Fortuna Closes First Round Financing

LAS VEGAS – (PRESS RELEASE) -- Fortuna Gaming Corp., (OTC Bulletin Board: FGAM) announces the successful closing of its first round financing of $1,700,000 USD. This round was offered to accredited investors in the U.S. and consisted of 1,700,000 units at a price of $1.00 USD per Unit, each unit consisting of one share of Common Stock and one Warrant to purchase one share of common stock at a price of $2.00 USD, exercisable for 24 months from the closing of the offering.

The Company is using the proceeds to develop and execute its business plan, acquire gaming software for its mobile and wireless gaming platform, set up the gaming and corporate web sites, set up its UK-based operating subsidiary, Fortuna Gaming (UK) Limited, headquartered in London, England, secure investor relations and PR services, cover initial marketing costs and provide working capital for the Company.

The Company is now offering its second round financing of a maximum of 10,000,000 Units at a price of $1.00 USD per Unit for a total raise of $10,000,000 USD. Each Unit consists of one share of Common Stock and one Warrant to purchase one share of common stock at a price of $2.00 USD, exercisable for 24 months from the closing of the offering. This offering is made pursuant to Regulation S and Regulation D of the United States Securities Act of 1933 and is being offered to accredited European and North American investors and institutions.

The Company, formerly known as MoneyFlow Capital Corp., commenced its operations in June 2005, at which time the Company rescinded its interests in the financial services sector, and turned its attention to the online and mobile gaming business. As a result of the rescission of its interests, the Company stock price moved from a pre-split price of approximately $8.00 per share to a current price of approximately $1.00 per share.