ORLANDO, Fla., June 6, 2005 (PRIMEZONE) -- The World Golf League, Inc. (OTCBB:WGFL) announced today that it has received a financing commitment of up to $3,000,000 for the production of the upcoming Million Dollar Shootout Reality Television Series. A group of private investors will provide the funding in exchange for preferred stock in the WGL, Inc. The funding will be available beginning August 1, 2005.
"This is the final component to making the MDSO reality and allowing the WGL, Inc. to retain all ownership rights to the series," said Mike Pagnano, CEO of The WGL, Inc. We now have the capacity to commence with the full production of the MDSO, which will be scheduled for October 2005 in Las Vegas, Nevada," Mr. Pagnano went on to say.
The World Golf League markets a professional golf concept, through wholesale distribution channels in the USA, which allow average golfers to play for substantial prize money in local and regional tournaments culminating with a PGA-style national championship. The WGL also produces the WGL Million Dollar Reality Television Concept. The WGL has awarded over $1,000,000 in prize money to date.
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