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Single Touch Systems Completes $6.1 Million Financing

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  Published in Science and Technology on Friday, July 16th 2010 at 15:40 GMT by Market Wire
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SAN DIEGO--([ BUSINESS WIRE ])--Single Touch Systems, Inc. (OTCBB: SITO), a mobile marketing solutions provider, today announced that it has raised $6.1 million in funding from existing, new institutional and angel investors. This new investment will be used to expand the companya™s growth initiatives relative to its proprietary Enhanced Services Platform.

"Over the past two and a half years, wea™ve been in a massive scale of development and now with this financing complete, we are well capitalized, well positioned and poised for growth"

aOver the past two and a half years, wea™ve been in a massive scale of development and now with this financing complete, we are well capitalized, well positioned and poised for growth,a said Anthony Macaluso, Chairman and CEO of Single Touch Systems, Inc. The Company expects its messaging numbers to increase significantly through its proven Enhanced Services Platform, a platform capable of sending billions of messages annually. aWe anticipate launching hundreds of new retail locations as we continue building a retail messaging super highway for retailers to communicate with mobile phone users.a Anthony Macaluso added, aWe would like to thank Gar Wood Securities for their continued assistance and support in bringing investors to this round of financing.a

About Single Touch Systems

Single Touch Systems, Inc. (OTCBB:SITO) provides wireless operators, consumer brands, and retailers with innovative mobile marketing and commerce delivery solutions. Single Touch Systemsa™ powerful portfolio of voice, data, SMS and commerce products are delivered via its patented Enhanced Services Platform (ESP). Single Touch Systemsa™ pioneering products are designed to be simple and easy to use and its Mobile Dialing Codes (MDCs) have won several industry awards for innovation and direct response. For more information please visit [ www.singletouch.net ].

Forward-Looking Statements:

Under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to, certain delays beyond the companya™s control, inability to successfully conclude negotiations currently in progress, and other risks detailed from time to time in the Companya™s filings with the Securities and Exchange Commission.