Best Places in the World to Retire Receives Additional Investment Capital
Tucson, Arizona, USA—March 19, 2012— Best Places in the World to Retire (the “Company”) has received an undisclosed amount of investment from three groups: two in Arizona and one in California. The investment was a combination of equity and two convertible notes, one due March 2016 and one due March 2017.
The investment round was over-subscribed, meaning that investors wanted to invest more than the Company requested. The Company believes that, when added to the investment already provided by management, no further investments will be required.
The investment capital will be used for continued website development, marketing and general administrative purposes.
About Best Places in the World to Retire
Funded and run by an experienced group of entrepreneurs and investors based primarily in Southern Arizona, BestPlacesintheWorldtoRetire.com is dedicated to providing the current or “almost” retiree with organized, unbiased, credible information about retiring abroad, all in an easy to use format. The three main areas of the site are: 1) Community Q & A, with thousands of answers to questions, provided by a community of experts; 2) Location Advisor, an interactive, fun and informative guide to the best places to retire, presented in a questionnaire format; and, 3) Expat Stories, where real expats tell their experiences. A section for Marketplace and Vendor Q & A is planned for release in the second quarter of 2013.
Vice President, Business Development