The World Hockey Association to File Substantial Fraud and Conspiracy to Defraud Claims on April 18th Against Global Developments, Inc., Nexus Asset Holdings, LLC, The Briner Group, and Related or Associated Parties; John D. Briner, Esther Briner, Erwin Liem, Jason Ashdown, Reighardt Van Enter and Others
VANCOUVER, BC, Apr 13, 2007 (MARKET WIRE via COMTEX) -- The World Hockey Association (PINKSHEETS: WHKA) announced today that it will file substantial damages claims on April 18, 2007 against multiple parties associated or affiliated with The Briner Group, Global Developments, Inc. (a Delaware Corp.), and Nexus Asset Holdings, LLC (a Texas Corp.).
In response to numerous inquires from its shareholders and the hockey community at large, the WHA has decided to release the following information regarding the litigation occurring in US Federal Court in Nevada.
1. The WHA will file an answer to the original complaint filed by Nexus Asset Holdings LLC and Global Developments, Inc. denying all allegations set therein.
2. The WHA will file fraud and conspiracy to defraud counterclaims for damages against the same parties as well as a number of additional defendants associated or affiliated with the Briner Group, including but not limited to: John D. Briner, Esther Briner, Erwin Liem, Jason Ashdown, Reighardt Van Enter, Otcfilers.com and parties presently unnamed. Other allegations will also be filed.
3. The WHA believes the damages to the company, its stock, its shareholders, and the hockey league it operates to be in excess of one hundred million dollars ($100,000,000.00 US) and will ask the court for remedy including but not limited to the return to the WHA of all shares issued to the parties named in the suit or to entities over which they were found to have exercised control. The WHA will also ask for substantial monetary damages to be awarded.
4. The WHA believes the fraudulent actions taken by the parties named to the suit to have approximately begun in June of 2006 and to have ran through March of 2007.
WHKA CEO Ricky Smith commented, "We have received so many inquiries concerning this matter that we felt it was time to inform all those interested in the issue as to what course of action we will take. Our Company has suffered substantial damages from the preposterous chain of events that began the day we started dealing with John D Briner, his associates and some of his associated enterprises. We have always said we would act against the aggression perpetrated against us and come next Wednesday, the world will see to what extent we will act."
Smith continued, "We want to get this legal issue story behind us eventually as our real emphasis is on hockey. All Bobby Hull, Gary Unger and I have ever wanted to do with the WHA was bring a great hockey league to the youth of Canada and the US. We want to proceed with the hockey program our shareholders and fans both expect and deserve. I might add that we have some very big hockey announcements to make in the near future."
About the World Hockey Association:
The WHA created the WHA Junior West Hockey League to promote the sport of hockey. The Junior West Hockey League is an alternative, community based league for highly skilled junior players, and is designed to promote high standards of sportsmanship in hockey. The 2007-2008 season will feature an expansion from six to 16 teams and will see the WHA firmly established in British Columbia, Alberta and the Northwestern United States.
As a listed company on the Over-The-Counter Pink Sheets our mission is to provide a financially sound economic model that is responsible to WHA investors, coaches and staff, and the junior hockey players participating on each team. Fan satisfaction is a primary consideration in our decision making process.
Forward-Looking-Statements
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors affecting the company's operations, markets, products and prices and other factors discussed in the company's various filings with the Securities and Exchange Commission.
CONTACT: V. Ackland 416-996-1789
SOURCE: World Hockey Association
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