Sunday, June 26, 2011 5:40:27 PM
LANGHORNE, Pa., June 6, 2011 (GLOBE NEWSWIRE) -- eGames, Inc. (Pink Sheets:EGAM), a developer and publisher of casual games for social networks, PC, Nintendo DS and Wii, iPhone and the Internet, today announced that it has completed a debt financing on June 3, 2011, in which eGames received gross proceeds of $400,000 in exchange for entering into a Senior Secured Promissory Note in the principal amount of $400,000 and a two-year Warrant to purchase 400,000 shares of eGames Common Stock.
The Company intends to use the net cash proceeds from the debt financing to fund product development of future game titles for social networks and for general working capital requirements.
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