SOURCE: Avatar Ventures Corp.

December 16, 2013 08:56 ET

Avatar Ventures Provides Update in Respect to Proposed Merger Candidate,

Avatar Ventures Corp. Provides Corporate Update

CARSON CITY, NV--(Marketwired - Dec 16, 2013) -  Avatar Ventures Corp. (OTC Pink: ATAR) ("Avatar" "ATAR" or the "Company") is pleased to provide the following corporate update.

As part of its planned strategy to build shareholder value, Avatar is diligently working on updating its filings to move from OTC Pink Sheet Limited information to fully reporting OTCBB current status. The company has received confirmation from its accountant that he has received all the accounting information he requires. As a main factor in proceeding with Avatar's proposed merger, the information is currently being reviewed by the company's Auditor, and upon approval the company will begin submission of the required filings.

The company expects that its filings will be submitted shortly which will permit the company to move forward with its business plans. The company also announces that discussions regarding the proposed transaction with are ongoing and Avatar expects that the signing of definitive agreement will be announced within the time frame as per its previous press release.

About Avatar Ventures Corp.

Avatar Ventures Corp. founded in 2006 is a public company currently investigating revenue producing business ventures including those in the high tech sector. With an advantageous share structure and through the building of a solid management team, the company will endeavor to provide increased shareholder value and at the same time minimize dilution so as to provide maximum return for shareholders. We invite current and prospective shareholders to contact us and learn more about our company by calling Ed Minnema or emailing him at the contact info below. Avatar has signed a Memorandum of Understanding with Fantrax and the definitive agreement is expected on or before February 2014.

According to a Forbes August 20, 2013 article citing statistics from The Fantasy Sports Trade Association, they estimate that 32 million Americans spend $467 per person or about $15 billion (USD) in total playing fantasy sports. Roughly, $11 billion (USD) flows toward football alone. These figures don't count ad revenue for fantasy hosting sites. The NFL's annual revenue falls just under $10 billion currently. So the "derivative" market has grown larger than the foundational market.


By developing the most powerful and sophisticated Commissioner/League Manager product ever released, has strategically positioned itself as the most comprehensive fantasy sports website in the industry. Intuitive functionality and cutting-edge customization features allow fantasy sports experts and novices alike to manage their leagues with more flexibility, ease-of-use and convenience than any other league manager product. The feature comparison chart and testimonials speak for themselves. operates fantasy leagues for NFL, MLB, NBA, NHL, NCAA football & basketball, NASCAR, PGA and Premier League Soccer.. is the first company ever to offer a full-fledged commissioner product for this wide an array of sports and leagues. Combined with the most detailed real-time stat and analytic/reporting capabilities, a growing list of original content and a wide variety of salary cap and draft games, as well as soon-to-be-released daily games for all sports, is a complete one-stop shop for fantasy sports fans around the world.

Safe Harbour Statement: This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan," or planned, "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.

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