.
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