MEMPHIS, Tenn., May 3, 2005 (PRIMEZONE) -- Limelight Media Group, Inc. (OTCBB:LMMG) of Memphis, TN has received a commitment for equipment financing for an initial amount of $3 million. The financing allows for purchase of equipment to be installed in anticipated client locations currently in final negotiations. The financing also allows for expanded financing as cash flow permits. The company obtained very favorable terms due to the cash flow projections associated with the equipment to be purchased. The financing package offers the added flexibility of repayment up to five years and does not involve any equity financing.
David Lott, CEO of Limelight Media, said, "We are excited about receiving a line of credit for purchasing equipment at such favorable rates. With several contracts in negotiation and expectation that agreements will be entered into in the near future, this financing allows for Limelight to rapidly fulfill its equipment needs as more contracts are closed. Furthermore, as we grow and increase cash flow, this line of credit will grow with the company."
Limelight Media Group, Inc. 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 is developing an initiative to enhance its product offerings in digital media with traditional media sources and technology products.
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 management believes that the expectations reflected in these forward-looking statements are reasonable; it 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.