(2007-04-19) Gaming News: Gaming Industry Growth Stock (WNED) To Merger With Mobile Gaming And Gam
Gaming industry sector leader announces merger agreement with online and mobile gamin
LAS VEGAS, NV -- Winning Edge International, Inc. (Stock Symbol: WNED) and ProGames Network, a subsidiary of broadband telecommunications services company MobilePro Corp. (Stock Symbol: MOBL), have announced a definitive merger agreement signing. The acquisition is expected to be completed on before April 30, 2007.
As part of the merger agreement Winning Edge (WNED) shareholders will retain all their common stock and receive a 6 for 1 preferred stock dividend valued at $10,000,000. Also ProGames will arrange $2,200,000 in financing for the new combined company.
Martin Gray, CEO and president of ProGames, will serve as CEO of the combined entity. Chairman of MobilePro Corp. (Stock Symbol: MOBL), Jay Wright, will serve as chairman of the newly combined public company. He has led MobilePro from $0 revenue to nearly $100 million in revenues and expanded the company
About Us: America's only publicly traded sports handicapping company, Winning Edge (Stock Symbol: WNED) develops and markets sports handicapping advice and information via television, radio and Web-based content related to sports and gaming.
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