Last Chance for Shareholders to Exercise Raven Moon's Below Market Priced Warrants
Tuesday October 24, 8:31 am ET
Exercise Extension Expires October 31, 2006
ORLANDO, Fla.--(BUSINESS WIRE)--Raven Moon Entertainment, Inc. (OTCBB:RMNE - News) announced today that holders are nearing the last chance to exercise the below-market warrants before they expire on October 31, 2006. Chairman and CEO Joey DiFrancesco thanked brokers who are helping their clients exercise their warrants in a timely fashion. "This could be the last warrant offer for a while," said DiFrancesco. "The company benefits by directly receiving the proceeds and the shareholders benefit by getting below-market-price restricted shares that are exempt from any reverse splits for twelve months."
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TERMS:
The terms of the warrant dividend are: shareholders of record as of September 1, 2006 shall receive one warrant for each share of common stock owned as of that date. The warrant allows the shareholder to exercise 10 shares of common restricted stock for each warrant they own and exercise between September 15, 2006 and October 31, 2006, at a 50% discount of the closing ask price on the day their check is dated. Once warrants are exercised and accepted by the company all transactions are final and irrevocable. Common shares purchased as a result of exercising these warrants will be restricted from sale for one year. Due to processing costs, the company cannot accept exercises that total less than $25.00.
INSTRUCTIONS TO BROKERS AND SHAREHOLDERS:
Between September 15, 2006 and October 31, 2006, if your account is with a broker and you have not received a physical warrant, send a copy of your brokerage statement to Raven Moon Entertainment no later than October 31, 2006 verifying the number of shares you owned in your account as of September 1, 2006. Indicate the number of warrants you would like to exercise at a 50% discount of the closing ask price on the day you write your check and make the check payable to Raven Moon Entertainment, Inc. Mail the statement and check to: Raven Moon Entertainment, Inc., 2005 Tree Fork Lane, Suite 101, Longwood, FL 32750. Be sure to provide instructions on where to send the restricted common shares.
If you have received a physical warrant from the company, fill it out and indicate the number of warrants you wish to exercise at a 50% discount of the closing ask price on the day you write your check and make it payable to Raven Moon Entertainment, Inc. Send the signed warrant certificate, the check and any instructions to Raven Moon Entertainment at the above address. Upon receipt the company will authorize the transfer agent to issue the shares to you.
Shareholders who need information on how to exercise their warrants may contact Carol Merry at Fahlgren Mortine Investor Relations at (614) 825-1750 or by email: carol.merry@fahlgren.com.
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Safe Harbor Act Notice: This release may contain forward-looking statements that involve risks and uncertainties, including without limitation, acceptance of the company's products, increased levels of competition, product and technological changes, the company's dependence upon financing and third- party suppliers, and other risks detailed from time to time in the company's federal filings, annual report, offering memorandum or prospectus. Specifications are subject to change without notice.
