VANCOUVER, British Columbia, April 26, 2006 (PRIMEZONE) -- MangaPets Inc. (OTCBB:MPTS) (the "Company") today announced that in addition to completing the MangaPets web portal the Company will establish a U.K. based subsidiary company which will pursue acquisitions in the gaming sector.
The U.K. subsidiary will embark on an aggressive strategy to acquire internet casino, sportbook and on-line poker properties. The Company anticipates that a number of U.K. based financial institutions will participate in the funding of these acquisitions. The Company will be targeting established gaming businesses valued from $15 million to $50 million (USD).
The Company is pleased to announce that Weinstock Ackers and Johns ("Weinstock") will assist its U.K. subsidiary with this initiative. Weinstock is a London based consulting firm specializing in both land based and on-line gaming operations.
Forward-Looking Statements: A number of statements contained in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including timely development, and market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions and the ability to secure additional sources of financing. When used in this press release, words such as "could," "plan," "estimate," "expect," "intend," "may," "potential," "should," and similar expressions are forward looking statements. Although MangaPets believes that the expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. MangaPets encourages the public to read the information provided here in conjunction with its most recent filings on Form 10-KSB, Form 10-QSB and Form 8-K. MangaPet's public filings may be viewed at www.sec.gov.