Bingo.com Announces Financing With Redruth Ventures Inc. and Bingo, Inc. And Termination of Financing Plan With Bounceback Technologies Inc.

Apr 24, 2001, 01:00 ET from Bingo.com, Inc.

    MARINA DEL REY, Calif., April 24 /PRNewswire Interactive News Release/ --
 Bingo.com, Inc. (OTC Bulletin Board:   BIGR) announced that they have entered
 into a definitive agreement financing arrangement between the company, Redruth
 Ventures (RRV) and Bingo, Inc (BI).  BIGR also announces that the financing
 talks with Bounceback Technologies have terminated.
     The financing will see Bingo.com, Inc. issue a convertible debenture to
 RRV & BI in the amount of $1,250,000.00 due 3 years from the closing date with
 12% interest payable annually.  Additional terms of the debenture will include
 the right by RRV & BI to convert in to common shares of BIGR at the fixed
 price of $0.125 per share, BIGR will issue warrants giving RRV & BI the right
 to purchase an additional $3,000,000 worth of BIGR shares at a fixed price of
 $0.25 per share.
     Shane Murphy the current Chairman, CEO and President of BIGR is pleased to
 announce the planned appointment of two new board members Mr. Mitch White and
 Mr. Randy Peterson.  Mr. White is currently the founder and CEO of Cyop
 Systems International.  Cyop is a software company developing e-commerce
 platforms for pay to play sites on the Internet.  Mr. Peterson comes to
 Bingo.com with over 26 years experience as a police officer.  Mr. Peterson is
 a recognized authority in matters related to Internet gaming and pay to play
 business practices.
     Shane Murphy, CEO of Bingo.com, said, "We believe the financing gives us
 the stability we need to execute our business plan.  Our revenue streams will
 continue to include advertising, data base management, software licensing and
 the Company's soon to be released pay to play initiatives.  Although it is our
 expectation that all revenue streams will show meaningful growth over the
 coming year our particular focus will be the development and launching of
 several pay to play initiatives."
     "This financing allows us to broaden our scope by introducing new games
 and other entertainment offerings.  We believe that the downturn in the market
 has created extremely good value opportunities for the acquisition of content
 and revenue at the right price.  We believe this is an ideal strategic move to
 leverage and expand our business model as the stickiest site on the Web."
     It should be noted that the Company has not changed its trading symbol.
 Nasdaq has added an E to our trading symbol to denote a late filing of our
 10K.  The Company anticipates this filing will be done within 30 days.
     Bingo.com -- recently ranked as the "Stickiest Site on the Web" for the
 month of September by Media Metrix -- operates a Web site offering free
 casino-style games and, in addition, is an application service provider (ASP).
 The company's game offerings include multiplayer bingo, video poker,
 concentration games, sweepstakes and slot machines.  Bingo.com also offers
 affinity programs that provide users the opportunity to convert online
 winnings into cash and prizes.
     Additionally, for the months July through September, Nielsen//NetRatings
 reported that Bingo.com's average monthly aggregate user session was
 approximately nine hours -- nearly twice that of the next highest ranked Web
 site.  The average individual user session at Bingo.com was more than one
 hour, while the average user session on 99% of Internet sites is a matter of
 minutes.
 
     This announcement contains forward-looking statements within the meaning
 of Section 27A of the Securities Act of 1933 and Section 21E of the Securities
 Exchange Act of 1934.  Actual results could differ materially from those
 projected in the forward-looking statements as a result of various factors
 including the ability of the company to successfully commercialize it's new
 technologies as well as risk factors set forth under "Factors Affecting Future
 Operating Results" in the company's annual report on Form 10-K and such other
 risks detailed from time to time in the company's reports filed with the
 Securities and Exchange Commission.  The company undertakes no obligation to
 publicly release the result of any revisions to these forward-looking
 statements, which may be made to reflect events or circumstances after the
 date hereof or to reflect the occurrence of unanticipated events.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X34135375
 
