Sungold International Holdings Corp. today announced that a
Letter of Intent has been signed with Beachfront Enterprises LLC, a
California company, to host the Horsepower 8 World Pool Lottery online
site for International wagering.
The Letter of Intent grants Beachfront Enterprises, LLC the
Exclusive Right to host the International wagering site in exchange for
a two million dollar licensing fee, and a further commitment to invest
one million dollars in initial advertising costs leading up to the
Horsepower 8 World Pool launch. The License will entitle Beachfront
Enterprises LLC to fifty per cent of net profits from Horsepower 8
World Pool Lottery international wagering on their Internet site, and
share consideration comprised of 850,000 common shares and 500,000
warrants of Sungold International Holdings Corp.
"We are extremely pleased with this arrangement," said Keith
Blackwell, CEO of Sungold(R). "We are confident we have found the ideal
partners for the international operation of our principle product,
Horsepower 8 World Pool Lottery. The key executives, Dr. Mark Songer
and Rob Shively, have backgrounds and credentials that are most
impressive and of the highest integrity."
Dr. Mark Songer PhD, MS, Chairman and CEO, recently served for
three years as Commission Chairman for the Soboba Gaming Commission,
ensuring regulatory compliance within Federal and State laws. Prior to
that, Dr. Songer served as a Special Agent of the FBI and Forensic
Examiner in both Washington D.C. and Los Angeles, following service in
the United States Marine Corps.
Rob Shively, Chief Marketing Officer, has an extensive
background in Marketing, Corporate Development and New Product
Development with several Fortune 500 companies. He helped launch Fox
Sports and their NFL, MLB and NHL franchises, and assisted Boeing to
launch their first consumer product in conjunction with British Airways
and Lufthansa. In 2004 he was nominated as the Ernst & Young
Entrepreneur of the Year.
"We believe the Horsepower 8 World Pool Lottery is an exciting
opportunity," said Mark Songer, "and look forward with enthusiasm to
working with the Sungold team in introducing its life changing
opportunities to the world markets outside of North America."
About Sungold International Holdings Corp.:
Sungold(R) is in the business of developing entertainment and
e-commerce business in Canada, USA and internationally. Sungold(R) has
three 100% wholly owned subsidiaries: Horsepower Broadcasting Network
(HBN) International Ltd., Racing Unified Network (R.U.N.) Inc. and
SafeSpending Inc. Sungold(R) controls the technology, source codes,
trademarks, patents, copyrights and the worldwide title, rights and
interest in each of the wholly owned subsidiaries. Sungold(R) also
holds a 38% interest in Silks Media Corporation which publishes
ThoroughbredStyle Magazine. Sungold(R) is a fully reporting public
corporation trading as SGIHF-OTCBB.
Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995: The statements in this press release that relate to
the Company's expectations with regard to future impact on the
Company's results from new products in development are forward looking
statements, within the meaning of the Private Securities Litigation
Reform Act of 1995. Such information may contain statements that
involve risks and uncertainties and is subject to change, at any time.
The Company's results may differ materially from expected results.
Information on the factors, which could affect the Company's operations
or financial results, is included in the Company's reports on file with
Canadian securities regulatory authorities and the United States
Securities and Exchange Commission.
FOR FURTHER INFORMATION PLEASE CONTACT:
McDerMedia, Inc.
John McDermott
Public Relations
1-888-SUN-INTL
