VANCOUVER, British Columbia, April 24, 2007 (PRIME NEWSWIRE) -- On Monday, April 23, 2007, World Hockey Association Corp. (Pink Sheets:WHKA) issued comments in response to a press release issued by Global Developments Inc. (Pink Sheets:GDVM) on the same day. All comments by the WHA were factually inaccurate.
In their press release, the WHA made the following two statements:
3) Arrangements have been made to pay the City of Osoyoos in British Columbia for all past due bills. These arrangements have been made through the Parks and Recreation Board at the Mayor's offices. This is similar to the same arrangements which have been made to all the cities who are owed money by the WHA for ice time bills accumulated during the 2006-2007 hockey season.
4) The City of Osoyoos has invited the WHA back for the 2007-2008 hockey season. Any statement made to the contrary by The Briner Group and/or Global Developments, Inc. is false and misleading.
Global Developments Inc. contacted the Honorable John Slater, Mayor of Osoyoos, by e-mail and asked him to confirm these statements. His response was as follows:
The Town of Osoyoos wishes to clarify that as of 2:30 p.m. on Monday, April 23, 2007, the Town has not received payment in full from the WHA. In addition, the team has not been formally invited back to play in the community.
The Town requires payment in full from the WHA before Council would entertain a formal request to have a WHA team in our community. This would require a formal resolution from Council to either extend the invitation or not.
Global Developments Inc. will address the remaining points in the WHA press release at the appropriate time.
About Global Developments Inc.
Global Developments, Inc. was formed to create a unique investment vehicle representing a growing portfolio of innovative and emerging growth-oriented companies. Global acquires its portfolio companies primarily as wholly or majority owned subsidiaries. As a result, Global maintains substantial management control, thereby giving it the ability to provide significant oversight and guidance in building value and creating liquidity events for its shareholders. Global invests in companies with solid management, operational excellence, and the potential to grow substantial revenue streams. Please visit http://www.globaldevelopmentsinc.com for more information.
Forward-Looking Statements
You should not place undue reliance on forward-looking statements in this press release. This press release contains forward-looking statements that involve risks and uncertainties. Words such as "will," "anticipates," "believes," "plans," "goal," "expects," "future," "intends," and similar expressions are used to identify these forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks we face as described in this press release. For further information about Global Developments, Inc. please refer to its Web site at http://www.globaldevelopmentsinc.com.