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LUK Pacific Lottery Corp Com

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Share Name Share Symbol Market Type
Pacific Lottery Corp Com TSXV:LUK TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Pacific Lottery Corporation Update

07/04/2009 3:38pm

Marketwired Canada


Pacific Lottery Corporation (the "Corporation") (TSX VENTURE:LUK)
(FRANKFURT:PCF) is pleased to provide the following corporate update. Recently
the Corporation completed a very successful site visit to Vietnam, which
included; major shareholder Genting International PLC, several current European
shareholders and investors as well as past and present members of the Board of
Directors. The delegation met with senior government officials and toured
lottery related government facilities, corporate offices and newly installed
retailer sites. The delegation expressed genuine excitement at witnessing the
Corporation's newly installed proprietary on-line lottery technology in
operation and hearing the positive reaction from the various front line
officials and retailers. The Corporation is committed to continuing to build
upon its initial stage one technical installation and implementation success.
Furthermore, the initial sales performance is within anticipated parameters and
the continuing steady growth pattern through this initial stage has the
Corporation excited about its upcoming fiscal year prospects. Therefore, the
Corporation has agreed to speed up its operational expansion plans in Vietnam,
which it is confident will lead to fiscal 2009 being a transformational year.


In a related development, the Corporation is pleased to announce that as a part
of its new rapid expansion program, it has arranged a non brokered financing of
CDN $ 1.98 million. Existing shareholder and Board member Mr. Richard W. DeVries
has agreed to subscribe to a Private Placement (through his company Oceanic
Greystone Securities Inc.) that includes a placement of 8.6 million units at
$0.11 each, consisting of one (1) common share and one (1) common purchase
warrant exercisable at $0.12 until April 3, 2014 for total gross proceeds of $
1.98 million CDN. Further, as part of this rapid expansion program, the
Corporation is pleased to advise that it is in advanced discussions with a
highly reputable Global Private Equity group working towards completion of an
additional $5 million CDN financing facility with combination debt / loans and
equity components. This new facility is expected to allow the Corporation even
faster expansion progress and quicker reaction to growth related activities in
Vietnam as well as in other potential markets for example in neighboring Laos
and Cambodia. The proceeds of these financings will be used for general working
capital purposes.


In other developments, the Corporation is pleased to announce that subsequent to
the recent approval of its securities listing prospectus in Germany, the
Corporation has filed an application through its listing partner, for its shares
to trade on the Entry Standard segment within the Open Market of the Deutsche
Borse (Frankfurt Stock Exchange). The Corporation expects Entry Standard trading
of its shares to begin on April 14th 2009 subject to the approval of Deutsche
Borse AG. Simultaneous XETRA trading will begin at that time, as well.


The following provides some basic information about the Entry Standard. Entry
Standard was launched as a segment within the Open Market (Regulated Unofficial
Market) On 25 October 2005, providing an alternative to EU-regulated segments
for companies seeking access to the capital market. Entry Standard is the
segment for companies wishing to position themselves more clearly on the capital
market and provide additional information. Transparency requirements in Entry
Standard include:


On the company website:

- publication of the audited consolidated financial statements and management
report (respective national accounting principles or IFRS) no later than six
months after the end of the reporting period


- publication of a brief, up-to-date profile of the company and a calendar of
company events


- publication of the interim report no later than three months after the end of
the first half


- immediate publication of significant company news or circumstances that may be
significant for the valuation of the respective stock/issuer


Trading surveillance on Entry Standard:

Shares in Entry Standard are insider securities. They are, thus, monitored by
the Federal Financial Supervisory Authority (BaFin) with view to the rules on
insider trading and market abuse. Price calculation is monitored by the Market
Surveillance Office (HuSt). The fulfillment of transparency requirements by the
companies in Entry Standard is monitored by the applicant trading member of the
Frankfurt Stock Exchange.


Additional information about Entry Standard is available on the website of
Deutsche Borse AG.


Finally, the Corporation has recently updated its website and including the
above has also added several new features such as a media room, which includes
access to corporately produced television commercials currently running on
Vietnamese state run television channels. Additional information will be added
to the website periodically as information becomes available and events warrant.


About Pacific Lottery Corporation:

Pacific Lottery Corporation is engaged in the provision of comprehensive
computerize on-line and mobile phone lottery technology and related professional
services for delivery to a growing audience of international customers. Today,
the Corporation exclusively leads the technical support activities for the only
authorised State run on-line lottery program in Vietnam.


SEC 12g exemption 82-4832

This release contains forward-looking statements within the meaning of the
Private Securities Litigation Act of 1995. Investors are cautioned that such
forward-looking statements involve risk and uncertainties, which could cause
actual results, performance or achievements of the Company, or industry results
to differ materially from those reflected in the forward-looking statements.
Forward-looking statements are based on the current expectations, projections
and opinions of the Company's management, and the Company undertakes no
obligation to publicly release the results of any revisions to such
forward-looking statements which may be made, for example to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.


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