Elray Acquires 25% of Asia Link
January 22 2015 - 9:25AM
InvestorsHub NewsWire
NEW
YORK, NY - January 22nd, 2015 - InvestorsHub NewsWire - Elray
Resources Inc. (OTCPK:ELRAD)
trading as Elray Gaming announced today that it has acquired 25% of
AsiaLink a Hong Kong Company.
AsiaLink is
a specialist gaming company with over 30 experienced
staff.
Asia Link
currently generates over 1.63 Billion RMB in wagering every month
($260 Million USD)
Mr Goodman,
CEO of Elray Gaming stated that “This is a considerable and exciting acquisition
as it will provide 24x7 customer support, an experienced Technology
Development team and an active marketing team that will result in
revenues and additional Asian players” “The Acquisition will ensure
that Elray maintains its growth in this region, the world’s largest
gaming market and the interest in AsiaLink will generate valuable
revenue for Elray Gaming and add value to the company as a
whole.”
In terms of the agreement Elray will
initially acquire a 25% stake in AsiaLink with options to acquire
additional percentages based on AsiaLink achieving profit
milestones.
In consideration for the purchase
Elray will issue Preferred Series C stock with a 24 month
restriction on conversion.
www.ElrayGaming.com
About
Elray
Elray is
an established Gaming entity which owns and licenses Gaming
Intellectual Property, Gaming Domains, Trademarks and Player
Databases. Whilst Elray is a US company, we have a global presence
with offices in London, South Africa, Sydney and Curacao, homes of
the largest gaming operators, which helps us actively manage and
serve our clients. Our sophisticated patented software
automatically declines any gaming requests from within the United
States, in strict compliance with current US law. Our Sydney office
allows us to tap into skilled resources and some of the world's
largest client base, for regular, personal interaction. As our
active operations are in a jurisdiction that is friendly to online
gaming, our clients can rest assured that we are here to
stay. www.elraygaming.com
This press
release may contain "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995, such as
statements relating to financial results and plans for future
development activities, and are thus prospective. Forward-looking
statements include all statements that are not statements of
historical fact regarding intent, belief or current expectations of
the Company, its directors or its officers. Investors are cautioned
that any such forward-looking statements are not guarantees of
future performance and involve risks and uncertainties, many of
which are beyond the Company's ability to control. Actual results
may differ materially from those projected in the forward-looking
statements. Among the factors that could cause actual results to
differ materially from those indicated in the forward-looking
statements are risks and uncertainties associated with the
Company's business and finances in general, including the ability
to continue and manage its growth, competition, global economic
conditions and other factors discussed in detail in the Company's
periodic filings with the Security and Exchange Commission. The
Company undertakes no obligation to update any forward-looking
statements.
CONTACT: Elray
Gaming
Email: info@elraygaming.com
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