Merriman Holdings Inc. : MERRIMAN CAPITAL SERVED AS LEAD PLACEMENT AGENT FOR
LOCAL CORPORATION IN $5 MILLION RAISE
SAN FRANCISCO,April 30, 2013 - Merriman Capital, Inc., a wholly owned
subsidiary of Merriman Holdings, Inc. (OTCQX: MERR), announced today that it
acted as Lead Placement Agent for Local Corporation (NASDAQ: LOCM), in selling
$5 million in convertible subordinated notes and warrants to purchase common
stock. The proceeds are to be used for general working capital.
Norm Farra, a banker on Merriman's expanding Financial Entrepreneur Platform
(FEP), sourced the deal and was a critical part of the team in both placing
and closing the transaction. The Financial Entrepreneur Platform exclusively
supports highly ethical, independent investment bankers, respected research
professionals, wealth managers, and the clients they work with. Through
contractual service agreements, FEP members can obtain access to Merriman
Capital's business services, such as: compliance and security licensing;
equity distribution and placement; facilities; legal advice and document
review; technology infrastructure; investor conferences' and "deal or
non-deal" road shows.
"Working with Norm Farra and Local Corporation was a true pleasure," said
David Lachtman, managing director and head of equity placements at Merriman
Capital. "Together, we explored various financing options and ultimately
chose to close a transaction Merriman believes has favorable terms for both
the issuer and the investors."
About Local Corporation
Local Corporation (LOCM) is a leading online local media company that connects
brick-and-mortar businesses with over a million online and mobile consumers
each day using a variety of innovative digital marketing products. To
advertise, or for more information, visit: http://localcorporation.com.
About Merriman Capital, Inc.
Merriman Capital, Inc. is an investment banking firm providing equity and
options execution services, market making, and differentiated research for
high growth companies. The firm also provides capital raising, advisory, and
M&A services. Merriman Capital, Inc. is a wholly owned subsidiary of Merriman
Holdings, Inc. (OTCQX: MERR) and is the leading investment banking firm for
OTCQX companies. For more information, please go to
Merriman Capital, Inc. is a registered broker-dealer and member of The
Financial Industry Regulatory Authority (FINRA) http://www.finra.org/and the
Securities Investor Protection Corporation (SIPC)http://www.sipc.org/.
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 filed on April 1, 2013 . 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 filed on April 1, 2013,
together with this press release and the financial information contained
herein, are available on our website, www.merrimanco.com. Please click on
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At the Company:
Merriman Capital, Inc.
Chief Compliance Officer
Merriman Capital, Inc.
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information contained therein.
Source: Merriman Holdings Inc. via Thomson Reuters ONE
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