Local Corporation Files Shelf Registration Statement

IRVINE, Calif.--(BUSINESS WIRE)--

Local Corporation 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 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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