SilverHawk Entertainment Group, Inc (OTC: SVHG)
Acquisition to Dramatically Transform Silverhawk
TAMPA, FL–(MARKET WIRE)–Nov 13, 2006 — Silverhawk Entertainment Group, Inc. (Other OTC:SVHG.PK – News) announced it has signed a letter of intent to acquire two entertainment companies in exchange for issuance for approximately 75% of Silverhawk’s outstanding capitol stock. The transaction is subject to execution of a definitive agreement, financing, completion of an audit of Silverhawk and customary due diligence. Closing is expected within 30 days.
The most significant acquisition is of a company in the music business. The Chief Executive Officer of the music company will be the Chief Executive Officer of Silverhawk. He is a leading songwriter and producer and was previously a senior executive at Sony Music.
The second company is engaged in the boxing business. The boxing company currently is promoting and has agreements with boxers and is formulating strategies on staging at least 16 professional boxing events in 2007, all of which will be televised nationally and some internationally and major sports channels and other channels.
According to Timothy Doyle, the current President of Silverhawk, “I am excited about the proposed acquisitions. We expect to produce tremendous value for our shareholders with these acquisitions. The music company’s Chief Executive Officer has been closely aligned with many of modern music’s leading stars. Additionally, our new boxing company, while expected to be smaller than the music company, has the potential to become a leading force in the boxing business.”
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”), including, but not limited to, the expected completion of the acquisition and raising the necessary financing and the anticipated future growth from these acquisitions. Additionally, words such as “seek,” “intend,” “believe,” “plan,” “estimate,” “expect,” “anticipate” and other similar expressions are forward-looking statements within the meaning of the Act. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include our inability to complete the definitive acquisition agreement, market conditions and the music company’s ability to enter into agreements with singers and others.
Contact:
Tim Doyle
CEO
813-600-3490
Email Contact
Source: Silverhawk Entertainment Group, Inc.
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