Infinium Labs Responds to Misleading Statements Made by SBI-USA, LLC in News Release

Infinium Labs Responds to Misleading Statements Made by SBI-USA, LLC in News Release

CEO Timothy Roberts Says SBI-USA's Lawsuit `Entirely Without Merit'

SARASOTA, Fla., Nov. 30 /PRNewswire-FirstCall/ -- Infinium Labs, Inc. (BULLETIN BOARD: IFLB) announced today that it has reviewed the press release issued by SBI-USA, LLC, but has not received the legal complaint purported to be filed by SBI. Infinium categorically denies each and every allegation in the SBI press release and believes SBI's lawsuit to be frivolous, without merit, and intended to interfere with Infinium's business and operations.

"This lawsuit is entirely without merit and SBI's news release misstates the now-terminated agreement between the parties as well as the amounts raised by the Company, which are set forth in our public filings for the benefit of our investors. Infinium's agreement with SBI provided that SBI would be paid, under certain circumstances, for investments made by parties with whom SBI had a pre-existing substantive relationship. SBI was wholly unsuccessful in its efforts and was unable to raise any funding whatsoever from such investors. As a result, Infinium terminated its agreement with SBI," said Timothy M. Roberts, Infinium's CEO.

"The Company will vigorously defend itself from these meritless allegations, and will consider all remedies available to it, including all counterclaims and causes of action arising from the lawsuit and the issuance of this inaccurate and malicious news release," added Roberts.

About Infinium Labs

Based in Sarasota, Fla., Infinium Labs (BULLETIN BOARD: IFLB) is in development of The Phantom Game Service, the first end-to-end, on-demand game service. Delivered over broadband, the Phantom Game Service will offer casual and avid gamers a broad library of titles, available anytime, day or night, from the comfort of their living room.

Infinium Labs is led by a management team with extensive experience in interactive media, entertainment, broadband services, technology and video games. For more information, please visit http://www.phantom.net/.

Safe Harbor Statement

Certain statements included in this press release may constitute forward- looking statements. Actual results could differ materially from such statements expressed or implied herein as a result of a variety of factors including, but not limited to: the development of the Infinium Labs technology, the successful marketing and distribution of the Phantom Gaming System, acceptance by the market of Infinium Labs, products and technology, competition and timing of projects and trends in the gaming industry, as well as other factors expressed from time to time in filings Infinium Labs will make with the Securities and Exchange Commission (the "SEC"). As a result, this press release should be read in conjunction with periodic filings Infinium Labs makes with the SEC. The forward-looking statements contained herein are made only as of the date of this press release, and Infinium Labs undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

Media Contact for Infinium Labs: Investor Contact:
Ivan Peill James Roberts
Capital MS&L Infinium Labs
(212) 468-4264 (941) 556-8004
ivan.peill@mslpr.comjroberts@phantom.net

This release was issued through eReleases(TM). For more information, visit http://www.ereleases.com/.


Source: Infinium Labs, Inc.

CONTACT: Ivan Peill, Capital MS&L, +1-212-468-4264,
ivan.peill@mslpr.com, for Infinium Labs; or Investor Contact: James Roberts,
Infinium Labs, +1-941-556-8004, jroberts@phantom.net

Web site: http://www.phantom.net/


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