Business
American Basketball Association Canada Inc., A Majority-Owned Subsidiary of Valiant Eagle Inc. (OTC:PSRU), Announces TWO Landmark Expansion Agreements For Provinces in Canada
American Basketball Association Canada Inc., A Majority-Owned Subsidiary of Valiant Eagle Inc. (OTC:PSRU), Announces TWO Landmark Expansion Agreements For Provinces in Canada.
About this update from Valiant Eagle Inc.
[{"type":"text","content":"American Basketball Association Canada Inc. (“ABA Canada”), a subsidiary of Valiant Eagle, Inc (OTC:PSRU), is thrilled to announce a significant milestone in its growth strategy with the signing of two Memorandums of Understandings (MOUs). These groundbreaking agreements signify ABA Canada's commitment to expanding its presence into the Canadian basketball market, marking an exciting new chapter for both parent and subsidiary.Under the terms of the MOUs, the new team owners are to have exclusive territory reservations granted by ABA Canada allowing access to specific parts of Provinces/Territories across Canada. As consideration, each team owner will pay a license fee of $200,000. This strategic move underscores Valiant Eagle's dedication to tapping into the immense potential of the Canadian basketball landscape and further solidifies its position as a desired prominent player in the sports industry.\"We are thrilled to embark on this exciting journey utilizing the American Basketball Association Canada Inc. With average income in Toronto being $57,000 as of January, we want to make sure price points are affordable for families. The league isn’t designed to compete with the NBA but is designed to provide sports entertainment for those who would not otherwise experience it,” said both Valiant Eagle and ABA Canada CEO, Xavier Mitchell. He continues, \"These agreements represent a significant opportunity for us to expand our reach and engage with basketball enthusiasts across Canada. We are confident that this collaboration will yield tremendous benefits for both parent and subsidiary and allow us to be a player in the global sports market.\"The ABA Canada league holds several responsibilities to its team owners and teams to ensure the smooth operation and success of the league. Some of these responsibilities include:League Operations: ABA Canada is responsible for overseeing the day-to-day operations of the league, including scheduling games, managing league rules and regulations, and coordinating with team owners and officials.Financial Management: The league manages financial matters such as revenue distribution, league fees, and budgeting. It ensures transparency and fairness in financial transactions and maintains financial stability for the benefit of all...