MESA, Ariz., Sept. 10, 2010 (GLOBE NEWSWIRE) -- B2 Digital, Inc. (Pink Sheets:BTDG) announced today it has entered into two separate Debenture Subscription Agreements providing for up to $2,000,000 in financing that can now be allocated primarily towards the Firma Gold Joint Venture enabling B2 Digital to accelerate its efforts at the properties located in Quebec.
The debenture will also assist B2 Digital in its efforts for making additional acquisitions, as well as exploration and expansion of the property claims of their mining subsidiaries. This bridge financing will also enable B2 Digital to organize and prepare for additional rounds of financing as required.
The debenture is convertible at $0.10 per share.
In May, B2 Digital provided an update outlining its strategy of maximizing shareholder value by entering the field of mineral exploration through acquisitions and joint ventures. This strategy included building a portfolio of mineral properties and advancing the properties through exploration or select joint ventures.
B2 Digital President, Paul LaBarre stated, "The next phase of our business model entails building shareholder value through exploration and by seeking joint venture partners such as Firma Gold Inc. who we have just recently entered into a binding Letter of Intent. Our enthusiasm builds as we compile data on our projects, however, we recognize the fact that our plans require a bridge financing facility for funding future exploration and research."
About B2 Digital
B2 Digital is dedicated to seeking acquisitions and joint ventures within the resource sector and in particular mining properties that contain gold and silver reserves. Management of its subsidiary has many years of experience in the exploration and operations of mining assets. B2 Digital is currently in the process of divesting itself of some of its technology assets. More information on B2 Digital can be found at: http://www.b2digital.us
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risk and uncertainties, including but not limited to those detailed from time to time in the Company's filings with PinkSheets.com. Mining projects are subject to numerous risk factors including changing regulations, volatile commodity prices, and others factors that may preclude production should commercially viable reserves be established on a property and exploration plans dependent on funding and approval of any required permits. Please review on www.pinksheets.com as posted: July 29, 2010, Exhibit 1.02, Page 1 "Risk Factors".