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Non-Tech : Sungold International Holdings Corp. (SHIHF) -- Ignore unavailable to you. Want to Upgrade?

To: Troy Griffin who wrote (18)	4/15/2002 12:56:53 PM
From: Troy Griffin	Read Replies (1) \| Respond to of 20

Sungold paid out a new record pick 3 of $40630.00 US. ALSO SEE NEWS RELEASE BELOW Sungold Offers To Double B.C. Purses With Horsepower2 - - - - - VANCOUVER, British Columbia--(BUSINESS WIRE)--April 12, 2002-- Sungold Entertainment Corp. (OTCBB: SGGNF, Frankfurt: WKN 608164) announces that through its wholly owned subsidiary Horsepower Broadcasting Network (HBN) International Ltd. has offered the Horsepower2 random virtual racing game with its global progressive Quick6(TM) jackpot to the B.C. racing industry for all racetracks and teletheatres - Sungold is prepared to double purses of all B.C. racetracks if the Horsepower Broadcasting Network (HBN) International Ltd. receives approval from the Provincial Government for the province wide installation of HP2. OPTIONS FOR 227 ACRE EXTENDED TO NOVEMBER 30 2002 Sungold has extended the option to purchase 100% of the shares of A.C. Gilmore & Sons (Farms) Ltd. to November 30, 2002. This will allow Sungold to build an equine training center and professional equine sales pavilion on the 227 acre Gilmore Farm for the 2003 racing season. Sungold renewed its $24 million USD financing commitment from T.A.C. International Investments for the revival of B.C. horse racing. Preliminary estimates indicate wagering per capita in B.C. could double with the introduction of the Horsepower2 random equal chance jackpot game. Horsepower2 recently won the International Innovator Award at the International Gaming Law Conference held in Dublin Ireland. SUNGOLD WILL APPEAL TO MICHIGAN SUPREME COURT FOR JUSTICE IN FRAUD SUIT AGAINST GUN LAKE TRIBE In an unpublished Opinion issued on April 5, 2002, the Michigan Court of Appeals affirmed the Eaton County Circuit Court's dismissal of a lawsuit against the Match-e-be-nash-she-wish Band of Pottawatomi Indians of Michigan, also known as the "Gun Lake Band," the United Nation of Chippewa, Ottawa and Pottawatomi Indians of Michigan, Inc., a Michigan corporation incorporated by the Tribe, and a number of the Tribe's officers, on grounds of tribal sovereign immunity. The suit, filed in 1999 by Sungold Entertainment (U.S.A.) Inc. and its parent corporation, Sungold Entertainment Ltd., sought damages for the Tribe's repudiation of its contractual agreements which had promised that Sungold would be granted the exclusive right to manage any future casinos operated by the Tribe, and to receive a percentage of casino revenues for a term of years, in exchange for financial and other assistance provided by Sungold to assist the Tribe in its efforts to obtain the necessary acknowledgment of tribal status by the United States Department of the Interior. The Gun Lake Band has announced its plan to open a high-stakes casino near the City of Grand Rapids, in Western Michigan. In its lawsuit, Sungold has alleged that it provided funding and services valued at over 1.8 million dollars to the Tribe for this purpose between September of 1994 and the end of 1998, but the Tribe, having accepted that assistance, repudiated its agreement after obtaining preliminary approval of its petition for federal recognition in November of 1998. The federal recognition of the Tribe became final in August of 1999, approximately six months after the filing of Sungold's lawsuit, which was later dismissed, based upon the federal recognition of tribal status, on grounds of tribal sovereign immunity. In its Opinion, the Court of Appeals rejected Sungold's argument that the circuit court's application of tribal sovereign immunity, based upon retroactive application of the federal recognition alone, impermissibly deprived it of previously vested rights in violation of its constitutional right of due process. The Court also rejected Sungold's claim that sovereign immunity had been waived by a series of written agreements which had emphasized that the Tribe's agreements with Sungold were valid and binding, and by the Tribe's incorporation of its "business arm" as a Michigan corporation. In rejecting these arguments, the Court relied heavily upon a prior Court of Appeals decision issued in 1997 in a case involving Huron Potawatomi Tribe. Sungold has announced its intention to seek further review of these issues in the Michigan Supreme Court. This news release contains forward-looking statements regarding projected revenues and corporate developments. Forward-looking statements address future events and conditions based on the opinions and estimates of management and therefore involve inherent risks and uncertainties such as risk associated with international markets, financing conditions and international currency fluctuations. 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. CONTACT: Sungold Entertainment Corp. For more information or to be updated on future corporate news, please contact: Stephan Horvath, Investor Relations Officer, 888/669-9580 email: investor_relations@sungoldent.com KEYWORD: INTERNATIONAL CANADA INDUSTRY KEYWORD: ELECTRONIC GAMES/MULTIMEDIA ENTERTAINMENT GAMING SOFTWARE PRODUCT SOURCE: Sungold Entertainment Corp. Today's News On The Net - Business Wire's full file on the Internet