SOURCE: World Hockey Association

February 27, 2007 13:36 ET

WHA Elaborates on Issues Talking Points From Monday Night's Radio Interview -- Company Plans Aggressive Legal Action to Counter Unscrupulous Attacks From Global Development, Inc. and Its Related

Parties

VANCOUVER, BC -- (MARKET WIRE) -- February 27, 2007 -- World Hockey Association (PINKSHEETS: WHKA) and its CEO Ricky Smith wish to thank SubPennyRadio for the opportunity and venue in which they were able to discuss various points regarding the WHA. In the interview, Smith discussed past events as well as anticipated future events which would concern WHKA shareholders, its league's players and its hockey fans.

In an effort to reiterate the issues raised in the interview the WHA wishes to state the following:

There are efforts underway to expand the league to a 16-team format. This is planned to be accomplished in time for the Fall 2007 to Spring 2008 hockey season. Plans also include sending an all-star team to Japan this spring to play a series of games which will showcase the WHA to that nation. The WHA remains more committed than ever to provide a first class hockey league to young players and hockey fans in Western Canada and the Northwestern United States.

When asked if the company anticipated issuing a reverse split on WHKA stock, Smith responded with a definitive "NO." "A reverse split would be counterproductive and would hurt our shareholders. I am a shareholder. Why would I do something which would affect all of us negatively?" Smith said. Smith also said shareholders should expect no dilution over the near term. "Our first goal is to undo the damage which has been done to WHKA stock," Smith declared.

Smith stated shareholders of WHKA can be assured the company remains committed to defend shareholders and the league against the unscrupulous actions of Global Development, Inc. and its affiliated or related parties.

Smith said the WHA is compiling evidence to be used in a lawsuit which will address the illegal spam issue as well as suspected and evidenced activities regarding the issuance of illegal and unauthorized shares into the market for WHKA stock. Smith further stated that "he was not going to take this" and shareholders could expect vigorous legal action against the perpetrators.

When asked how large the suspected illegal share position was in the market for WHKA stock, Smith stated he believed it to be in excess of 100 million shares. Smith said this is the suspected primary reason for the price action in WHKA stock during the months of November of 2006 through early February of 2007

"Our goal is to protect our shareholders and we hope questions were answered," stated CEO, Ricky Smith. "I believe as strongly as ever in the future of our league and our company."

About Sub Penny Radio

SubPennyRadio is a commercial-free, interactive broadcast offering listeners exclusive interviews with subject-matter experts, insight into enterprising companies, and detailed technical analysis. The show scans the trading field covering well-known companies to undiscovered market gems trading on the US stock exchange and OTC/OTCBB. For additional information: http://www.subpennyradio.com.

About the World Hockey Association

The WHA created the WHA Junior West Hockey League to promote the sport of hockey. The Junior West Hockey League is an alternative, community-based league for highly skilled junior players, and is designed to promote high standards of sportsmanship in hockey.

As a listed company on the Over-The-Counter Pink Sheets our mission is to provide a financially sound economic model that is responsible to WHA investors, coaches and staff, and the junior hockey players participating on each team. Fan satisfaction is a primary consideration in our decision making process.

Forward-Looking Statements

Safe Harbour statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors affecting the company's operations, markets, products and prices and other factors discussed in the company's various filings with the Securities and Exchange Commission.

Contact Information

  • CONTACT:
    V. Ackland
    416-996-1789