SANFORD, MI, Dec. 21, 2017 (GLOBE NEWSWIRE) --
HPIL HOLDING (the “Company”) (OTC Pink: HPIL) has been informed by its licensor the World Traditional Fudokan Shotokan Karate-Do Federation (WTFSKF) has changed its name to the World Traditional Okinawa Karate Federation (WTOKF) and its website to http://WTOKF.org
The name was changed to the World Traditional Okinawa Karate Federation (WTOKF) as the new name encompasses the different types of Karate practiced in the world. The WTOFK is the World Karate Governing Body.
The WTOKF is recognized by the United Nations Office on Sport for Development and Peace (UNSODP) and by the Olympic Committee. The 2020 Summer Olympics are in Tokyo, Japan and Karate is a recognized sport for the first time in the history of the Olympics.
The previously announced agreements between the WTFSKF and HPIL HOLDING will continue and remain valid with the WTOKF. The agreement remains valid until December 31, 2042. The WTOKF has begun working on the initial planning for the sport at the 2020 Tokyo Olympics. The 2018 European Karate Championship will be held in Rome, Italy in October 2018.
HPIL HOLDING will continue it support of the WTOKF and its sponsorships of the World and European Karate Championships. HPIL is looking forward to the 2020 Tokyo Olympics and will support the WTOKF in its planning and work.
The WTOKF has also nominated and confirmed the appointment of Mr. Nitin Amersey, Chairman and CEO of HPIL HOLDING to the post of Honorary President of the WTOKF valid until August 31, 2021. Mr. Ionel Bara, the President of the WTOFK, said, “We are well aware of the support and contribution of Mr. Amersey, Chairman of HPIL HOLDING, to the future continuous development of our federation, which contributes, together with other sports, to the formation of youth and their progress and especially to a healthy human nature and attitude.”
Mr. Amersey said, “We look forward to working with the WTOFK and in developing the brand of the WTOKF and in promoting the brand and the sport of karate to the youth and the athletes of all ages and sexes. The aim of karate is not in winning or losing at the sport but in the development of courage and honor along with respect and discipline in life.”
Mr. Amersey also indicated, “HPIL HOLDING is actively working to develop the Karate brand initially in America and Canada followed by Europe and other nations of the world where Karate is practiced. We want to build value in the brand and assist in its development by striking licensing arrangements and sponsorships with Companies throughout the world. We expect to develop the brand for licensed merchandise in apparel and other categories as well as in the TV and video space. We have also now actively begun to look at developing an online Karate game.”
Mr. Sam Kelley, CEO of Royal Blue, (See August 10, 2017 press release) said, “We are actively developing merchandise with the WTOKF brand for the North American market. We will be donating a percentage of sales to a charity that helps in developing the spirit and honor of the individual through the sport of karate. We see a significant market emerging in WTOKF branded merchandise developing in America and we expect to see significant revenues.”
HPIL HOLDING (http://HPILHOLDING.COM) is a holding company listed on OTC Markets.
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