SAN FRANCISCO, Dec. 22, 2010 /PRNewswire/ -- Merriman Capital, Inc., a wholly owned subsidiary of Merriman Holdings, Inc. (Nasdaq: MERR), today announced that it has acted as sole placement agent in Quepasa Corporation's (OTC Bulletin Board: QPSA) $13.1 million private placement of common stock to several institutional and individual investors at $7.50 per share. The transaction closed on December 20, 2010.
Quepasa will use the proceeds from the funding primarily to expand its gaming platform, including through acquisitions, and to facilitate the continued development of Quepasa-owned gaming IP and other general corporate purposes.
Details on the transaction can be found at Quepasa Corporation's website: http://www.quepasacorp.com/.
About Quepasa Corporation
Quepasa Corporation (OTCBB: QPSA), owns Quepasa.com, one of the world's largest and fastest growing trilingual Latino social networks. Quepasa.com is an authentic Latino community that provides fun, interactive, and easy to use social tools, and rich multimedia content in English, Spanish and Portuguese to embrace Latinos everywhere, and empower them to connect online, compete in contests and games and share their interests, ideas, and activities. Quepasa Corp. is headquartered in West Palm Beach, Florida with offices in Miami, Los Angeles, Scottsdale, and Hermosillo, Mexico. For more information about Quepasa, go to www.quepasacorp.com, or join for free at www.quepasa.com.
About Merriman Holdings, Inc.
Merriman Holdings, Inc. (NASDAQ: MERR) is a financial services firm focused on fast-growing companies and the institutions that invest in them. The company offers high-quality investment banking, equity research, institutional services and corporate & venture services. Merriman specializes in three industry growth sectors: Technology, CleanTech and Consumer, Media & Internet. For more information, please go to http://www.merrimanco.com/
Note to Investors
This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of the Company. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K/A filed on April 30, 2010. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise. The Form 10-K/A filed on April 30, 2010 and the Form 10-Q filed on November 15, 2010, together with this press release and the financial information contained herein, are available on our website, www.mcfco.com. Please click on "Investor Relations."
SOURCE Merriman Holdings, Inc.