SOURCE: World Hockey Association

February 21, 2007 08:00 ET

World Hockey Association Further Refutes Global Developments Inc.'s Latest Claims -- WHA Intends to Pursue Previously Announced Plans to File Legal Action Against GDVM

VANCOUVER, BC -- (MARKET WIRE) -- February 21, 2007 -- World Hockey Association (PINKSHEETS: WHKA) announced today the company refutes any and all claims that they are connected with or associated with GLOBAL DEVELOPMENTS, INC. (GDVM), who continues to claim to be associated or partnered with the WHA.

WHA is not now, nor has ever been party to any agreement or contract with Global, and furthermore intends to vigorously defend itself against any and all claims made by GDVM against the company.

WHA is not domiciled in Nevada, nor does it have any business activity in Nevada and would therefore conclude that Nevada has no jurisdiction in any litigation which might occur between the two parties. WHA said it therefore appears GDVM has no serious intention of pursuing the lawsuit and that the lawsuit is merely a maneuver with some unknown and possibly malicious intent.

WHA went on to surmise the lawsuit GDVM claims to have filed may be a reaction to WHA's previously announced plan to file legal action against GDVM regarding their illegal spam activity with respect to WHKA stock.

In addition, WHA announced plans today to request NOBO and OBO shareholder lists to be compared with information provided by the Depository Trust Corporation (DTC) records in an attempt to determine if illegal shares have been sold into the market for WHKA shares.

WHA President Ricky Smith stated, "The enormous volume in our stock over the past few weeks suggests there may be illicit trading activity coming from offshore accounts and such activity could be part or all of the cause of the recent decline in the price of WHKA." Smith went on to add, "We are in the midst of completing the WHA's inaugural season and have plans to expand. We are pleased with our accomplishments this year and will not idly stand by while our company and its stock are under attack. We intend to respond to aggression with action."

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