Business
HeadsUp Entertainment Inc. Completes Sale of its Equity Stake in PokerVision Media Inc.
HeadsUp Entertainment Inc. Completes Sale of its Equity Stake in PokerVision Media Inc..
About this update from Headsup Entertainment International, Inc.
[{"type":"text","content":"\n\n HARRISONBURG, Va., Nov. 30, 2016 (GLOBE NEWSWIRE) -- HeadsUp Entertainment International Inc. (PINKSHEETS:HDUP) (\"HeadsUp\") announces it has completed the sale of all its shareholdings in PokerVision Media Inc., to ePlay Digital Inc. (CSE:EPY).  Under the terms of the agreement as executed by all the shareholders of Pokervision Media Inc., 100% of the shares of Pokervision Media Inc. were sold to ePlay Digital Inc. in exchange for 15,000,000 common shares in the capital of ePlay Digital Inc.  HeadsUp has received one third of the total transaction's common shares, or an aggregate of 5,000,000 shares of the Canadian Securities Exchange listed company, e-Play Digital, as consideration for the prior transfer of its poker related assets to PokerVision Media, including the Canadian Poker Tour brand, Canadian Poker Player Magazine, it’s television library and various websites.  The completion of the 5,000,000 ePlay Digital share issuance to HDUP represents the culmination of the asset sale that began as a management initiative in December of 2015.  Standard escrow conditions relate to the shares acquired.\n Management believes this transaction will allow for the assets to be monetized effectively through the ePlay Digital and PokerVision Media’s business model of developing and operating interactive broadcast and live video platforms with a goal of building next generation video and TV networks for sports and eSports. Next generation video and TV networks provide users with broadcast TV, live streaming, augmented reality, fantasy sports, and highly interactive social media for mobile engaged viewers and traditional media audiences.  The PokerVision Network delivers content to consumers via new digital media as well as traditional television and other broadcast platforms.  “We are very encouraged about the completion of our deal with PokerVision Media and ePlay Digital and believe that their ability to build a vertically integrated media and event company will help create shareholder value for HeadsUp and allow for new business opportunities to be developed to launch the Fanlogic Daily Fantasy Sports platforms within their multi-platform network infrastructure,” stated HeadsUp CEO Randolph Brownell III. About HeadsUp Entertainment International Inc.HeadsUp Entertainment Inter...