[ACCESSWIRE]
MEMPHIS, TN / ACCESSWIRE / February 14, 2017 / Platinum Pari-Mutuel Holdings, Inc. (OTC PINK: PPMH), a company focused on innovation and enterprise by acquiring, managing, and operating technology based companies for growth within the industry, is proud to announce that it has accepted a tendered offer from South American Gold Corp. (OTC PINK: SAGD) for the acquisition of PotCircles, a cannabis social media network currently in development by PPMH's tech incubator subsidiary, GreatDay Inc.
South American Gold Corp. and the Company have executed an LOI that will give PPMH 10,000,000 common, non-reversing shares of SAGD stock carrying a present day value of approximately $700,000 in addition to receiving a 2.5% ongoing revenue share from gross profits for the life of the application. PotCircles is a cannabis focused social network set to launch on April 20th and just one of the projects currently being considered or already in development by GreatDay, Inc.
Paul Baioni, CEO of PPMH, stated, "This opportunity represents a prime example of how our company strives to create impact and increase shareholder value. The return on this investment alone will provide significant increase in value to PPMH and provide resources for continued development of innovative solutions for PPMH through its GreatDay incubator subsidiary."
PPMH routinely reviews and considers opportunities that compliment its tradition of award winning products and global recognition. All projects are reviewed in light of PPMH's long-term strategy. Those that fit within the framework for long-term value are developed and promoted by the Company. Other projects, like PotCircles, are shopped and sold to entities that can best develop and promote them. SAGD will assume the continued responsibilities of development and promotion of the application to a revenue generating level of growth. PPMH is placing South American Gold in touch with the appropriate developers and consultants to assist in the completion and launch of PotCircles.
Paul Baioni went on to say, "As we focus on our primary industry sectors, GreatDay continues to develop new ideas and concepts that impact society and create shareholder value. Some of these developments will remain as PPMH products and some, like this one, will receive outside offers. With each new project, we weigh the opportunity for immediate ROI versus the long-term cost factors and future ROI. This transaction represents one that would be best suited for outside advancement, while providing liquid assets and potentially producing a significant ongoing revenue stream."
Platinum Pari-Mutuel Holdings, Inc. will continue to provide information to its shareholders and the public, as appropriate or necessary, and through its internet presence http://www.PPMHinc.com.
Disclaimer
This release contains forward-looking statements that are based on beliefs of Platinum Pari-Mutuel Holdings management and reflect Platinum Pari-Mutuel Holdings current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities and Exchange Act of 1934, as amended. When we use in this release the words "estimate," "project," "believe," "anticipate," "intend," "expect," "plan," "predict," "may," "should," "will," "can," the negative of these words, or such other variations thereon, or comparable terminology, are all intended to identify forward looking statements. Such statements reflect the current views of Platinum Pari-Mutuel Holdings with respect to future events based on currently available information and are subject to numerous assumptions, risks and uncertainties, including but not limited to, risks and uncertainties pertaining to development of a salable market, changes in economic conditions and other risks, uncertainties and factors, which may cause the actual results, performance, or achievement expressed or implied by such forward looking statements to differ materially from the forward looking statements. The information contained in this press release is historical in nature, has not been updated, and is current only to the date shown in this press release. This information may no longer be accurate and therefore you should not rely on the information contained in this press release. To the extent permitted by law, Platinum Pari-Mutuel Holdings and its employees, agents and consultants exclude all liability for any loss or damage arising from the use of, or reliance on, any such information, whether or not caused by any negligent act or omission. This press release might incorporate by reference the Company's filings and other reports. Investors are encouraged to review all filings. There is no assurance Platinum Pari-Mutuel Holdings will identify projects of merit or if it will have sufficient financing to implement its business plan. There is no assurance that the Company's due diligence on the acquisitions assets, companies, and projects will be favorable nor that definitive terms can be negotiated. Information in this release includes representations from the private companies referred to which has not been independently verified by the company. A downturn in the market would affect the potential profitability of the proposed acquisition negatively. Any trademark or trade name, project, or idea listed in this release is property of its prospective owner.
SOURCE: Platinum Pari-Mutuel Holdings, Inc.
