TORONTO, Feb. 8, 2008 (PRIME NEWSWIRE) -- Logica Holdings, Inc. (OTCBB:LGHL) announced today that it has signed a letter of agreement to raise up to $5 million through Crucible Capital Group, a New York-based investment banking firm. The Company will use the funds to spur the development of Annesdiary.com, the world's first secure social networking site for girls ages 6-14, further development of its other websites, as well as for acquisitions and additional corporate purposes.
"Logica Holdings has historically been in the development stages, but thanks to the success of Annesdiary.com, we are now a revenue-producing company," said Pino Baldassarre, Chief Executive Officer of Logica Holdings, Inc. "We have surpassed our original benchmarks and interest in Annesdiary.com is growing rapidly with enquiries from around the world coming in on a regular basis. This gives us greater confidence that our unique product is being extremely well received and will prove to be a great success in the marketplace as its protective safeguard qualities for children are recognized."
"Our attraction to Logica was due to Annesdiary.com, which we believe to be an important and exciting product," said Charles Moore, Chief Executive Officer of Crucible Capital Group. "We conducted extensive research into the company both internally and more importantly, with parents of young children and the feedback was universally positive. In addition, we compared Logica's biometrics program to that of their major competitors and were impressed by the elegance and efficiency of their system."
ABOUT LOGICA HOLDINGS, INC. (www.logicaholdings.com)
Logica Holdings, Inc. is a company whose primary focus is in the e-commerce and information technology sectors. The current configuration of held companies reflects a common theme: the growing global market for social networking and downloadable entertainment content. This is the essential idea behind the entities that are currently part of Logica Holdings, which include Plays On the Net, a comprehensive and global online guide to theater, Anne's World, licensee of Annesdiary.com, the world's first secure social networking site for girls ages 6-14, and Curtain Rising, a user-friendly search engine which will enable theater-goers to locate productions, venues and information with ease.
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ABOUT CRUCIBLE CAPITAL GROUP, INC (www.cruciblecapitalnyc.com)
Crucible Capital Group, Inc. provides financial and capital advisory services to Small Cap, Micro Cap and private companies. Crucible is designed to assist its clients with their long term capital structure plans and capital raising activities through its principals' experience and relationships with other organizations.
Safe Harbor Statement
This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for subsidiary markets and the demand for its products. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statement. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry and competition. The Company refers interested persons to its most recent Annual Report on Form 10-KSB and its other SEC filings for a description of additional uncertainties and factors, which may affect forward-looking statements. The company assumes no duty to update its forward-looking statements.