MEMPHIS, Tenn., Dec. 23, 2004 (PRIMEZONE) -- Limelight Media Group, Inc. (OTCBB:LMMG), a provider of out-of-home digital and promotional networks, located in Memphis, TN announced today that it has entered into an agreement to sell 5 million (5,000,000) restricted common shares at $0.30 per share to American Marketing Complex (AMC) and 6,000 media exposures for a total of Three Million Dollars ($3,000,000) of cash equivalent credits.
The cash equivalent credits may be used in combination with cash, to obtain, if and when available, on a best efforts basis, certain goods and services used in the daily ongoing business of Limelight as well as provide the potential to satisfy certain other obligations of the Company from time to time.
Norman King, Chairman of American Marketing Complex stated, "We are pleased to be working with Limelight and really excited about the future of the Company."
"This transaction, we believe, will strengthen Limelight, bolster its working capital and address key operational issues during this challenging period," stated David V. Lott, President, Limelight Media Group, Inc. The Company has filed an 8-K Regulation FD statement on this transaction.
About Limelight Media Group, Inc.
Limelight Media Group, Inc. (OTCBB:LMMG), headquartered in Memphis, TN, creates, manages and supports out-of-home digital advertising and promotional networks. The Company's digital media management system enables simultaneous delivery of video content to a variety of remote audiences in real time, allowing for immediate customization of messages through a centralized network operations center. The company recently began expanding its efforts to include grocery, retail, restaurant, and the hospitality industry.
This release includes projections of future results and "forward-looking statements" as that term is defined in Section 27A of the Securities Act of 1933 as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934 as amended (the "Exchange Act"). All statements that are included in this release, other than statements of historical fact, are forward-looking statements. Although the management of Limelight believes that the expectations reflected in these forward-looking statements are reasonable, they can give no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from the expectations are disclosed in this release, including, without limitation, in conjunction with those forward- looking statements contained in this release.