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VANCOUVER, BC, March 17, 2023 /CNW/ – Kings Entertainment Group Inc. (“Kings Entertainment” or the “Corporation“) (CSE: JKPT) (OTC: JKPTF) announces that, in spite of months of constant work by the Corporation, Sports Venture Holdings Inc. (“SVH“) is refusing to comprehensive the previously agreed small business mixture of the Corporation and SVH (the “Enterprise Mixture“) announced on May possibly 25, 2022.
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The terms of the Enterprise Mixture have been agreed to pursuant to a small business mixture agreement dated May possibly 24, 2022 (the “Enterprise Mixture Agreement“) among Kings Entertainment and SVH. Pursuant to 3 extension agreements among the Corporation and SVH, the outdoors date to close the Enterprise Mixture Agreement had been extended to March 17, 2023 (the “Outdoors Date“). Regardless of the Company’s willingness and potential to comprehensive the Enterprise Mixture prior to the Outdoors Date, SVH has advised that it does not intend to do so.
The Corporation is taking into consideration all alternatives with respect to the enforcement of the Enterprise Mixture Agreement, the loan and its other rights.
Disclaimer and Cautionary Statement Concerning Forward-Hunting Information and facts
Particular statements contained in this press release constitute forward-seeking information and facts. These statements relate to future events or future overall performance. The use of any of the words “could”, “intend”, “anticipate”, “think”, “will”, “projected”, “estimated” and related expressions and statements relating to matters that are not historical details are intended to determine forward-seeking information and facts and are primarily based on the Company’s present belief or assumptions as to the outcome and timing of such future events. Actual future final results may well differ materially. In unique, this release consists of forward-seeking information and facts relating to, amongst other points, the Company’s intention to seek enforcement of the Enterprise Mixture Agreement, the loan and its other rights, and the Company’s potential to succeed in recovering amounts owing from SVH. Many assumptions or variables are normally applied in drawing conclusions or producing the forecasts or projections set out in forward-seeking information and facts. These assumptions and variables are primarily based on information and facts presently readily available to the Corporation. Even though such statements are primarily based on management’s affordable assumptions, there can be no assurance that the Corporation will pursue legal recourse or be profitable in recovering amounts owed by SVH below the terms of the Enterprise Mixture Agreement.
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Forward-seeking statements are not guarantees of future overall performance and involve dangers, uncertainties and assumptions which are hard to predict. Such statements and information and facts are primarily based on quite a few assumptions relating to present and future small business approaches and the atmosphere in which the Corporation will operate in the future, such as, anticipated fees, and the potential to obtain its targets. Trading in the securities of the Corporation must be regarded as hugely speculative.
Things that could bring about the actual final results to differ materially from these in the forward-seeking statements incorporate, SVH’s willingness to cooperate, common financial, industry or small business circumstances, adjustments in legislation and regulations, and litigation. Forward-seeking statements contained in this news release are expressly certified by this cautionary statement. These statements must not be study as guarantees of future overall performance or final results. Such statements involve recognized and unknown dangers, uncertainties and other variables that may well bring about actual final results, overall performance or achievements to be materially distinctive from these implied by such statements. The Corporation assumes no duty to update or revise forward-seeking information and facts to reflect new events or situations unless necessary by law. Readers must not location undue reliance on the Company’s forward-seeking statements. Neither the CSE nor its regulation solutions provider accepts duty for the adequacy or accuracy of this news release.
Supply Kings Entertainment Group Inc.
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