NEW YORK, Oct. 15, 2010 (GLOBE NEWSWIRE) -- The Empire Sports and Entertainment Holding Co. (OTCBB:EXCX), a promoter of entertainment and sports events, today announced that it has begun trading on the over-the-counter bulletin board market. On September 29, 2010, the Company entered into a Share Exchange Agreement with The Empire Sports and Entertainment Co., a privately held Nevada corporation. Upon closing of the transaction, the Empire Shareholders transferred all of the issued and outstanding capital stock of Empire to the Company in exchange for shares of common stock of the Company. The exchange caused Empire to become a wholly-owned subsidiary of the Company.
The Company's common stock is now trading on the OTC Bulletin Board (OTCBB) under the symbol "EXCX". In accordance with the share exchange agreement, the surviving entity will keep the name, "The Empire Sports and Entertainment Holding Company".
The Empire Sports and Entertainment Holding Co. is primarily engaged in the creation, promotion and distribution of sporting and other entertainment events. The Company generates revenue through ticket sales, televised events, and other promotional activities and currently has exclusive promotional agreements with numerous professional boxers.
Recently, the Company has brought on world famous sports manager and entertainment promoter Shelly Finkel, as the Company's CEO, who commented, "Today marks a significant milestone for The Empire Sports and Entertainment. By becoming a publicly traded company, we will significantly increase The Empire's exposure, liquidity, transparency as a corporation and access to the capital markets necessary to continue executing our mission to become a world-class leader of sports, media and entertainment events."
For more information please visit www.theempirese.com.
Forward-Looking Statements:
Statements made in this release, other than statements of historical fact, are forward-looking statements, including any statement that refers to expectations, projections or other characterizations of future events or circumstances and those which can be identified by the use of forward-looking terminology such as "expects," "plans," "may," "should," or "anticipates" and other similar expressions. Forward-looking statements are subject to a number of known and unknown risks, which might cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include whether the appropriations bill will receive legislative approval and ultimately become law. The Empire disclaims any intention or duty to update any forward-looking statements made in this release.