SOURCE: Greens Worldwide Inc.

February 10, 2009 15:42 ET

Greens Worldwide Closes Acquisition of mitvGOLF™, Inc.

BOCA RATON, FL--(Marketwire - February 10, 2009) - Greens Worldwide Incorporated (PINKSHEETS: GRWW) announces today that it has closed its acquisition of mitvGOLF™.

Gary Freeman, CEO of GRWW, introduced the acquisition to the Golf World at the PGA Tour Allianz Championship at Broken Sound, Boca Raton, Fla.

Commenting on the acquisition, Mr. Freeman continued, "After many years of existence in the print, internet and media Industries, mitvGOLF™ has totally integrated all three forms to provide their clients with the best value for advertising dollars in this niche Golf affinity. We have revitalized a fantastic niche product and service in Greens Worldwide Inc. We will revitalize all of the previous assets that this previously popular Golf affinity owns, aiming at seasoned advertisers and promoters. We will update investors on the roster of professional talent and leadership to be aligned with GRWW."

The following is a brief description of mitvGOLF's products:

OUR MAGAZINE -- mitvGOLF has published a quarterly magazine for a specialized golf clientele. We deliver 10,000 plus copies of our 48-page, 5 1/2 x 8 1/2 magazine, to country clubs, golf clubs, attorneys, doctors, chamber of commerce, banks, hospitals, restaurants.

OUR TV -- mitvGOLF produces a local 30 minute television show aired on Saturday between 10:00 and 12:00 AM bi-monthly.

OUR WEB -- mitvGOLF -- By uniquely driving visitors to our site through our proprietary coupon validation program, magazine reprint, television show airings, leading us to having one of the largest traffic websites.

About Greens Worldwide Incorporated

Greens Worldwide Incorporated is a vertically integrated sports marketing and Management Company, engaged in owning and operating sports entities and their support companies and is publicly traded under the stock symbol GRWW. Our current operating subsidiary is mitvGOLF™, www.mitvgolf.com. This totally integrated Print, Internet and TV Media continues our effort to develop a more cohesive and synergistic organization. In addition, the Company's strategic plan is to be able to deliver substantial value by providing multiple platforms and media to leverage our partners advertising and promotional dollars, while delivering the finest entertainment opportunities to retain and build customers.

Forward-Looking Statements

The statements contained in this news release that are not purely historical are 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 are intended to be covered by the safe harbors created thereby. Forward-looking statements, such as our intent to develop a system of regional development, deal with the Company's current plans, intentions, beliefs and expectations. Investors are cautioned that all forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed from time to time in reports filed by the Company with the Securities and Exchange Commission.

Contact Information

  • PR / IR Contact:
    Jeffrey Scott
    Pearl Street Advisors LLC
    (404) 437 4049