SUN Completes $5,000,000 Financing
October 20 2008 - 9:00AM
Marketwired
SUN Sports & Entertainment, Inc. (PINKSHEETS: SUNR) announced
today it has completed a financing arrangement which could provide
the Company with up to $5,000,000 in direct investment capital from
The N.I.R. Group, LLC, a hedge fund that provides direct investment
financing.
SUN Chairman/CEO CJ Comu stated, "The N.I.R. Group is one of the
largest and most active direct investment fund managers in the USA.
We have finally identified a powerful and strategic investor that
could provide long term resources and financing to our
organization."
Comu added, "This is the final step of an aggressive
re-organization plan that started in March of this year and has
involved a re-structuring of our operating plan and the launch of
some new and exciting activities for SUN. We are very enthusiastic
that the sport of MMA continues to increase and expect to be a
dominant player in the industry. I'm proud to say that we completed
this financing during one of the toughest times on Wall
Street."
N.I.R. Managing Director Corey Ribotsky commented, "We like the
SUN business model and are very confident that the sport of MMA is
just starting to grow. We hope our investments and relationship can
help the company achieve its financial forecasts."
SUN President Clyde Gentry III stated, "In the coming months,
our shareholders should be looking for a lot of new and exciting
changes with the Company to include an interactive web site, an
entire new line of merchandise, and some dynamic concept-driven MMA
Promotions. The Company has slated an aggressive production
schedule for 2009 to include new strategic venue and broadcast
partners."
About SUN:
SUN Sports & Entertainment, Inc. (www.sunorganization.com)
is a Professional Mixed Martial Arts Event Production and Promotion
Company specializing in concept-driven MMA events. SUN is a
Certified and Licensed Combative Sports Promoter that produces
World Class MMA Events under the brand, Art of War
(www.artofwarlive.com).
About N.I.R. Group, LLC:
The N.I.R. Group, through its hedge fund, has been investing in
new and developing public companies since 1999. With offices in
Roslyn, New York and Charlotte, North Carolina, N.I.R. Group, LLC
invests on behalf of both individuals and institutional investors.
For more info please visit (www.nirgroup.com).
Safe Harbor Statement -- This release includes forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 27E of the Securities Act of 1934. Statements
contained in this release that are not historical facts may be
deemed to be forward-looking statements. Investors are cautioned
that forward-looking statements are inherently uncertain. Actual
performance and results may differ materially from that projected
or suggested herein due to certain risks and uncertainties
including, without limitation, ability to obtain financing and
regulatory and shareholder approvals for anticipated actions. Such
statements are based on management's current expectations and are
subject to certain factors, risks and uncertainties that may cause
actual results, events and performance to differ materially from
those referred to or implied by such statements. In addition,
actual or future results may differ materially from those
anticipated depending on a variety of factors, including continued
maintenance of favorable license arrangements, success of market
research identifying new product opportunities, successful
introduction of new products, continued product innovation, sales
and earnings growth, ability to attract and retain key personnel,
and general economic conditions affecting consumer spending.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof.
SUN Sports & Entertainment Inc. does not intend to update any
of the forward-looking statements after the date of this release to
conform these statements to actual results or to changes in its
expectations, except as may be required by law.
SUN Info: SUN Sports & Entertainment Inc. April Rain - Media
Relations arain@sunorganization.com
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