ORLANDO, Fla., Nov. 16, 2004 (PRIMEZONE) -- The World Golf League, Inc. (OTCBB:WGFL) announced today that it has reached several milestones, which will greatly enhance its ability to reach its business and financial goals for 2005. The wholesale sales channel has closed over $12,000,000 in sales, which will be realized in the 1st and 2nd quarter of 2005. Secondly, The WGL Inc. is putting the finishing touches on its negotiations for the production and airing of its reality based television concept. The reality series which is expected to air in 1st and 2nd quarter 2005 is estimated to generate over $20 million in revenues its first year.
"We are very proud of our accomplishments to react to the ever changing needs of our marketplace and implement the strategies that will best fit our strategic goals over the long term," said Mike Pagnano, CEO of The WGL, Inc. "Investor confidence remains our near term primary objective, as we implement our strategic plan to deliver the financial results which will produce the sound fundamentals the investor community demands," Mr. Pagnano went on to say.
The WGL markets a professional golf concept in the USA and 27 international venues, which allow average golfers to play for substantial prize money in local and regional tournaments culminating with a PGA-style national event and world championship.
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.