Today, CitySide Tickets Inc. announced the acquisition of Cage Wars Championship Ltd. (“Cage Wars”) based in Northern Ireland, UK. Cage Wars, a Mixed Martial Arts (“MMA”) sports entertainment company with a long established brand and fight-event history in the UK, will operate as a 100% wholly owned subsidiary of CitySide Tickets Inc.
Cage Wars has deep roots, an established consumer base and significant growth potential, all of which were part of management’s acquisition criteria. Renowned in Europe with a large viewing audience globally, Cage Wars Championship has successfully produced and operated live MMA events in the UK for a decade. Its fights have been and continue to be broadcasted internationally on more than 13 television stations with collective viewing audiences reaching over 400 million potential viewers.
Through this agreement, Cage Wars will have access to growth capital which will be used for funding expansion beyond the UK into international markets. The company anticipates further developing its brand equity as events are secured over the mid to long term with a premiere launch show occurring this December in Belfast and at least three shows intended for 2011.
CitySide Tickets Inc. has committed one million dollars of financing that it intends to raise in stages over an 8 month period. In return Cage Wars will transfer 100% of its stock, assets and brand over to CitySide Tickets Inc., pending successful funding.
CitySide told investors it intends to communicate details of the company, its operations and events as well as introduce, at the conclusion of its transition, CitySide’s new management and Board of Directors. According to the press release, management is excited and motivated by the experience and tenacity of the principles of Cage Wars and looks forward to profiling them to current and future shareholders.
CitySide Tickets Inc. also announced that its board of directors approved an increase in its common stock treasury to a total of 2,020,000,000 shares and will be filing for a change of name to “Causeway Entertainment Co.” The company urged investors to review its information posted on the OTC Markets website at www.otcmarkets.com. Further information concerning today’s announced acquisition is expected to be released shortly.
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