EX-99.1
3
v154891_ex99-1.htm
Jul
10, 2009, 4:30 p.m. EST
ProElite,
King of the Cage Close Strict Foreclosure Agreement
LOS
ANGELES, Jul 10, 2009 (BUSINESS WIRE) -- ProElite, Inc. (OTB:PELE.PK) said today
that it has closed a strict foreclosure agreement that returns King of the Cage,
the highly successful mixed martial arts brand, to its original owners Terry and
Julie Trebilcock. With the agreement, ProElite's outstanding debt to King of the
Cage has been satisfied; and King of the Cage, under the leadership of founder
Terry Trebilcock, again becomes an independent company with control over its own
extensive video library.
ProElite
CEO Charles F. Champion said that the agreement closed today and that the
financial and legal issues between the two entities have been completely
resolved.
ProElite
retains a number of prominent assets including a host of international MMA
brands such as Spirit MC, its community-driven interactive broadband
entertainment website, and an extensive library of MMA
events.
SOURCE:
ProElite, Inc.
Hud
Englehart
Beacon
Advisors, Inc.
312.280.8100

EX - 99 . 1 3 v154891 _ ex99 - 1 . htm Jul 10 , 2009 , 4 : 30 p.m. EST Pro Elite , King of the Cage Close Strict Foreclosure Agreement LOS ANGELES , Jul 10 , 2009 ( BUSINESS WIRE ) -- ProElite , Inc . ( OTB : PELE . PK ) said today that it has closed a strict foreclosure agreement that returns King of the Cage , the highly successful mixed martial arts brand , to its original owners Terry and Julie Trebilcock . With the agreement , ProElite 's outstanding debt to King of the Cage has been satisfied ; and King of the Cage , under the leadership of founder Terry Trebilcock , again becomes an independent company with control over its own extensive video library . Pro Elite CEO Charles F . Champion said that the agreement closed today and that the financial and legal issues between the two entities have been completely resolved . Pro Elite retains a number of prominent assets including a host of international MMA brands such as Spirit MC , its community - driven interactive broadband entertainment website , and an extensive library of MMA events . SOURCE : ProElite , Inc . Hud Englehart Beacon Advisors , Inc . 312 . 280 . 8100
O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B-Parties.SELLING_COMPANY I-Parties.SELLING_COMPANY I-Parties.SELLING_COMPANY I-Parties.SELLING_COMPANY O O O O O O O O O O O O O O O O O O O B-Parties.ACQUIRED_COMPANY I-Parties.ACQUIRED_COMPANY I-Parties.ACQUIRED_COMPANY I-Parties.ACQUIRED_COMPANY O O O O O O O O O O O O O B-Parties.BUYING_COMPANY I-Parties.BUYING_COMPANY I-Parties.BUYING_COMPANY I-Parties.BUYING_COMPANY O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O