VGPR (.04) Vega Update to Shareholders
Wednesday, June 25 2008 10:24 AM, EST
PR Newswire "US Press Releases "
LONDON , June 25 /PRNewswire-FirstCall/ -- VEGA PROMOTIONAL SYSTEMS, INC. (Pink Sheets: VGPR) today issued the following update to its shareholders.
The purpose of this letter is to update our shareholders with information concerning the business of the Company as we move forward.
As we have mentioned in the past, our Business Plan includes three individual business units; Software Services, Brand/Talent Agency , and Media Production Services. We are currently working on projects in each of these three areas.
Software Services. We are currently in negotiations to acquire an existing software development company that has developed unique proprietary software for the online gaming industry. This software will provide us with the necessary tools to develop the Vega Gaming Network where players from all over the world will play together on websites that have licensed the software from Vega. We anticipate closing this transaction within the next few weeks.
Brand/Talent Agency . We continue to work with professional poker personality, Bob Clark, a.k.a. Bob the Butcher to expand the BTB brand to new international markets. Future plans include the Butcher Poker Academy where players will learn to play both tournament poker and cash game poker. Bob will also be one of the online commentators for the Poker Tour of the Americas (PTA). Vega has licensed the trademarked name Bob the Butcher to ButcherPoker, LTD for use on their online gaming website. We are also working with other companies to expand their brands internationally and will provide updates as they become available.
Media Production Services. We recently announced the development of the Poker Tour of the Americas (PTA). The PTA is a series of poker tournaments held in locations in North and South America . The Tour, similar to the World Poker Tour, will be filmed for television and Vega will be the Executive Producer. As Executive Producer, we will own the content and will be responsible for selling the advertising for the programming. Rather than sell the idea to the network, we will purchase the necessary airtime to run the programming. The programs will be aired throughout North and South America and we will profit from the sale of advertising each time the programs are aired. More information about the PTA will be provided as it becomes available.
We want to thank our loyal shareholders for their continued patience and understanding during this time of growth and look forward to providing further information on the projects we are working on as we move forward.
Sincerely,
Michael Herron
CEO
About Vega Promotional Systems, Inc. :
Vega Promotional Systems, Inc. is a promotions and marketing company that is seeking complementary business opportunities that will allow it to increase its shareholder value. The Company's stock trades under the symbol VGPR on the pink sheets.
Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast," "project," "intend," "expect" "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (finance or operating) or achievements to differ from future results, performance (financing and operating) or achievements expressed or implied by such forward-looking statements.
SOURCE Vega Promotional Systems, Inc.
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