Betbrokers plc Submits Letter of Intent to Purchase Las Vegas-based Winning Edge International, Inc.
25 May 2007 - 3:11AM
Business Wire
Winning Edge International, Inc. (WEI) (OTCBB: WNED) has received a
Letter of Intent from Betbrokers plc (AIM-London: BETB), publicly
traded on the London AIM exchange (BETB), to acquire all of the
operating assets of WEI for $6.5 million in Betbrokers stock. The
Winning Edge Board has approved the Letter of Intent and, pending
financing to retire existing debt, has directed management to
complete due diligence and a definitive purchase agreement to
present to Winning Edge shareholders. Chairman of Betbrokers, Wayne
Lochner, stated, "The acquisition of Winning Edge International is
a major step in our global growth strategy. It provides us a
high-profile United States presence and brings us the expertise and
tools to rapidly expand the Winning Edge business model into
Europe. A key component of this transaction is the addition of
Wayne Allyn Root as a part of our Betbrokers global expansion
strategy. Wayne, who will become a key member of our management
team, has the name recognition, skills and experience as a
television host and spokesman to be invaluable in helping us
produce and create gaming programming and build databases of
gamblers in the UK and throughout the world. Our combined talents
and experience will allow us to build sports handicapping web sites
first in the UK, and then globally to provide winning advice on
international sports such as soccer, cricket, rugby and
horseracing. The addition of Wayne and the Winning Edge team and
assets greatly enhances both the near- and long-term future of
Betbrokers.� Wayne Allyn Root added: "My goal for Winning Edge has
always been to build a global brand leader and expand our
handicapping advice to international sports. Joining with
Betbrokers gives Winning Edge and its shareholders that
opportunity. With their UK gaming experience, we will be well
positioned to roll out the Winning Edge business model globally and
to expand our brands into the legal gaming arena for non-American
bettors.� About Betbrokers Plc Betbrokers is the world's first
independent betting brokerage, providing punters, bookmakers, and
other organizations an efficient way to access the wide range of
prices & propositions within the modern gambling market.
Betbrokers began placing bets on behalf of clients in September
2005. The service operates from a brokerage trading room in the
heart of London's new financial district, Canary Wharf. Our brokers
are trained experts and have been recruited from both the gambling
& financial markets. About Winning Edge International, Inc.
Winning Edge International, Inc. is America's only publicly traded
sports handicapping company. Winning Edge International, Inc.
specializes in developing and marketing sports handicapping advice
and information via television (Wayne Allyn Root's WinningEDGE �),
radio and the Internet (www.WinningEDGE.com) and
(www.ewinners.com). The Company produces high-quality sports and
gaming entertainment programming and sells advertising and
sponsorship opportunities on their TV and radio properties, as well
as marketing opportunities to an exclusive database of more than 1
million predominantly male sports and gaming fans. All statements
included in this press release, other than statements of historical
fact, are forward-looking statements. Although Management believes
that the expectations reflected in these forward-looking statements
are reasonable, it can give no assurance that such expectations
will prove to have been correct. Important factors could cause
actual results to differ materially from the expectations that are
disclosed in this press release. While Winning Edge International,
Inc. believes its forecasting assumptions are reasonable, there are
factors that are hard to predict and influenced by economic and
other conditions that are beyond Winning Edge International, Inc.'s
control. Among the other important factors which could cause actual
results to differ materially from those in the forward-looking
statements are detailed in Winning Edge International, Inc.'s
filings with the Securities and Exchange Commission.
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