 

SOURCE Bingo.com, Inc.
    MARINA DEL REY, Calif., April 24 /PRNewswire Interactive News Release/ --
 Bingo.com, Inc. (OTC Bulletin Board:   BIGR) announced that they have entered
 into a definitive agreement financing arrangement between the company, Redruth
 Ventures (RRV) and Bingo, Inc (BI).  BIGR also announces that the financing
 talks with Bounceback Technologies have terminated.
     The financing will see Bingo.com, Inc. issue a convertible debenture to
 RRV & BI in the amount of $1,250,000.00 due 3 years from the closing date with
 12% interest payable annually.  Additional terms of the debenture will include
 the right by RRV & BI to convert in to common shares of BIGR at the fixed
 price of $0.125 per share, BIGR will issue warrants giving RRV & BI the right
 to purchase an additional $3,000,000 worth of BIGR shares at a fixed price of
 $0.25 per share.
     Shane Murphy the current Chairman, CEO and President of BIGR is pleased to
 announce the planned appointment of two new board members Mr. Mitch White and
 Mr. Randy Peterson.  Mr. White is currently the founder and CEO of Cyop
 Systems International.  Cyop is a software company developing e-commerce
 platforms for pay to play sites on the Internet.  Mr. Peterson comes to
 Bingo.com with over 26 years experience as a police officer.  Mr. Peterson is
 a recognized authority in matters related to Internet gaming and pay to play
 business practices.
     Shane Murphy, CEO of Bingo.com, said, "We believe the financing gives us
 the stability we need to execute our business plan.  Our revenue streams will
 continue to include advertising, data base management, software licensing and
 the Company's soon to be released pay to play initiatives.  Although it is our
 expectation that all revenue streams will show meaningful growth over the
 coming year our particular focus will be the development and launching of
 several pay to play initiatives."
     "This financing allows us to broaden our scope by introducing new games
 and other entertainment offerings.  We believe that the downturn in the market
 has created extremely good value opportunities for the acquisition of content
 and revenue at the right price.  We believe this is an ideal strategic move to
 leverage and expand our business model as the stickiest site on the Web."
     It should be noted that the Company has not changed its trading symbol.
 Nasdaq has added an E to our trading symbol to denote a late filing of our
 10K.  The Company anticipates this filing will be done within 30 days.
     Bingo.com -- recently ranked as the "Stickiest Site on the Web" for the
 month of September by Media Metrix -- operates a Web site offering free
 casino-style games and, in addition, is an application service provider (ASP).
 The company's game offerings include multiplayer bingo, video poker,
 concentration games, sweepstakes and slot machines.  Bingo.com also offers
 affinity programs that provide users the opportunity to convert online
 winnings into cash and prizes.
     Additionally, for the months July through September, Nielsen//NetRatings
 reported that Bingo.com's average monthly aggregate user session was
 approximately nine hours -- nearly twice that of the next highest ranked Web
 site.  The average individual user session at Bingo.com was more than one
 hour, while the average user session on 99% of Internet sites is a matter of
 minutes.
 
     This announcement contains forward-looking statements within the meaning
 of Section 27A of the Securities Act of 1933 and Section 21E of the Securities
 Exchange Act of 1934.  Actual results could differ materially from those
 projected in the forward-looking statements as a result of various factors
 including the ability of the company to successfully commercialize it's new
 technologies as well as risk factors set forth under "Factors Affecting Future
 Operating Results" in the company's annual report on Form 10-K and such other
 risks detailed from time to time in the company's reports filed with the
 Securities and Exchange Commission.  The company undertakes no obligation to
 publicly release the result of any revisions to these forward-looking
 statements, which may be made to reflect events or circumstances after the
 date hereof or to reflect the occurrence of unanticipated events.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X34135375
 
 SOURCE  Bingo.com, Inc.