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News October 29, 13:09 Eastern Time
GIC Global Intertainment Files Lawsuit Against Post Time Sports Ltd.
LAS VEGAS, Sep 29, 1999 (BUSINESS WIRE) -- GIC Global Intertainment
Corporation (OTC BB: GGNC) located and licensed in the Commonwealth of
Dominica, W.I., an online developer and provider of gaming software &
technologies, broadcasting, and information; and a high technology
entertainment and marketing company that markets online sports books
and casinos, lotteries, and e-commerce web sites including
www.cyberbetz.com, www.y2klottery.com, www.sportzpage.com, today
announced that on September 3, 1999, GIC Global Intertainment
Corporation filed legal action by Writ of Summons, Civil Action,
against Post Time Sports, Ltd. in The High Court of Justice Antigua and
Barbuda for Breach of the Agreement and Memorandum of Understanding
dated April 28, 1999, whereby GIC Global agreed to acquire Post Time
Sports Book, Ltd., St. Johns, Antigua.
GIC Global claims damages from Post Time Sports for Breach of
Memorandum of Understanding signed by GIC Global and Post Time Sports
dated April 28, 1999, and for further breach by Post Time Sports of an
Agreement by Post Time Sports to sell to GIC Global the assets,
goodwill, license, equipment, furnishings and all capital stock of the
company.
GIC Global is represented by local Counsel Michael E. Bruney, Esquire,
Dominica, W.I., and Septimus A. Rhudd, Esquire, St. John's, Antigua,
W.I.
GIC Global intends to pursue this legal action vigorously for the
financial damages and loss of goodwill that GIC Global sustained as a
result of the breach of Agreement by Post Time Sports, Ltd.
GGNC's competitors within the Internet gaming market include Anchor
Gaming Inc. (Nasdaq: SLOT), Trans World Gaming Group (OTC BB: IBET),
Argosy Gaming Co. (NYSE: AGY), Starnet Communications Intl. Inc. (OTC
BB:SNMM), International Game Technology Inc. (NYSE: IGT), Cryptologic
Inc. (TSE:CRY), GLC Limited (Nasdaq: GLCCF), Atlantic International
Entertainment Ltd. (OTC BB: AIEE), Cybergames Inc. (OTC BB: CYGA), IGN
Internet Global Network Inc. (VSE:IGN) (OTC BB: IGINIF) and Global Games
Corp. (OTC BB: GLOW), Advanced Gaming Tech.(OTC BB: AIEE), Atlantic Intl.
Ent. (OTC BB: AIEE), American Wagering (OTC BB: BETM), Bingo.com (OTC
BB:BIGR), Cosmoz.com (OTC BB: CMOZ), Casino Pirata (OTC BB: CSIN),
E-lottery (OTC BB: ELOT), 1st Ent. Holdings (OTC BB: FTET), Cyberoad (OTC
BB:FUNN), Global Ent. Holdings (OTC BB: GAMM), Galaxiworld.com (OTC
BB:GLXW), Go Call Inc. (OTC BB: GOCA), Inland Ent. Corp. (OTC BB: INLD),
Int'l Sports Wagering (OTC BB: ISWI), MDI Holdings (OTC BB: MDIH),
Multimedia Games (OTC BB: MGAM), New Discoveries Publishing (OTC
BB:NWDP), Omicron Technologies (OTC BB: OGPS), Poker.com (OTC BB: PKER),
Q-Seven Systems (OTC BB: QSSY), Youbet.com (OTC BB: UBET), Virtual Gaming
Enterprises (OTC BB: VGAMD), Virtgame.com (OTC BB: VGTI), Winners
Internet Netwk (OTC BB: WINR).
This news release may contain 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, and is subject to the safe harbor
provisions of these sections. Actual results may differ materially from
the expectations and estimates of GIC Global Intertainment Corporation.
Copyright (C) 1999 Business Wire. All rights reserved.
Distributed via COMTEX.
CONTACT: GIC Global Intertainment
IR Contact--Shawn Balaghi or Bob Imami
Toll Free 1-877-GIC-WINS (877-442-9467)
ir@ggncwins.com or
604/688-6888
WEB PAGE: businesswire.com
GEOGRAPHY: NEVADA
INDUSTRY CODE: ENTERTAINMENT
GAMING
COMED
INTERACTIVE/MULTIMEDIA/INTERNET
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