Fortune Entertainment Corp. Announces the Signing of Distribution Agreement With Innovative Gaming, Inc.Business Editors LAS VEGAS--(BUSINESS WIRE)--Nov. 8, 2000 Fortune Entertainment Corp. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:FETG) announced today the signing of a distribution agreement with Innovative Gaming Corp. of America (IGCA IGCA Italian Greyhound Club of America IGCA International Garden Centre Association IGCA Inherently Governmental/Commercial Activities ). The agreement between FEC See forward error correction. FEC - Forward Error Correction and IGCA grants FEC the right to distribute IGCA products in the countries of South and Central America Central America, narrow, southernmost region (c.202,200 sq mi/523,698 sq km) of North America, linked to South America at Colombia. It separates the Caribbean from the Pacific. . IGCA manufactures multi-player gaming machines (BJ Blitz, Lightning Strike Roulette, Hot Shot Dice, Bonus Streak), as well as its new 5-reel Video Slot machine (Monster Money, Tiki Tiki Tick of Dow Jones Industrial Average component issues. Treasure, Area 51). Douglas R. Sanderson, chief executive officer of FEC, stated, "This agreement implements the basis of our business plan. We will immediately begin the sales and distribution of IGCA equipment into the territories. We will also complement IGCA product with the sales and distribution of our own proprietary product, 'Games of Fortune,' into the same territories. These sales will produce recurring revenue, which will stimulate other aspects of our business." FEC manufactures and distributes its proprietary game "Games of Fortune" as a multi-game, multi-denomination gaming device. FEC has also agreed with IGCA to develop the "Games of Fortune" on IGCA's proprietary platform. This will enable "Games of Fortune" to conform to all world-wide gaming jurisdictions. Sanderson added, "Having the 'Games of Fortune' produced on the CD-Rom driven platform will be an added feature to our game. This 'new' 'Games of Fortune' will be player-friendly and user-friendly. We anticipate approval of our game in all jurisdictions." FEC is a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. under the symbol FETG. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement Under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Except for historical information, the forward-looking matters discussed in this news release are subject to certain risks and uncertainties including, but not limited to, the company's liquidity, the timing of regulatory approvals, as well as other risks indicated from time to time in the company's filings with the Securities and Exchange Commission, such as the company's Form 10K for the fiscal year ended Dec. 31, 1999. The company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events. Information regarding Fortune Entertainment Corp. can be received by contacting Douglas R. Sanderson, chief executive officer, 333 Orville Wright Court, Las Vegas, NV 89119; Ted Silvester, vice president, tsilvester@fetg.com; or visit the company's Web site at www.fetg.com. |
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