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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.