September 21, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Global Pari-Mutuel Services, Inc. (OTC: GPRM) , a pari-mutuel gaming and wagering services provider, said that it has completed a $700,000 financing led by Bermase, LLC, a private investment company.

Under the terms of the financing, Global Pari-Mutuel issued and sold to Bermase a 9% senior secured convertible promissory note due September 15, 2011, $400,000 principal amount; warrants to purchase 7,000,000 shares of the company's common stock at exercise prices ranging incrementally from $0.50 to $3.00; and 1.2 million shares of Global Pari-Mutuel common stock, at a purchase price of $0.20 per share.

Global Pari-Mutuel also issued and sold an aggregate of 300,000 shares to other investors for additional aggregate consideration of $60,000.

In connection with the investment by Bermase, Global Pari-Mutuel also increased the size of its board from four to seven members and caused Robert A. Berman, Joel A. Asen and Michael M. Michigami to be appointed as directors upon Bermase’s nomination.

Global Pari-Mutuel and Bermase also entered into long term collaboration agreements on September 15, 2010 relating to the development of new proprietary technology relating to the company's pari-mutuel trading hub, which the Company and Bermase anticipate launching in the fourth quarter of 2010.

Arizona-based Global Pari-Mutuel Services is focused on deploying technology and providing services designed to facilitate pari-mutuel wagering over the Internet and through international call-centers and physical off-track-betting facilities.

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