Tesoro Enterprises Inc. Announces Initial Discussions Regarding Reverse Merger With InPlays Sports Corp.

Date : 07/07/2011 @ 10:30AM
Source : Marketwired
Stock : Tesoro Enterprises, Inc. (PN) (TSNP)
Quote : 0.0001  0.0 (0.00%) @ 7:54AM

Tesoro Enterprises Inc. Announces Initial Discussions Regarding Reverse Merger With InPlays Sports Corp.

Tesoro Enterprises, Inc. (PN) (USOTC:TSNP)
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Tesoro Enterprises Inc. (PINKSHEETS: TSNP) is pleased to provide a corporate update by announcing that the company has entered and continues discussions regarding a reverse merger with InPlays Sports Corp.

Henry Boucher, President and Chief Executive Officer of Tesoro, stated, "Although we are in the early stages of discussions and negotiations, we believe it is sensible to provide Tesoro shareholders with a corporate update and information regarding the future of the company. We are very pleased with Fashion Floor Covering and Tile Inc. operations and the growth we are experiencing at this time, but in an effort to maximize shareholder value we have entered into discussions with InPlays regarding a reverse merger."

InPlays Sports Corp. (www.inplays.com), an online media & marketing company, utilizes the popularity of professional sports to award college scholarships to students. InPlays currently has 762,000+ students, referred to as Members, that participate in a daily sports ticket by competing to win a college scholarship. The company generates its revenues from advertisers, the sale and auction of goods to its Members and ancillary revenue streams.

Andrew Barwicki, Founder and CEO of InPlays, commented, "I am very pleased to have entered into discussions with Henry in pursuing a reverse merger that I believe will increase shareholder value for Tesoro shareholders and provide InPlays shareholders with a public market for our stock. The success at InPlays is attributed to the market and need for advertisers to reach students in an uninterrupted manner. The Sports Ticket offered at InPlays.com allows for high school and college students to participate in a contest through a Free Entry in which they can win a college scholarship."

"Furthermore, our database of 672,000 Members allows advertisers to sponsor a Sports Ticket and advertise in the two emails we send our students every day. Large and small companies, advertisers, as well as many organizations throughout the globe are constantly seeking ways to market their products and services to students throughout the United States. I am pleased to announce that InPlays has developed a safe and reliable marketing medium that protects the privacy of all students, yet allows advertisers a direct way to advertise directly to students," continued Mr. Barwicki.

"Henry and I have scheduled a number of additional meetings over the next 2 weeks to continue our current negotiations and finalize a deal that we believe will be fair and beneficial to Tesoro and InPlays shareholders," concluded Andrew Barwicki.

Forward-Looking Statements

Safe Harbor Statement: This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by Tesoro Enterprises Inc. and InPlays Sports Corp are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the Company from time to time with the United States Securities and Exchange Commission.

Contact Information: Andrew Barwicki Email Contact

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