GameZnFlix Acquires DVDavenue, LLC
FRANKLIN, KY -- (MARKET WIRE) -- 02/10/06 -- GameZnFlix, Inc. (OTC BB: GZFX), an online provider of DVDs and video games for rent or purchase, today announced it has acquired DVDavenue, LLC., an online provider of DVDs for rent, based near Washington D.C.
Financial terms of the transaction were not disclosed.
"This is a great acquisition for GameZnFlix as this will result in increasing our membership base, acquiring thousands of titles and adding a new distribution facility," said Donald "Chip" Gallent, President of GameZnFlix.
"We feel that consolidation of the online DVD rental market is overdue and that becoming part of GameZnFlix offers our customers more value per rental dollar spent," said Richard Thomas, Managing Partner of DVDavenue, LLC.
As part of the transaction, existing DVDavenue customers will be transitioned over to GameZnFlix's service. The transition is slated to be completed within 30 to 60 days.
GameZnFlix Chairman and CEO John Fleming added, "As we grow our business model we will continue to look for acquisitions where there is a solid business fit. The DVDavenue acquisition met our requirements and the management of both companies see the benefits for members of both services."
GameZnFlix is a company that offers video games/DVD movies for rental or purchase on the Internet with access to over 40,000 games and movie titles. With different membership levels beginning at $8.99 a month subscribers can rent a combination of both video games and/or DVD movies with no late fees or due dates or members can purchase video games and/or DVD movie titles at a membership discount.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward looking statements are further qualified by other factors including, but not limited to those set forth in the company's Form 10-KSB filing and other filings with the United States Securities and Exchange Commission (available at http://www.sec.gov/). The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
For further information, please contact GameZnFlix, Inc. corporate offices
at
1 (888) 542-6817
Source Website: www.gameznflix.com
Grüße, ZN
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