SOURCE: World Series of Golf

World Series of Golf

August 19, 2010 09:00 ET

(WSGF) World Series of Golf® Announces New CEO and Business Plan Expansion

LAS VEGAS, NV--(Marketwire - August 19, 2010) -  World Series of Golf®, Inc. (PINKSHEETS: WSGF) (OTCQB: WSGF) today announced Patrick Brown as the Company's new Chief Executive Officer (CEO). A new investment team purchased a controlling interest in World Series of Golf® in April of this year with plans to update and expand the Company's business plan. Patrick Brown's appointment as CEO signals the beginning of the updated and expanded plan being implemented. World Series of Golf® anticipates making a number of announcements over the coming weeks in conjunction with the Company's updated and expanded plan.

Incoming CEO Patrick Brown
"Everyone involved in the updated and expanded World Series of Golf® business plan has been working hard since the April announcement, and I could not be more enthusiastic or optimistic about the Company's prospects from here forward. The vision of Company founder John Slitz and the steady management hand of Joe Martinez, the CEO I am succeeding, have withstood the challenges of an economic environment less than conducive to introducing a new business idea. I look forward to working with them both in their continued role with the Company. World Series of Golf® has patent protected intellectual property, a recognized brand name, and an existing agreement to acquire complementary assets that will expand the Company's potential. Learn more about our plans with Rounder Magazine and a November Golf Tournament in Las Vegas when I provide an overview of the Company's updated and expanded business plan in a Webcast scheduled to be released next Friday, August 27th," stated incoming CEO Patrick Brown.

Update and Expansion Architect Joe Martinez
"Patrick Brown is a welcome addition to the World Series of Golf® team and the right person to execute on the updated and expanded plan. I will continue to concentrate my efforts on the existing World Series of Golf® business and look for Patrick to continue the work he has already initiated in bringing complementary new resources to the company. I want to mention a special thanks to Philip Verges and his Small Equity Initiative that empowered the opportunity to reinvent the World Series of Golf®," stated Joe Martinez.

Patrick Brown brings a strong background to his role with World Series of Golf, mixing an entrepreneurial background in online and gaming entities with his equally valuable experience in the Fortune 500 environment. He previously helped lead a micro cap company in the development and launch of an online wagering product, and handled the day to day operations, leading to the eventual sale of the operations to a friendly competitor. He has also developed innovative wagering opportunities, which included a US patent filing for a wagering method of play. Recognized as industry leader, he has been sought out as a presenter and moderator at a wide range of industry events, including an international mobile gaming conference. Mr. Brown earned his undergraduate degree in business management from Xavier University and a law degree from University of Cincinnati. 

About World Series of Golf®, Inc.
Based in Las Vegas, World Series of Golf® (www.worldseriesofgolf.com) is a global sports and entertainment company whose activities include land-based and online, skill-based golf events featuring a patent-protected method of play. World Series of Golf®, combining the skill of golf and wagering format of No-Limit Texas Hold'em poker, was played at exclusive Las Vegas-area golf resorts in 2007 and 2008. The third annual World Series of Golf® was played May 11-14, 2009, at the Las Vegas Paiute Golf Resort. The company plans to achieve its international expansion goals through strategic partnerships, sponsorships, and the founders' extensive experience and contacts in the field of sports marketing. For additional information, or to register for an event, visit the company's website at www.worldseriesofgolf.com.

About Rounder Magazine (www.rounderlife.com)
Rounder Magazine, The Casino Lifestyle Magazine launched in December 2006, is a gaming lifestyle magazine distributed to casinos throughout the United States. It is also available by subscription and sold in various bookstores throughout the country. The fashionably hip magazine, which features the sport of poker, also includes insightful articles and schedules relating to the NFL, College Football, the PGA, NASCAR and MLB. This editorial variety, mixed with stunning photography, showcasing trendy fashions and the popular Rounder models, account for the magazine's extreme popularity and make it totally unique in the gaming industry.

About The Small Equity Initiative (www.smallequity.com)
The Small Equity Initiative is a not-for-profit organization established by the founders of NewMarket Technology, Inc. (PINKSHEETS: NWMT) and China Crescent Enterprises, Inc. (OTCBB: CCTR) to coordinate education, advocacy and activism to improve the capital markets for both small business entrepreneurs and investors. The Small Equity Initiative (SEI) plans to build a community for small business investors and entrepreneurs aimed at improving the collective understanding of how the over-the-counter market really works today and how it can be improved in the future. SEI is based in the U.S. but serves the global small business community.

FORWARD-LOOKING STATEMENTS
Statements made in this news release may be forward-looking statements within the meaning of Federal Securities laws that are subject to certain risks and uncertainties and involve factors that may cause actual results to differ materially from those projected or suggested. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to: (1) the availability of additional funds to enable us to successfully pursue our business plan; (2) the uncertainties related to the appeal and acceptance of our proprietary method of play and our planned on-line products; (3) the success or failure of our development of additional products and services; (4) our ability to maintain, attract and integrate management personnel; (5) our ability to secure suitable broadcast and sponsorship agreements; (6) our ability to effectively market and sell our services to current and new customers; (7) changes in the rules and regulations governing our business; (8) the intensity of competition; and (9) general economic conditions. Additional factors that could cause actual results to differ materially from those projected or suggested in any forward-looking statements are contained in World Series of Golf® 's most recent periodic reports on Form 10-K and Form 10-Q that are filed with the Securities and Exchange Commission. World Series of Golf® assumes no obligation to update and supplement forward-looking statements because of subsequent events.

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