Parlay Entertainment Inc. Updates Shareholders on Potential Transactions Including a New Expression of Interest
15 Février 2008 - 2:15PM
Marketwired
OAKVILLE, ONTARIO ("Parlay" or the "Company"), announced today
that it has now received three expressions of interest from parties
interested in conducting due diligence which could result in a
possible purchase of all of the issued and outstanding shares of
the Company.
Parlay announced that its data room, which was established at
the offices of its solicitors and which is now available on a
virtual basis, will remain accessible to parties interested in
conducting due diligence over the next two weeks. The Company has
commenced negotiations with these parties and will entertain
binding offers to purchase all of the issued and outstanding shares
of the Company by the end of February 2008.
There can be no assurance that any agreement will be entered
into as a result of the negotiations around any expression of
interest received by the Company, nor can there be any assurance
that any proposed transaction will be completed or approved by the
shareholders of Parlay.
About Parlay Entertainment
Parlay Entertainment Inc. is the world's leading developer and
licensor of Internet bingo software. As the inventor and patent
holder of Internet bingo(1), Parlay is the first company in the
world to develop and deploy a commercial Internet bingo product.
Parlay bingo is available in both 75-number and 90-number versions
and is complemented by a full suite of lottery and casino games.
Our multi-player, multi-platform technology is used to power more
online bingo sites than any other software provider in the world.
Some of the world's best known brands use Parlay Bingo solutions,
including Virgin, Yahoo!, MSN and Littlewoods Gaming. Parlay is
headquartered in Oakville, Canada with offices in Bridgetown,
Barbados, and Valletta, Malta.
For more information on Parlay solutions and services, please
visit our website at www.parlaygroup.com.
This document may contain statements about expected future
events of Parlay Entertainment Inc. that are forward-looking
including the proposed transaction. By their nature,
forward-looking statements require the Company to make assumptions
and are subject to inherent risks and uncertainties. There is
significant risk that predictions and other forward-looking
statements will not prove to be accurate. Readers are cautioned not
to place undue reliance on forward-looking statements as a number
of factors could cause actual future results, conditions, actions
or events to differ materially from the targets, expectations,
estimates or intentions expressed in the forward-looking
statements.
(1) United States Patent No. 6,585,590 "Method and system for
operating a bingo game on the internet", with other Patent
applications pending in other countries.
The TSX Venture Exchange does not accept any responsibility for
the adequacy or accuracy of this release.
Contacts: Parlay Entertainment Inc. Scott White President &
CEO (905) 337-6505 Email: swhite@parlaygroup.com Parlay
Entertainment Inc. David Callander CFO (905) 337-6516 Email:
dcallander@parlaygroup.com Website: www.parlaygroup.com
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