Elray Gaming Finalizes a Stock Purchase Agreement With a Strategic Partner in Asia
August 08 2014 - 9:15AM
InvestorsHub NewsWire
NEW YORK -
Aug. 08, 2014 - InvestorsHub NewsWire - Elray
Resources Inc. (OTCBB:ELRA)
announced today that it has Entered into a Definitive Stock
Purchase Agreement.
Elray
Resources Inc., has completed the sale of 10,000,000 shares of
common stock at a price of 3 cents per share. The Share Purchase
Agreement has been concluded with a Strategic Asian Partner,
Longma Holdings Limited. Longma
is a Hong Kong Company.
As a
result of the closing of this transaction, $300,000.00 in cash will
be paid to Elray.
The
parties to the Transaction have agreed to work together in
developing Elray's Technology and Gaming business in
Asia.
Neither
the Company nor any of its affiliates have a material relationship
with the Purchaser, other than in respect of the Purchase
Agreement.
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: Melissa Diaz, South Street Media, Inc Phone: (917) 937-8968 Email: info@southstreetmedia.com
Elray Resources (PK) (USOTC:ELRA)
Historical Stock Chart
From Apr 2024 to May 2024
Elray Resources (PK) (USOTC:ELRA)
Historical Stock Chart
From May 2023 to May 2024