latest news releases from the newsroom
World Golf League, Inc.
The World Golf League Projects Reality Series Revenue
ORLANDO, Fla., July 11, 2005 (PRIMEZONE) -- The World Golf League, Inc. (OTCBB:WGFL) announced today that it expects to generate over $22,000,000 in revenue for the first two seasons of the Million Dollar Shootout. The network contract calls for the WGL to have 101.5 minutes of commercial time for sale per each 7-episode series. The WGL expects to generate $2,500,000 from commercial sales and sponsorships for the first season beginning January 23, 2006 and $8,200,000 from commercial sales and sponsorships for the second season in the fall of 2006. The balance of the revenue will come from network licensing fees both domestic and internationally for the second MDSO season.
Boliden's Tara Zinc Mine in Ireland Back in Full Production
STOCKHOLM, Sweden, July 11, 2005 (PRIMEZONE) -- Boliden's (TSX:BLS) zinc mine Tara in Ireland is now back in full production since the mill breakdown has been repaired. The effect on the operating results will be, as earlier reported, over SEK 40 million. The company will now be able to completely fulfil its contracted deliveries for the remainder of the year and therefore lifts its earlier declared partial Force Majeure.
GPS Industries, Inc
GPS Industries Receives $2 Million Financing
NEW YORK, July 11, 2005 (PRIMEZONE) -- GPS Industries Inc. (OTCBB:GPSN), a leading innovator of Wi-Fi wireless and GPS-enabled multimedia communications and management solutions for golf facilities, resorts, sporting events and residential communities, today announced that GPSI has received $2m financing, arranged through Norton Lane Advisors Limited. The announcement was made by Robert Silzer, Sr., President and CEO of GPSI.
Quest Oil Announces Acadia North 10-22 Gas Well Reaches Depth and Sets Production Casing
ARLINGTON, Texas, July 11, 2005 (PRIMEZONE) -- Quest Oil Corporation ("Quest" or the "Company") (OTCBB:QOIL) announces today that the drilling of the Acadia North 10-22-25-2W4M well has reached casing depth at 723.5 meters, which is three (3) meters above the Viking sand reservoir. The Company has authorized the Operator to set production casing and cement it in to bore hole. Once production casing is set, this will complete the drill program and the rig will tear out and move to the next location, Acadia 15-34. The Acadia well 15-34-25-2W4M has a scheduled spud date of July 17th, 2005. Once the Acadia 15-34 well has been drilled and cased, the two holes will be logged through casing and immediate requisition of an Endless Tubing Unit will move on site and drill out both wells to completion and tie-in.
Dragon Venture Announces That It Has Completed Acquisition of 51 Percent Ownership of Shanghai Fomde Information Technology Company, Limited
FORT LAUDERDALE, Fla., July 11, 2005 (PRIMEZONE) -- Dragon Venture (Pink Sheets:DRGV), a holding company of high-tech companies in China, reports today that its subsidiary, Shanghai Yazheng Information Technology Company, Limited, has completed the acquisition of 51% ownership of Shanghai Fomde Information Technology Company, Limited ("Fomde") via a stock exchange. The purchase was completed with restricted shares of DRGV, priced at $0.08 per share, that were issued to acquire the 51% ownership on the basis of 51% of net tangible assets of Fomde ended June 30, 2005. In 2004, Fomde generated approximately $3 million in sales with $0.6 million in net come.
WayPoint Biomedical, Inc.
WayPoint Biomedical Acquires First Sales Order Contract for The Drink Detective from Florida Based Drug Screen Solutions
HUNTINGTON BEACH, Calif., July 11, 2005 (PRIMEZONE) -- WayPoint Biomedical Corporation (Pink Sheets:WYPB) has booked its first sales contract with Florida based Drug Screen Solutions, for WayPoint's flagship product, The Drink Detective(tm) drink spiking drug detection kit. Drug Screen Solutions (www.drugscreensolutions.com) will market the product via their e-commerce website, as well as through their professional sales network into Florida nightclubs, beverage distributors, colleges/schools, retail chains, and government/law enforcement agencies.
Volvo Aero Norge AS Selected as Supplier to Joint Strike Fighter (JSF)
GOTEBORG, Sweden, July 11, 2005 (PRIMEZONE) -- Volvo Aero Norway has today entered an agreement with Pratt & Whitney to produce the intermediate case for the F135 engine for the Joint Strike Fighter. This component will be produced in addition to the low-pressure turbine (LPT) shaft, which Volvo Aero Norway already produces for the F135 engine.
Lantronix and its Customers Presented With M2M Magazine Value Chain Awards
IRVINE, Calif., July 11, 2005 (PRIMEZONE) -- Lantronix, Inc. (Nasdaq:LTRX) today announced that two of its customers, Christie Digital Systems, Inc. and Honeywell (NYSE:HON) Security and Custom Electronics were awarded M2M Magazine's Value Chain Awards in both the manufacturing and professional services categories respectively. As the only company winning two awards, Lantronix was recognized as the solution provider enabling the successful implementation of both companies' products. Chosen by industry analysts and M2M Magazine editors, the Value Chain Award winners were announced at the M2M United Conference in Chicago on June 28, 2005.