SOURCE: Global Lottery Corporation

October 10, 2005 09:30 ET

Global Lottery Corporation (OTC- "GTTC") in Negotiations With Global Immune Technologies, Inc. to Sell Its Subsidiary, WSG Systems, Inc.

MERCER ISLAND, WA -- (MARKET WIRE) -- October 10, 2005 -- James Walters, President of Global Lottery Corporation ("Global"), a Nevada corporation (OTC: GTTC), announced today that Global has entered into negotiations with Global Immune Technologies, Inc. ("GIT"), a publicly held OTCBB company, to sell WSG Systems, Inc. ("WSG"), a wholly owned subsidiary of Global. WSG owns proprietary technology for the implementation and operation of lottery and pari-mutual systems on a worldwide basis. Management of Global and GIT has agreed to the sale of WSG for 100,000,000 common shares of GIT, subject to GIT completing a financing for $2,000,000 USD by October 20, 2005. Additionally, GIT has committed to complete a further financing of up to $20,000,000 USD, predicated upon WSG securing lottery and/or pari-mutual contracts.

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 may affect 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

  • For further information, please contact:
    Mr. James Walters
    (866) 591-8100
    fax (877) 571-9500