TORONTO, Oct. 17, 2005 (PRIMEZONE) -- Ofek Capital Corp. (Pink Sheets:OFCC) announces that it has entered into an agreement to acquire 100% DB Entertainment, in an all share exchange transaction.
This acquisition is in line of the implementation of Ofek's new business mandate to acquire operating assets and establish itself as a management and holding company.
This acquisition is the first for the entertainment group Ofek is creating. Management expects, in time, to bring in additional operations within the entertainment sector. Closing is expected during the first quarter, ending January 31, 2006, after Ofek completes its due diligence.
DB Entertainment, headed by David Bronstein, is a direct response communication and marketing company focusing on the television infomercial segment.
David Bronstein is a self proclaimed "King of Late Night TV", "Prince of Love" and "Prince of Poker" and is known as a television infomercial personality as well as for his Dial-A-Date infomercials during the late 90s.
Bronstein has also appeared in few movies; on CBC's Toronto After Hours, on YTV and USA Cable Network's Dog House, and on the syndicated film trailer show Hollywood Camera.
Projects currently in different development stages include The Pitchman, a new reality show; the completed production of a 30 minutes infomercial Million Dollar Poker System pursuant to deals with The Players Network of Las Vegas and King Entertainment, with Northern Response, Canada's largest Direct Response TV company to air the infomercial in Canada and Internationally and King Media will air the infomercial in the USA.
Bronstein can be seen on Bite TV with his Bronstein Bites, Poker Tips.
About Ofek Capital
Ofek www.OfekCapital.com is a management and holding company, operating through its subsidiaries.
-- Ofek has a significant interest in Kaptor Financial Inc., an
Ontario based financial services enterprise, providing merchant
banking and automotive financing.
-- Ofek expects to offer, through DB Entertainment
www.DavesTVDeals.com, direct response communication and marketing
servicing the television infomercial segment.
-- Ofek is currently evaluating a number of equity prospects. Ofek
expects completed acquisitions to enhance its balance sheet and
shareholders' value
This release contains forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, which reflect management's expectations regarding Ofek's future growth, results of operations, performance and business prospects and opportunities. These statements reflect management's current beliefs and are based on information currently available to management. Forward-looking statements involve significant risks, uncertainties and assumptions. A number of factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Ofek and its management take no obligation to update or correct any or such forward-looking statements.