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WGL Entertainment Holdings, Inc. Approves a 200 to 1 Reverse Split Effective February 25, 2008
WGL Entertainment Holdings, Inc. Approves a 200 to 1 Reverse Split Effective February 25, 2008
By: Marketwire .
Feb. 25, 2008 12:00 PM
LAKE MARY, FL -- (MARKET WIRE) -- 02/25/08 -- WGL Entertainment Holdings, Inc. (PINKSHEETS: WGLT) announced today that its board of directors has approved a 200 to 1 reverse split effective February 25, 2008. The new trading symbol will be (PINKSHEETS: WEHI) effective immediately. The common shares outstanding will go from approximately 5 billion to 2,500,000. "To coincide with a major distribution deal for the WGL Million Dollar Shootout reality television series which will be announced this week, the board felt it would be in the best interest of all our loyal shareholders to bring new investors to the table and substantial market maker support to produce the most effective long term value for our shareholders. Also, WGL Entertainment Holdings, Inc. will soon be closing a new $6,000,000 funding package to support future growth and productions," said Mike Pagnano, CEO WGL Entertainment Holdings, Inc. "2008 is off to a very exciting start and will bring our franchise brand ('MDSO') and future productions to the next level." WGL Entertainment Holdings, Inc., through its subsidiary WGL Entertainment, is the producer of the WGL Million Dollar Shootout Reality Television Series and several other made for T.V. sports entertainment events scheduled to be produced in 2008 and beyond. 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.
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