Friday, October 13, 2000, 9:00 A.M. Eastern Time
Company Press Release
HORSEPOWER and THE SPORTS NETWORK FINALIZE
MARKETING AGREEMENT
Vancouver, British Columbia [Business Wire] - October 13, 2000. Sungold
Entertainment Corp. (OTC Bulletin Board: SGGNF News) announced today that it’s wholly owned subsidiary Horsepower Network.Com Inc. and The Sports Network of Southampton, PA (sportsnetwork.com) have completed a marketing agreement.
The Sports Network is an international sports content provider with an audience of 8 - 10 million sports fans online monthly. The Sports Network customers include The New York Times, Southam newspapers, Knight Ridder newspapers, Bloomberg, Lycos, Comtex, Computer Sports World and The Daily Racing Form. Under the terms of the agreement Horsepower’s banner “Virtual Horse Racing the Ultimate Rush” will be featured in the horseracing and sports betting categories of The Sports Network and in return Horsepower will be offering daily sports news from 15 major sports on the Horsepower Network website. Players will be directed to Horsepower from throughout The Sports Network world and Horsepower players will be able to access the scores, stories and stats about their favorite sport, team or player without leaving the Horsepower website. Horsepower welcomes The Sports Network audience and encourages all The Sports Network fans to log on to Horsepower Network.Com and open an account for free and play for valuable prizes.
CONGRATULATIONS
Congratulations to all recent Horsepower prize winners. Top prize winners for the period ending September 30, 2000 were (by user name) Summersky - digital camera from The Future Shop, Jonathan - 14 kt. gold bracelet from The Bay, Jasquist - DVD player, Daledale - $1,000 Air Canada airline voucher, Candles and flowers - 30 day National car rental, Yussk - hand held video camera/recorder, The moon - Banff mountain adventure tour from Signature Vacations, Ashley - ricon mountain bike, Danny Jew - 3 days at Union Square, San Francisco, Spike Jr. - tennis bracelet, Sbistodeau - CD radio cassette with remote, Cisckid - portable CD player, Backdoor - Vasari watch. All players of Horsepower Network.Com are credited 6,000 credits to play for these prizes until the next prize award date November 30, 2000.
HORSEPOWER UPDATE
Horsepower is under going major enhancements as it prepares for the launch of cash wagering with USD. Recent events in Australia, South Africa and Nevada are very encouraging for the 2 billion USD online gaming industry, which is expected to double in size in the next two years. The Horsepower beta test period will end on October 20, 2000 and substantial player friendly upgrades to the website will be implemented next week.
HORSEPOWER MARKETING CAMPAIGN
Horsepower is implementing an aggressive marketing campaign with a 6 month target goal of 50,000 new players. Play for prizes has been in excess of $12 million fantasy and the Horsepower Jackpot is over 2 million fantasy credits. Horsepower has a revenue target for 2001 of $40,000,000 USD.
SUNGOLD NEGOTIATING TO OPERATE RACETRACKS
Sungold is currently in negotiations to acquire operating racetracks and to offer Horsepower to the players as an extra horserace option between live races (subject to regulatory approvals). Horsepower has done extensive interviews with racing fans and fans indicate given a choice of betting on a virtual race between live races or going to play casino games they would prefer to play virtual races and stay involved with horse racing by a ratio of 8:1.
Sungold Entertainment Corp.
(OTCBB: SGGNF)
Per:
“Kim Noble Hart”
Kim Noble Hart, President & CEO
For more information regarding this release or to be updated on future corporate news, please contact Anne Kennedy at (604) 669 9580.
This news release contains forward-looking statements regarding projected revenues. Forward-looking statements address future events and conditions based on the opinions and estimates of management and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. |
