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Exhibit 99.1
CONTACT INFORMATION:
Investors:
Kate Rajeck
Quokka Sports, Inc.
415/908-3800
[email protected]
Press:
Caryn Marooney
OutCast Communications
415/392-8282
[email protected]
QUOKKA SPORTS ANNOUNCES CONVERTIBLE DEBT OFFERING
San Francisco, California (July 27, 2000) - Quokka Sports, Inc. (Nasdaq: QKKA)
today announced its intention to issue convertible promissory notes in a private
placement.
These securities have not been registered under the Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent registration
or an applicable exemption from registration requirements.
Quokka Sports expects to use the net proceeds raised from the private placement,
which is expected to be approximately $50 million, for working capital, debt
refinancing and other general corporate purposes.
This announcement is neither an offer to sell nor a solicitation of an offer to
buy any of these securities.
Cautionary Statement Under The Private Securities Litigation Reform Act Of 1995:
Except for the historical information contained herein, this news release
contains forward-looking statements that involve risks and uncertainties,
including the Company's ability to complete the financing on satisfactory terms,
or at all, and its ability to meet anticipated capital needs, as well as the
other risks detailed from time to time in the Company's SEC filings, including
its Report on Form 10-K for the year ended December 31, 1999, its Quarterly
Report on Form 10-Q for the quarter ended March 31, 2000. Actual results could
differ materially from those discussed and reported results should not be
considered as an indication of future performance. All forward-looking
statements are based on information available to the Company on the date hereof,
and the Company assumes no obligation to update such statements.
