World Hockey Association Inc.
PINK SHEETS : WHKA

World Hockey Association Inc.

January 26, 2007 11:48 ET

World Hockey Association Refutes Global Developments Inc. Claims

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 26, 2007) - The World Hockey Association Inc. ("WHA") (PINK SHEETS:WHKA) sets the record straight.

On December 22, 2006, in a news release disseminated by J.D. Briner, President, and Layton Dean ("Briner and Dean") contacts for Global Developments Inc. ("Global"), Global released information to the public and their shareholders containing erroneous and false information pertaining to the operations and status of the World Hockey Association ("WHA"). "In the release, Global and its representatives Briner and Dean referred to a financing agreement purportedly entered into between WHA and Global that granted Global a 40% non-dilutive interest in the common shares of WHA," stated Mr. Ricky Smith ("Mr. Smith"), WHA President. "No such share purchase agreement exists or ever existed between Global and WHA."

"Furthermore," states Mr. Smith, "in the news release by Global's representatives Briner and Dean, Global made unsubstantiated claims that the WHA has been issuing large amounts of common stock to insiders and management. The WHA denies any wrongdoing and assures shareholders that all undertakings of the company have been in compliance with all applicable securities regulations and as such, the statements made by Global are baseless and inaccurate. The WHA will vigorously defend its position in this matter."

With respect to the hockey operations of WHA, the seven teams currently operated under the umbrella by the WHA continue to play, and the WHA is moving closer to its goal of re-establishing itself as recognized hockey entity.

Recently, the WHA launched its "for viewing" (http://www.officialwha.com/merchandise.html) line of team branded products including replica hockey jerseys, sweatshirts, T-shirts and other items. Most of these products are available in the arenas where the teams play, and soon, they will be available for purchase on the league website as well. "Not only can fans of the Squamish Cougars, purchase team merchandise, but fans of the Chicago Cougars as well. This line will appeal to young and old alike, as the league has kept the integrity of the original WHA team colors and logos," states WHA President & CEO, Ricky Smith.

ABOUT THE WORLD HOCKEY ASSOCIATION

WHA is an alternative junior league for skilled 16 to 20 year old players. The WHA is affordable entertainment for the whole family. The WHA's goal is to promote the highest standard of sportsmanship and to train players to become future professional hockey players. For 2006 - 2007 season the WHA is featuring six teams that include the New Westminster, the Squamish Cougars, the Bellingham Bulls, the Osoyoos Spurs, the Armstrong Sharks, and the Lumby Fighting Saints.

Safe Harbour Statement

Under the Private Securities Litigation Reform Act of 1995 except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors affecting the company's operations, markets, products and prices and other factors discussed in the company's various filings with the Securities and Exchange Commission.

Contact Information

  • World Hockey Association Inc.
    Lacey Shenton
    (604) 575-2999