Avatar Ventures Provides Update in Respect to Proposed Merger Candidate,
Avatar Ventures Corp. Provides Corporate Update
CARSON CITY, NV -- (Marketwired) -- 12/16/13 -- Avatar Ventures
Corp. (OTC Pink: ATAR) ("Avatar" "ATAR" or the "Company") is pleased
to provide the following corporate update.
As part of its planned strategy to build shareholder value, Avatar is
diligently working on updating its filings to move from OTC Pink
Sheet Limited information to fully reporting OTCBB current status.
The company has received confirmation from its accountant that he has
received all the accounting information he requires. As a main factor
in proceeding with Avatar's proposed merger, the information is
currently being reviewed by the company's Auditor, and upon approval
the company will begin submission of the required filings.
The company expects that its filings will be submitted shortly which
will permit the company to move forward with its business plans. The
company also announces that discussions regarding the proposed
transaction with Fantrax.com are ongoing and Avatar expects that the
signing of definitive agreement will be announced within the time
frame as per its previous press release.
About Avatar Ventures Corp.
Avatar Ventures Corp. founded in 2006 is a public company currently
investigating revenue producing business ventures including those in
the high tech sector. With an advantageous share structure and
through the building of a solid management team, the company will
endeavor to provide increased shareholder value and at the same time
minimize dilution so as to provide maximum return for shareholders.
We invite current and prospective shareholders to contact us and
learn more about our company by calling Ed Minnema or emailing him at
the contact info below. Avatar has signed a Memorandum of
Understanding with Fantrax and the definitive agreement is expected
on or before February 2014.
According to a Forbes August 20, 2013 article citing statistics from
The Fantasy Sports Trade Association, they estimate that 32 million
Americans spend $467 per person or about $15 billion (USD) in total
playing fantasy sports. Roughly, $11 billion (USD) flows toward
football alone. These figures don't count ad revenue for fantasy
hosting sites. The NFL's annual revenue falls just under $10 billion
currently. So the "derivative" market has grown larger than the
By developing the most powerful and sophisticated Commissioner/League
Manager product ever released, Fantrax.com has strategically
positioned itself as the most comprehensive fantasy sports website in
the industry. Intuitive functionality and cutting-edge customization
features allow fantasy sports experts and novices alike to manage
their leagues with more flexibility, ease-of-use and convenience than
any other league manager product. The feature comparison chart and
testimonials speak for themselves. Fantrax.com operates fantasy
leagues for NFL, MLB, NBA, NHL, NCAA football & basketball, NASCAR,
PGA and Premier League Soccer.. Fantrax.com is the first company ever
to offer a full-fledged commissioner product for this wide an array
of sports and leagues. Combined with the most detailed real-time stat
and analytic/reporting capabilities, a growing list of original
content and a wide variety of salary cap and draft games, as well as
soon-to-be-released daily games for all sports, Fantrax.com is a
complete one-stop shop for fantasy sports fans around the world.
Safe Harbour Statement: This release contains "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, and such forward-looking statements are made
pursuant to the safe harbour provisions of the Private Securities
Litigation Reform Act of 1995. "Forward-looking statements" describe
future expectations, plans, results, or strategies and are generally
preceded by words such as "may," "future," "plan," or planned, "will"
or "should," "expected," "anticipates," "draft," "eventually" or
"projected." You are cautioned that such statements are subject to a
multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those
projected in the forward-looking statements, including the risks that
actual results may differ materially from those projected in the
Avatar Ventures Corp.
President and CEO
Press spacebar to pause and continue. Press esc to stop.