HARRISONBURG, Va., Nov. 30, 2016 (GLOBE NEWSWIRE) -- HeadsUp Entertainment International Inc. (PINKSHEETS:HDUP) ("HeadsUp") announces it has completed the sale of all its shareholdings in PokerVision Media Inc., to ePlay Digital Inc. (CSE:EPY). Under the terms of the agreement as executed by all the shareholders of Pokervision Media Inc., 100% of the shares of Pokervision Media Inc. were sold to ePlay Digital Inc. in exchange for 15,000,000 common shares in the capital of ePlay Digital Inc. HeadsUp has received one third of the total transaction's common shares, or an aggregate of 5,000,000 shares of the Canadian Securities Exchange listed company, e-Play Digital, as consideration for the prior transfer of its poker related assets to PokerVision Media, including the Canadian Poker Tour brand, Canadian Poker Player Magazine, it’s television library and various websites. The completion of the 5,000,000 ePlay Digital share issuance to HDUP represents the culmination of the asset sale that began as a management initiative in December of 2015. Standard escrow conditions relate to the shares acquired.
Management believes this transaction will allow for the assets to be monetized effectively through the ePlay Digital and PokerVision Media’s business model of developing and operating interactive broadcast and live video platforms with a goal of building next generation video and TV networks for sports and eSports. Next generation video and TV networks provide users with broadcast TV, live streaming, augmented reality, fantasy sports, and highly interactive social media for mobile engaged viewers and traditional media audiences. The PokerVision Network delivers content to consumers via new digital media as well as traditional television and other broadcast platforms.
“We are very encouraged about the completion of our deal with PokerVision Media and ePlay Digital and believe that their ability to build a vertically integrated media and event company will help create shareholder value for HeadsUp and allow for new business opportunities to be developed to launch the Fanlogic Daily Fantasy Sports platforms within their multi-platform network infrastructure,” stated HeadsUp CEO Randolph Brownell III.
About HeadsUp Entertainment International Inc.
HeadsUp Entertainment International Inc. owns Fanlogic’s complete social fantasy platform which provides in-game, daily, weekly, season-long, on-demand Fantasy Poker, eSports or event-driven fantasy games and promotions. Social, free to play fantasy games, for the purpose of customer acquisition and retention, is the core offering. HeadsUp partners with brand owners, media businesses and licensed gaming operators, to motivate and reward customers while building brand loyalty and revenues. The FanLogic software is built to protect consumer data, meet regulatory compliance, and ensure partner integrity. For more information go to www.headsupentertainment.com and www.fanlogic.com.
This news release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. When used in this release, words such as "estimate," "expect," "anticipate," "projected," "planned," forecasted" and similar expressions are intended to identify forward-looking statements, which are, by their very nature, not guarantees of HeadsUp Entertainment International Inc.'s future operational or financial performance, and are subject to risks and uncertainties. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Due to the risks and uncertainties, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
FOR FURTHER INFORMATION PLEASE CONTACT: HeadsUp Entertainment International Inc. Investor Relations – Jon Kann (403) 269-9039 Website: www.headsupentertainment.com
Source:HeadsUp Entertainment International Inc.