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Pan Asia Investment and Management Company Acquires Stake in NexxNow, Inc.
Jul 22, 2008 (08:07 AM EDT)
BUFFALO, N.Y., July 22 /PRNewswire-FirstCall/ -- NexxNow, Inc. , a sports media and marketing company, today announced that Pan Asia Investment and Management Company, an investment firm located in Dalian, China has acquired a 4% stake in the Company. The alliance will allow for Pan Asia to represent NexxNow in its efforts to penetrate the Chinese sports and broadcasting markets.
Under this agreement, Pan Asia and its President Dr. Lo Jen Fu will assist the company in the formation of its Chinese Advisory Board. Pan Asia will focus its efforts in the pursuit and formalization of providing televised Professional Basketball contests to the 300 million plus basketball fans of China and the creation and launch of a Chinese NexxNow Internet presence utilizing the company's proprietary ACE technology. The agreement provides Pan Asia incentives to leverage NexxNow's ACE technology into $1 million of Chinese media inventory in 2008 and $4 million in 2009.
Paul Riley, CEO of NexxNow, Inc. stated, "Pan Asia's involvement provides NexxNow a solid foundation and strong presence in the People's Republic of China. The experience, knowledge and established relationships they provide are invaluable. The Pan Asia Management Team allows us the opportunity to accelerate the pace upon which NexxNow can achieve its goals. I am honored by their involvement."
About NexxNow, Inc.
NexxNow, Inc. is a diversified Sports Media and Marketing Company that Provides technologically powered multi-media ad platforms to National/International Advertisers. NexxNow China, Inc. (Subsidiary) is pursuing the television broadcast of professional sporting events to China.
Information on the company and a fact sheet can be found on http://www.nexxnow.com .
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. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
CONTACT INFORMATION: Market Vision Consulting, Inc. Robert Gartzman Phone (561) 447-7177
CONTACT: Robert Gartzman of Market Vision Consulting, Inc.,+1-561-447-7177, for NexxNow, Inc.
Web site: http://www.nexxnow.com/