GOLDEN, Colo., March 19, 2007 (PRIME NEWSWIRE) -- HumWare Media Corporation (Pink Sheets:HMWM) is pleased to announce that the Company has initiated their plan to spin-off their subsidiary, Timeless Sports, Inc. The Company expects to complete the spin-off by the end of the third quarter of this year and upon completion, HumWare plans to issue a dividend of Timeless Sports to its shareholders of record.
Timeless Sports, Inc., a wholly owned subsidiary of HumWare, is a premier professional athlete memorabilia and website services company. Timeless offers the ability to maximize professional athlete marketability by utilizing services such as eBay sales, apparel lines, an autograph authenticity system, fan club management, a customized Internet store and exclusive autograph appearances for fans to meet and obtain autographs from both current professional athletes as well as retired legends. The company currently operates a retail memorabilia store in the upscale Flatiron Crossing Mall in Broomfield, Colorado, just outside of Denver.
"With the recent acquisition of iGameFace and the LOI to acquire FSMG Sports, we have positioned Timeless Sports to be a major player in the sports memorabilia and professional athlete services marketplace. We are pleased and proud to have developed this company to the point that it can easily stand on its own and we look forward to rewarding our loyal shareholders who have watched it grow with us,'' stated John Huemoeller, CEO of HumWare Media Corporation.
HumWare Media recently announced that the Company has acquired the assets of iGameFace and has signed a Letter of Intent (LOI) with FSMG Sports, LLC. Under the terms of the LOI, HumWare will acquire the assets of FSMG Sports and merge them into Timeless Sports, Inc., the Company's wholly owned subsidiary.
For more information on Timeless Sports and its products please visit http://www.timelesssportsmedia.com or http://www.timeless-sports.com.
About HumWare Media Corporation:
HumWare Media Corporation (HMWM) has diversified operations that publish Internet games and promotional business-to-consumer advertising solutions. The Company is an emerging "new media" advertising company operating the Boondoggle Sports Network. Boondoggle delivers interactive sports trivia and fantasy sports entertainment to the hospitality industry (bars, restaurants, golf courses, health clubs, and hotels). The Company also sells sports memorabilia through its wholly owned subsidiary Timeless Sports, Inc.
Safe Harbor Statement: All statements other than statements of historical fact included in this press release are "forward-looking statements". The forward-looking statements, including statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the Company and factors that are subject to uncertainties, risk and other influences, which are outside the Company's control, and may yield results differing materially from those anticipated.