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Abstract
(Marketwire - Sept. 2, 2011) - The Board of Directors of Parlay Entertainment Inc. ("Parlay" or the "Company") (TSX VENTURE:PEI), a developer of online gaming technologies, announced today that it, in conjunction with its Trustee BDO Canada Limited ("BDO"), have now completed the sale of a majority of Parlay's assets. The purchaser was M Projects Assets S.A. ("MProjects"), which was the original stalking horse bidder and the lending party to the previously announced Credit Agreement.
Parlay Entertainment Inc. is one of the pioneers and technology leaders in the online gaming industry. As the inventor and holder of Internet bingo patents, Parlay was the first company in the world to develop and deploy a commercial Internet bingo product. Parlay's head offices are located in Oakville, Canada. Parlay is licensed or certified to conduct business in Alderney, the United Kingdom and the Isle of Man.