Riggs Ventures West Africa Limited Secures Naira1.5bn Private Placement Equity Line Facility

Online, November 9, 2010 (Newswire.com) - The Board of Riggs Limited Ventures West Africa is pleased to advise that the Company has secured a commitment for an Naira 1.5bn Equity Drawdown Facility with Cayman base Equity Partners Fund SPC.

This transaction was facilitated by the Singapore based FMS Group (www.fmspte.com) and Australian corporate advisory firm Stepping Stone Equity (www.steppingstoneequity.com.au).

Riggs Ventures West Africa Limited (formally Riggs Security Limited) is a limited liability company incorporated on the 13th of July 1990 (RC 225899) and commenced operation on 1st of April. It started business as a financial management services company to service an identifiable gap in both structured and informal aspects of financial sector, and also as a commodities trading company.
The Company, since incorporation, has been involved in many aspects of the financial sector of the economy - the money market, the capital market and the foreign exchange market both locally and internationally. Over the years, the company has diversified its business interests to cut across activities in Sacks Manufacturing, Haulage and Logistics, Medium/Micro Financing and Bureau De Change Services.

About EP FUND

Equity Partners Fund SPC is a Cayman Islands fund established by its principals in the Cayman Islands as an exempt entity under the Securities Investment Business Law ("SIBL"). It is a segregated portfolio company ("SPC") and has several portfolio companies ("PC") through which it makes investments in companies on a global basis.

Equity Partners Fund SPC has no outside investors and is considered a private fund run by its principals, similar to a merchant bank that invests its own capital. Unlike a hedge fund, which has significant regulatory burdens exposing its investors to significant risks, Equity Partners Fund SPC is able to act quickly, is more flexible when it comes to structuring an investment and has less regulatory burdens. The objective of the EP Fund is to seek capital appreciation through investments, directly and indirectly, in private and publicly traded international securities. EP Fund focuses on equity investments in public companies with market capitalizations under one billion, as well as private companies that will be listed on a securities exchange within six months of a funding commitment.