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EXHIBIT 99.1
NTN COMMUNICATIONS RAISES $2.0 MILLION IN PRIVATE OFFERING
CARLSBAD, Calif., Nov. 14 /PRNewswire/ -- NTN Communications Inc. (Amex: NTN),
today announced that it is raising $2.0 million through the private sale of NTN
common stock pursuant to Rule 506 of Regulation D. The proceeds from the sale
will be used for working capital and general corporate purposes relating to
further expansion of the DITV Network and infrastructure and continued BUZZTIME
development.
Two private investors, collectively, have agreed to purchase 1,218,584 shares of
NTN common stock at a price of $1.64125 per share. In addition, they will
receive warrants to purchase a total of 609,292 shares of common stock at the
same price per share.
This announcement does not constitute an offer to sell or the solicitation of an
offer to buy, nor shall there be any sale of these securities in any state in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state. The securities
offered have not been registered under the Securities Act of 1933 and may not be
offered or sold in the United States absent registration or an applicable
exemption from registration requirements.
