Local Corporation Files Shelf Registration Statement
Intended to Replace Recently Expired Shelf Registration Statement
IRVINE, Calif. -- June 2, 2014
Local Corporation (NASDAQ: LOCM), a leading local advertising technology
company, today announced that it has filed a new shelf registration statement
with the Securities and Exchange Commission.
Once effective, this shelf registration would allow the company to issue
various types of securities, including common stock, preferred stock, debt
securities, and warrants, from time to time, up to an aggregate of $40
million. The new shelf registration replaces the company’s prior shelf
registration, which expired in April of 2014.
“We believe that replacing our expiring shelf registration will allow us
continued financial flexibility, if and when a need or opportunity should
arise,” said Fred Thiel, Local Corporation chairman and CEO. “We presently
have no plans to offer any securities under the shelf registration, or
otherwise, but we believe it is prudent to always be prepared.”
A registration statement relating to these securities has been filed with the
Securities and Exchange Commission, but has not yet become effective. These
securities may not be sold nor may offers to buy be accepted prior to the time
the registration statement becomes effective. This press release shall 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.
About Local Corporation
Local Corporation (NASDAQ:LOCM) is a leading local advertising technology
company that connects millions of online and mobile consumers with businesses
and products through a variety of innovative digital advertising solutions.
The company’s patented Krillion® local shopping platform aggregates, localizes
and distributes dynamic, national and regional retail shopping content, from
approximately 120,000 store locations, representing nearly 3 million localized
products. For more information, visit: http://www.localcorporation.com or
http://www.krillion.com. To download the company’s iOS® 7-compatible Havvit™
shopping app, go to: iTunes® (http://bit.ly/1d8Y111).
Forward Looking Statements
This press release contains certain forward-looking statements that are based
upon current expectations and involve certain risks and uncertainties within
the meaning of the U.S. Private Securities Litigation Reform Act of 1995.
Words or expressions such as "anticipate," "plan," "will," "intend," "believe"
or "expect'" or variations of such words and similar expressions are intended
to identify such forward-looking statements. These forward-looking statements
are not guarantees of future performance and are subject to risks,
uncertainties, and other factors, some of which are beyond our control and
difficult to predict and could cause actual results to differ materially from
those expressed or forecasted in the forward-looking statements. Key risks are
described in the filings we make with the U.S. Securities and Exchange
Commission. The forward-looking statements in this release speak only as of
the date they are made. We undertake no obligation to revise or update
publicly any forward-looking statement for any reason.
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Kirsten Chapman, 415-433-3777
Cameron Triebwasser, 949-789-5223
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