Press Releases
Parlay Entertainment Inc. Updates Shareholders on Potential Transactions Including a New Expression of Interest
OAKVILLE, ONTARIO — Feb. 15, 2008 — All amounts in Canadian Dollars
Parlay Entertainment Inc. (TSX VENTURE: PEI.V) ("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 bingo¹, 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.
Contact:
Scott F. White
Parlay Entertainment Inc.
President & CEO
+1 (905) 337-6505
David Callander
Parlay Entertainment Inc.
CFO
+1 (905) 337-6516
For more information on Parlay solutions and services, please visit our Web site at www.parlaygroup.com.
This document may contain statements about expected future events and/or financial and operating results of Parlay Entertainment Inc. that are forward-looking. 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.
The TSX Venture Exchange does not accept any responsibility for the adequacy or accuracy of this release.
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.
© 2010 by Parlay Entertainment Inc.