The WGL Forms WGL Entertainment, Inc.
Monday October 3, 7:00 am ET
ORLANDO, Fla., Oct. 3, 2005 (PRIMEZONE) -- The World Golf League, Inc. (OTC BB:WGFL.OB - News) announced today that it has incorporated a wholly owned subsidiary named WGL Entertainment, Inc. (WGLE). WGL Entertainment will create, produce and market sports entertainment content for television distribution. Several projects are scheduled for airing in 2006, including the WGL Million Dollar Shootout reality television series. WGLE expects to begin production of two unique new sports entertainment projects as soon as November 2005.
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``WGLE is a natural progression for the WGL and the business model now being executed,'' said Mike Pagnano, CEO of The WGL, Inc. ``WGLE will also allow us to deliver additional value to our shareholders and various options to reduce our outstanding shares and improve market capitalization,'' Mr. Pagnano went on to say.
The World Golf League markets a professional golf concept, through wholesale distribution channels in the USA, which allow average golfers to play for substantial prize money in local and regional tournaments, culminating with a PGA-style national championship. The WGL also produces the WGL Million Dollar Reality Television Series. The WGL has paid over $1,000,000 in prize money to date.
To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. Other important factors that could cause actual results to differ materially include the following: business conditions and the amount of growth in the Company's industry and general economy; competitive factors; ability to attract and retain personnel; the price of the Company's stock; and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K. The Company takes no obligation to update or correct forward-looking statements.
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