BLOOMINGTON, Minn., April 24, 2006 (PRIMEZONE) -- DTLL, INC ("DTLL") (OTCBB:DTLI) announced today that it has increased its exchange offer for Grand Sierra Resorts Corporation ("GSR") (www.grandsierraresort.com) to include $25 million in cash to be paid to the GSR shareholders.
The GSR shareholders would now be offered one DTLL common share for every fifteen GSR common shares and, in addition, for every GSR common share a payment of $0.15 per share in cash. Island Residences Club has agreed to amend its agreement to exchange its GSR interest for cash and common stock.
The DTLL offer to the GSR shareholders has been extended until May 9th, 2006.
When the acquisitions are completed next month, The DTLL Companies will have in excess of a $150 million in revenues. The intent is to establish a multi-facility hotel, gaming, entertainment, and real estate development company of which Global Casinos, Inc will operate as the gaming subsidiary.
DTLL intends to have its properties developed as destination hotels, resorts and casinos, with condominiums and other amenities. The development of the properties are subject to risks and uncertainties which include, but are not limited to, those relating to permitting, financing, the actions of federal, state, or local governments and agencies. DTLL may be affected by some or all of these factors and other risks and uncertainties, many of which are beyond DTLL's control. Except for historical statements contained herein, the statements made in this release constitute forward-looking statements that involve risks and uncertainties.