TORONTO, Aug. 29 /PRNewswire-FirstCall/ -- TrackPower, Inc. (OTCBB: TPWR), held its Annual General Meeting, August 28, 2008, during which a merger between TrackPower and Gate to Wire Solutions, Inc. (G2W) was approved by shareholders, along with a 100 to one share consolidation upon completion of the union.
G2W is a Nevada corporation and wholly-owned subsidiary of TrackPower. It is a comprehensive service provider and advisory organization to horse racing and pari-mutuel wagering interests in Latin America, comprised of seasoned industry executives whose combined experience is being re-focused on the Latin American horse racing industry.
G2W was founded in 2008 to improve upon and further develop the horse racing industry in Latin America through the deployment of modern technology, North American experience and sound operational methodologies. By focusing a team of industry professionals who possess decades of experience in horse ownership, breeding, racing and racetrack operations, G2W has the ability to develop and implement upgrades to client facilities aimed at maximizing revenue and patron experience, providing scalable, turnkey solutions to existing operations, and/or innovative and efficient, state-of-the-art solutions to new enterprises.
Upon completion of the merger, TrackPower will be changing its name to Gate to Wire Solutions, Inc. Pending all necessary approvals, the Company's stock symbol will also change to represent the newly reincorporated public identity. The Company will advise its shareholders of the symbol change once it has been confirmed and announced by the NASDAQ OTCBB.
Additionally, upon consummation of the reincorporation, each one hundred (100) outstanding shares of the Company's common stock will be converted into one (1) fully paid and non-assessable share of outstanding common stock of G2W.
This release includes projections of future results and "forward-looking statements" as that term is defined in Sections 27A of the Securities Act of 1933 as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934 as amended (the "Exchange Act"). All statements that are included in this release, other than statements of historical fact, are forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from the expectations are disclosed in this release, including, without limitation, in conjunction with those forward-looking statements contained in this release.
CONTACT: TrackPower Inc., John Simmonds, Chairman and CEO, (905) 833-9845 ext. 223, (905) 844-9847 (FAX), jgs@trackpower.com
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