LONGWOOD, Fla., April 16, 2008 (PRIME NEWSWIRE) -- ImagiTrend, Inc. (Pink Sheets:IMTD) is pleased to announce that the Company has entered negotiations to acquire Castle Technologies, Inc., an online gaming company. This will enable the Company to expand its revenue base and enhance growth opportunities to increase shareholder value. The acquisition will enter the Company into the growing online gaming industry, which is estimated to hit $48 billion by 2010 and top $125 billion by 2015.
Castle Technologies has unique gaming software that provides all the features and security levels to compete with the competition in the gaming industry, and differentiate itself with its ability to pay progressive payouts on played poker hands -- a first in the industry. The company has positioned itself to carve out a significant segment of the online gaming market and license its software to offshore corporations that have the legal means to conduct online gambling activities.
"We have explored a number of companies in the online gaming industry and feel that Castle Technologies is a great fit with our criteria. This acquisition has the potential of introducing the Company to the billion dollar online gaming market and the Company will eventually change its name and symbol to more accurately reflect the acquisition," stated Mark Kaley, Chairman of the Board, President and CEO of ImagiTrend, Inc.
Safe Harbor: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the safe harbors created thereby. The Company is a development stage company who continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.
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