SOURCE: Red Mile Entertainment

February 26, 2007 14:43 ET

Red Mile Entertainment Approved for Quotation on the OTC Bulletin Board

SAUSALITO, CA -- (MARKET WIRE) -- February 26, 2007 -- Red Mile Entertainment, Inc. (OTCBB: RDML), a worldwide developer and publisher of interactive entertainment software, announced that, as of today, its common stock has been approved for quotation on the OTC Bulletin Board (the "OTCBB") under the symbol "RDML." To find the Company's information through online financial websites, it may be necessary to enter "RDML.OB."

On February 8, 2007, Red Mile effected a 1-for-3 reverse split of its common stock. Following the reverse split, the total number of shares of common stock outstanding is approximately 9,661,740.

"This is an important milestone for the company," stated Chester Aldridge, Chairman and CEO of Red Mile. "Through the quotation of our shares, we look forward to enhancing our visibility among a broader range of investors and increasing the liquidity of our common stock. Red Mile is participating in an exciting, rapidly growing market, and this is another strategic step in building a strong foundation for executing our growth strategy."

The OTCBB is a regulated quotation service that displays real-time quotes, last sale prices and volume information in over-the-counter equity securities. OTCBB securities are traded by a community of registered market makers that enter quotes and trade reports through a computer network. Information regarding the OTCBB, including stock quotes, can be found at http://www.otcbb.com.

This news 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. The forward-looking statements are based on current expectations, estimates and projections made by management. The Company intends for the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," or variations of such words are intended to identify such forward-looking statements. All statements in this release regarding company growth, rapidly growing market, enhanced visibility among a broader range of investors, increasing the liquidity of our common stock, and publication of "Jackass: The Game" in 2007 are forward-looking statements. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements. All forward-looking statements made in this press release are made as of the date hereof, and the Company assumes no obligation to update the forward-looking statements included in this news release whether as a result of new information, future events, or otherwise, other than as required by law. Please refer to the Company's Form 10-KSB and other filings with the United States Securities and Exchange Commission (the "SEC") for additional information regarding risks and uncertainties, including, but not limited to, the risk factors listed from time to time in such SEC reports. Copies of these filings are available through the SEC's electronic data gathering analysis and retrieval system (EDGAR) at www.sec.gov.

About Red Mile Entertainment, Inc.

Red Mile Entertainment, Inc. is a worldwide developer and publisher of interactive entertainment software that is headquartered in Sausalito, California. Red Mile creates, incubates and licenses premier intellectual properties and develops products for console video game systems, personal computers and other interactive entertainment platforms. Red Mile has published a number of innovative titles. In 2005, Red Mile successfully launched its first franchise game, "Heroes of the Pacific," for multiple platforms including the PlayStation®2 computer entertainment system, Xbox® video game system from Microsoft and the PC. The popular game is also being developed for the PSP® portable entertainment system, and a sequel to the game is being developed for the next generation of consoles and PC platforms. Red Mile's most highly anticipated title, "Jackass: The Game," which is based on the extremely successful MTV series, is expected to be published in 2007.

For more information about Red Mile Entertainment, Inc., contact Todd Weimer at (415) 339-4242, or Jennifer Jarman of The Blueshirt Group at (415) 217-5866, and please visit our web site at www.redmileentertainment.com.

©Red Mile Entertainment, Inc. All rights reserved. Red Mile Entertainment and the Red Mile Entertainment logo are trademarks of Red Mile Entertainment, Inc.

Contact Information

  • Todd Weimer
    (415) 339-4242

    Jennifer Jarman
    The Blueshirt Group
    (415) 217-5866