RENO, NV--(Marketwire - October 8, 2010) - CitySide Tickets Inc. (
The acquisition meets management's criteria of having deep roots, an established consumer base and significant growth potential. Renowned in Europe with a large viewing audience globally, Cage Wars Championship has successfully produced and operated live MMA events in the UK over the past 10 years. Its fights have been and continue to be broadcasted internationally on more than 13 television stations with collective viewing audiences reaching more than 400 million potential viewers.
Through this agreement, Cage Wars will have access to the growth capital required to launch beyond the UK into international markets. Cage Wars intends to further develop its brand equity as events are secured over the mid to long term with a premiere launch show occurring this December in Belfast and at least three shows intended for 2011.
As part of the acquisition agreement, CitySide Tickets Inc. has committed $1,000,000.00 (one million dollars) of financing that it intends to raise in stages over an 8 month period. In return Cage Wars will transfer 100% of its stock, assets and brand over to CitySide Tickets Inc., pending successful funding.
Throughout the upcoming weeks CitySide intends to communicate to its shareholders details of the company, its operations and events as well as introduce, at the conclusion of its transition, CitySide's new management and Board of Directors. Management is excited and motivated by the experience and tenacity of the principles of Cage Wars and looks forward to profiling them to current and future shareholders.
In addition to the acquisition, CitySide Tickets Inc.'s board of directors approved an increase in its common stock treasury to a total of 2,020,000,000 shares and will be filing for a change of name to "Causeway Entertainment Co." Investors are urged to review the information concerning the company that is posted on the OTC Markets website at www.otcmarkets.com. Additional information concerning the transaction with Cage Wars will be posted shortly.
About Mixed Martial Arts
Mixed martial arts (MMA) is a full contact sport that allows a wide variety of highly regulated fighting techniques, from a mixture of martial arts traditions and non-traditions, to be used in competition. The rules allow the use of striking and grappling techniques, both while standing and on the ground, allowing martial artists of different backgrounds to compete. The sport hit mainstream in 1993 with the launch of the highly successful American brand UFC.
In 2008, Forbes magazine estimated the market size of Cage Wars Championships' competitors to be more than 1 billion dollars which drew in an average viewing audience in America of 3 million male viewers between ages 18 and 49. Since this time the industry has matured and its popularity has leaped ahead of speculators. Now, bars and clubs around the world are filled to capacity with participants paying to watch the MMA fights, with both male and female fans still in that same age demographic. The growth however is only just beginning. MMA schools are popping up in local neighborhoods across the nation, children are practicing MMA skills, and workout routines and fitness programs have emerged flavored by MMA.
About Cage Wars Championship Ltd.
Cage Wars Championship Ltd., operationally located in Belfast, Northern Ireland, is a multimedia entertainment company, supplying a complete range of MMA entertainment products to a diverse, international market.
About CitySide Tickets Inc.
CitySide Tickets Inc. is focused on capitalizing on the constantly growing Mixed Martial Arts (MMA) sports industry. Building itself as a mainstream competitive sport, MMA has grown into a multimillion-dollar industry with millions of viewers tuning into MMA sporting events. Through promotion, sponsorship and acquisition, CitySide aims to position itself as a leading player in the industry.
Safe Harbor Statement
All statements in this press release that are not historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements may be identified by words such as "believe," "intend," "expect," "may," "could," "would," "will," "should," "plan," "project," "contemplate," "anticipate," or similar statements. Because these statements reflect CitySide Ticket's current views concerning future events, these forward-looking statements are subject to risks and uncertainties.