SOURCE: World Hockey Association

October 25, 2005 10:07 ET

Midland Baring Acquires a Controlling Stake of the WHA

MONTREAL -- (MARKET WIRE) -- October 25, 2005 -- The World Hockey Association (OTC: WHKY) announced today that Midland Baring Financial Group has acquired a controlling ownership of the World Hockey Association.

Under the terms of the transaction, Midland Baring Financial Group will own approximately 20% of the WHA and will officially become the company's Corporate Investment Banker. Midland Baring Financial Group is a boutique investment bank that specializes in the financing of public companies.

"We are very happy with our recent negotiation, we love the game of hockey and truly believe in the future of the World Hockey Association," said Jean-Francois Amyot, Managing Director of Midland Baring Financial Group. "We believe that hockey should be available to all people and not just for the ones able to pay a $100 ticket price. The WHA offers fans a quality on ice product and provide players an opportunity to demonstrate their talent," further added Mr. Amyot.

"Midland Baring is an organization that understands our game, has a passion for it and we are proud to count them as one of our major shareholders," said Ricky Smith, President of the WHA. "We have been in discussions with Midland Baring for over 6 months and the fact that we have started our season has pushed the momentum in our direction and made their decision much easier," further added Mr. Smith.

About the World Hockey Association

The World Hockey Association is a publicly traded sport marketing organization, which currently operates the WHA Super Junior hockey and plans to operate a Professional hockey league. The WHA also owns and operates a real-estate division, which is in the process of acquiring and building sports and hockey facilities throughout North America.

Important Information About Forward-Looking Statements

All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.

A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.

Contact Information

  • Contact:
    Ricky Smith
    President
    World Hockey Association
    Tel. 647-880-4855

    Jean-Francois Amyot
    Managing Director
    Midland Baring Financial Group
    Tel. 514-448-6710
    www.midlandbaring.com