HeadsUp Announces New CEO and Expanding Operations
LAS VEGAS, Nov. 16, 2020 /CNW/ - HeadsUp Entertainment International Inc. (Pinksheets: HDUP.PK) is pleased to announce that Doug Wilson has been named the new President and CEO. Doug has operated firms in various technology sectors for over 3 decades and has provided expertise to several of these internationally. Doug consults to several other business entities including a land asset firm as well as private equity interests primarily focused on digital media, gaming and charity sectors. "I look forward to the challenge of leading HeadsUp into the new era of digital gaming as the new landscape for North American and global licensing is quickly opening up billion-dollar markets" stated Mr Wilson.
Doug joins previously announced lottery icon Mark Hutchinson to the management team and additional members of the gaming, broadcasting, entertainment, and interactive technology sectors will be announced next as part of the firms new strategic Advisory Board. Both Doug and Mark will also be nominated for addition to the Board of Directors.
Since the last announcement of the joint venture marketing agreement with LOTIX, HeadsUp has moved forward with the integration of their Pay App® E-wallet. Powered by PlayPay™, the Pay App® digital payment system is what would allow HeadsUp's sportsbook players to store funds, make bets, receive winnings and track payments all via the mobile E-wallet. Payment processing is one of the key customer integration tools for the evolving gaming sectors; this integration, therefore, gives HeadsUp a strong competitive advantage for customer acquisition and retention in emerging markets.
Through the LOTIX partnership, HeadsUp is navigating through the licensing process in numerous states as they are soon to fire up the first US go to market initiatives for both an online sports book and gaming operations as well as a possible land-based casino acquisition led by LOTIX CEO Bil Liu.
HeadsUp is holding a Special Shareholders Meeting next Monday November 23rd which has been organized to move the company forward with compliance strategies as direction of the new management team is to build the company asset base, revenues and continue to build shareholder value.
As Canadian shareholders have been unable to trade the stock due to a cease trade order issued by the Alberta Securities Commission in 2013, previous management engaged auditors to bring the company filings current and as of Friday have posted all financial statements as required by OTC Markets to become current in the US, however the fully audited statements required by the Canadian regulators necessitate an audit of the share capitalization table from the inception of the Company for the past 17 years which is an onerous, time consuming and very expensive process. The new Management Team has identified and is pursuing other options to create immediate and short term liquidity for Canadian shareholders and is actively pursuing those strategies which coincide with the corporate road map for growth and up-listing to a higher tier exchange. Management will be reporting further on that at the Special Shareholders Meeting next week.
Since joining the HeadsUp management team Mark Hutchinson has brought forward multiple opportunities to the Company to go to market in the charity fundraising, gaming, lottery and 50/50 sectors. The company is currently negotiating multiple contracts directly from his leadership in his business development capacity. HeadsUp is planning to make a series of announcements soon that will result in a direct path to revenue from these negotiations.
Last Thursday HeadsUp, through its Digital Marketing Team in Toronto, invested over $30,000 and launched a major online advertising campaign for player acquisition as part of its Affiliate Marketing Agreement with VIP Entertainment announced in the last press release. As previously stated HeadsUp terminated the LOI to acquire shares of VIP after Gaming Counsel advised that owning shares in a grey market sports book operation could cause HeadsUp to not be approved as a regulated sports book operator in the US and Canada which is the primary new initiative of the Company. It was agreed that the new agreement was the most strategic move to generate immediate revenues.
"We are building a solid foundation to grow HeadsUp into a leader in the media and gaming business" commented new CEO Doug Wilson, "and I look forward to sharing more of the new business plan concepts supported by market compliance, obtaining new gaming and broadcast licenses never before offered and going to market with the best interactive platforms that technology has to offer."
About HeadsUp Entertainment International Inc.
HeadsUp Entertainment International Inc. is a global gaming operator and media company focusing on online gaming, online poker, eSports, sports betting, online lottery, mobile 50/50, charity fundraising platforms and blockchain based payment solutions.
Forward-Looking Statements:
This news release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. When used in this release, words such as "estimate," "expect," "anticipate," "projected," "planned," forecasted" and similar expressions are intended to identify forward-looking statements, which are, by their very nature, not guarantees of HeadsUp Entertainment International Inc.'s future operational or financial performance, and are subject to risks and uncertainties. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Due to the risks and uncertainties, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements because of new information, future events or otherwise.
SOURCE HeadsUp Entertainment International Inc.
HeadsUp Entertainment International Inc., Investor Relations, (403) 269-9039, https://HeadsUpEntertainment.com
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