WHKA's response to Briner's GDVM PR:
The World Hockey Association Responds to Monday's Press Release Issued by Global Developments, Inc.
Apr 23, 2007 3:59:00 PM
VANCOUVER, BC -- (MARKET WIRE) -- 04/23/07 -- The World Hockey Association (PINKSHEETS: WHKA) wishes to issue the following response to the most recent statement attributed to Global Developments, Inc. (PINKSHEETS: GDVM).
1) The contact phone number listed on the GDVM press release is answered by The Briner Group at John D Briner's offices on Hastings Street in Vancouver. This should lead one to an opinion that any claims Global may have made in the past that John D Briner is no longer the prime decision maker at Global Developments, Inc. could be construed as misleading.
2) The legal matter of K-1 Sportswear vs. WHA in Minnesota does not concern the present management of the WHA nor its Florida Corporation. It appears to have been an issue concerning the previous owners of the WHA and the current World Hockey Association is not liable for any unpaid bills they may have had. Any statement made by The Briner Group or Global Developments to the contrary is false and misleading.
3) Arrangements have been made to pay the City of Osoyoos in British Columbia for all past due bills. These arrangements have been made through the Parks and Recreation Board at the Mayor's offices. This is similar to the same arrangements which have been made to all the cities who are owed money by the WHA for ice time bills accumulated during the 2006-2007 hockey season.
4) The City of Osoyoos has invited the WHA back for the 2007-2008 hockey season. Any statement made to the contrary by The Briner Group and/or Global Developments, Inc. is false and misleading.
5) Concerning the allegation that WHA CEO Ricky Smith joked about the plummet of the price of WHKA stock; any such suggestion is preposterous on its face. The past actions of John D Briner and his Briner Group associates are now the subject of counterclaims filed in a US Federal Court in Nevada which the WHA believes will prove damages which exceed 100 million dollars were suffered by the company and shareholders.
6) Global Developments, Inc. appears to have issued the same press release three times in the past five days. The WHA believes this may have been done to attempt to manipulate the price of WHKA stock. One of the company's claims against the counter-defendants in the case in Nevada is for stock manipulation.
7) One of the company's requests for relief to the Federal Court for Nevada is that any stock currently or formerly held by the counter-defendants and third party defendants be returned to the WHA. Any such manipulative attempts to create a decline in the price of the company's stock price with the purpose of making any stock buy-back on the part of defendants to become less expensive could further add to the damages already suffered by the company.
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
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