EXHIBIT 2
FOR IMMEDIATE RELEASE
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POKER.COM INC. ACQUIRES POKERSOFT LICENSE FOR EXCLUSIVE
DEVELOPMENT OF SKILL POKER SYSTEM
VANCOUVER, CANADA, March 27, 2003 - Poker.com Inc. (OTCBB: PKER) announced today
that it has entered into a master license agreement with Pokersoft Corporation
A.V.V. of Curacao for the purpose of the exclusive development of the Skill
Poker system based on the Company's patent pending technology.
The Company will pay Pokersoft an initial license fee of US$30,000 and issue
3,000,000 shares in its common stock to Pokersoft. Pokersoft will receive a
royalty payment of 15% of the gross revenue received by the Company from
operating games using the patent pending technology. The development cost of
the system will be paid in addition to the above.
The provisional patent application filed with the United States Patent and
Trademark Office covers a system of determining the skill level in a tournament
setting for many different card games including all forms of poker and will by
operated by the Company's wholly owned subsidiary, Skill Poker.com Inc.
incorporated in the State of Washington. Once developed, Poker.com Inc.'s Skill
Poker card room will be the only legal online system of gaming with all
operations including the game servers located on North American soil.
Pokersoft is a software development company which has developed a premier multi
player poker software for the purpose of operating card rooms online which has
revealed dramatic improvement over the existing poker software systems on the
market.
Poker.com Inc. and Pokersoft have agreed on a development strategy integrating
the patent pending game logic of the Skill Poker system with the existing
Pokersoft software. The strategy involves development milestones which include
discovery, implementation, validation and beta testing leading to the launch of
the Skill Poker card room. These developments will be announced upon each stage
of completion in the weeks ahead.
In anticipation of a full scale marketing launch, Poker.com Inc. has inaugurated
www.skillpoker.com and invites players to view the page for further information
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on the development of the Skill Poker system and the pending release date of the
Skill Poker gaming portal.
With respect to the dispute involving the domain, www.poker.com, the Company
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announces that it has taken action against the parties involved in the Supreme
Court of British Columbia in one matter and are awaiting arbitration on another
matter. Poker.com Inc. remains hopeful of a positive resolution to the dispute
and will release details of the respective decisions as they occur.
On behalf of the Board of Directors,
Mr. Mark Glusing
President
THIS PRESS RELEASE MAY CONTAIN CERTAIN FORWARD-LOOKING INFORMATION AND
STATEMENTS CONCERNING THE COMPANY'S OPERATIONS, PERFORMANCE AND FINANCIAL
CONDITION, INCLUDING, IN PARTICULAR; THE ABILITY OF THE COMPANY TO DEVELOP THE
SOFTWARE TECHNOLOGY IN CONNECTION WITH THE PROVISIONAL PATENT; COMPETITION FROM
OTHER GAMING COMPANIES TO DEVELOP AND MARKET SKILL BASED GAMING IN NORTH
AMERICA; THE ABILITY OF THE COMPANY TO SUCCESSFULLY MARKET ONLINE GAMING SITES
THAT ARE FOR SKILL BASED GAMING. THESE STATEMENTS ARE BASED UPON A NUMBER OF
UNCERTAINTIES AND CONTINGENCIES, MANY OF WHICH ARE BEYOND THE CONTROL OF THE
COMPANY. ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE EXPRESSED OR IMPLIED
BY SUCH FORWARD-LOOKING STATEMENTS. THIS DOCUMENT IS NOT INTENDED TO BE AND IS
NOT AN ADVERTISEMENT FOR ANY SECURITIES OF THE COMPANY.
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For further information please contact:
Poker.com Inc.
Investor Relations
630 - 1188 West Georgia Street
Vancouver, B.C.
Canada, V6E 4A2
Tel: (604) 689-5998
Fax: 604) 689-8988
Email: nfo@skillpoker.com
Url: www.skillpoker.com