SOURCE: Global Lottery Corporation

June 15, 2005 09:30 ET

Global Lottery Corporation (OTC: GTTC) Announces the Completion of the Acquisition of WSG Systems, Inc. to Operate as a Wholly Owned Subsidiary of Global

CARLSBAD, CA -- (MARKET WIRE) -- June 15, 2005 -- James Walters, President of Global Lottery Corporation ("Global") (OTC: GTTC), a Nevada corporation, announced today that Global has completed the acquisition of WSG Systems, Inc. ("WSG"), a California corporation, the holder of proprietary software and hardware to implement and/or improve and operate private and government lottery systems and pari-mutual betting systems. Global issued 6,763,950 shares of its common stock in exchange for 13,527,900 shares of WSG's common stock. In addition, Global issued 8,250,000 shares of common stock to settle a portion of WSG's outstanding payables and negotiated settlement for the balance of debt owing. WSG's shareholders approved the acquisition on April 28, 2005, however WSG and Global had to settle with the debt-holders of WSG to complete the acquisition. For further information, please contact Mr. James Walters (866) 591-8100, fax (877) 571-9500 or by e-mail at jtwihox@aol.com.

Certain of the statements made in this Company information summary regarding its business constitutes forward-looking statements contemplated under the Private Securities Litigation Reform Act of 1995 and certain factors could cause actual results to differ materially from those projected. For a brief discussion of the risks and uncertainties that my effect our business and future operating results, please refer to the Company's 15c2-11 Filing Statement posted with the National Quotations Board, Pink Sheets under "Financial Reports."

Contact Information

  • Contact:
    Mr. James Walters
    (866) 591-8100
    Fax: (877) 571-9500
    E-mail: Email Contact.