LOS ANGELES, CA--(Marketwired - Dec 5, 2016) - World Poker Fund Holdings, Inc. (OTC PINK: WPFH), a leading developer and operator of online and event-based social gaming platforms and brands, announces today that it has signed a definitive agreement to acquire the online marketing platform JRock, LLC. At closing, JRock will become a wholly owned subsidiary of WPFH. Closing is expected to occur by January 15, 2017, subject to acceptable due diligence by the Company, and the consideration for the acquisition will be unregistered common stock of WPFH valued at $1,500,000, based on the closing stock price on the day before closing.
JRock currently operates on a profitable basis and will provide marketing expertise, proprietary tools, and strategic email campaigns targeted to promote Celebrityworld.com, WPFH Celebrity slot games, and other WPFH social gaming platforms. Joseph Martinez, Manager of JRock, stated, "Our team is excited about joining World Poker Fund Holdings. With our marketing platform, we will be able to promote WPFH gaming platforms to millions of potential subscribers, resulting in increased points of user engagements and increased revenues."
"Acquiring a marketing group to promote all of our latest gaming platforms is a natural fit for the Company. Given the resources and extensive potential user contacts of JRock, we will be able to accelerate the opt-in, growth, and retention rates for all of our current and future on-line products," says Eddie Kwong, VP of Investor Relations.
About World Poker Fund Holdings, Inc.
World Poker Fund Holdings, Inc. is a leading developer and operator of online and event based social gaming platforms and brands. The company is currently in the final stages of launching its two-core celebrity driven social gaming brands for online poker and casino gaming. The company does not offer any games or gaming opportunities for cash in the United States and is not licensed as a gaming operator in the United States or any other jurisdiction.
To learn more about World Poker Fund Holdings (WPFH) and its upcoming events, please visit www.worldpokerfund.com
Safe Harbor Statement
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.