LOS ANGELES, May 14, 2007 (PRIME NEWSWIRE) -- ProElite, Inc. (Pink Sheets:PELE), an entertainment and media company dedicated to producing world-class sporting events and empowering the participation of athletes and enthusiasts, today announced that the company's registration statement covering the resale of 13,273,999 shares has been declared effective by the SEC and that ProElite is now a fully reporting company.
Douglas De Luca, Chief Executive Officer of ProElite, Inc., stated that he is pleased to announce that there will now be publicly available information to the investment community regarding ProElite's activities, results of operations, and financial condition. Those interested in the company can visit www.proeliteinc.com for more information.
Based in Los Angeles, ProElite reaches fans and fighters of mixed martial arts (MMA) through ProElite.com and EliteXC. ProElite.com features live event streaming, and serves as a social network for MMA fans and fighters. EliteXC features live event broadcasts via the Showtime Network. A listing of upcoming events can be found at www.elitexc.com.
The company expects to produce and promote live events featuring some of the top fighters in MMA, while creating a grassroots MMA Internet community on ProElite.com. ProElite.com currently has more than 25,000 registered users in just three short months of going live.
Through its EliteXC subsidiary, ProElite staged its first live event broadcast on the Showtime, the premium cable channel in February at the Desoto Civic Center in Southaven, Mississippi. The company's next event is scheduled June 2, 2007 at the Los Angeles Memorial Coliseum, in collaboration with FEG USA, INC. This event will feature some of the world's best MMA fighters, including Hong Man Choi, Royce Gracie and Johnnie Morton. On June 22, 2007, ProElite's EliteXC, in conjunction with Strikeforce, will feature an MMA event at the HP Pavilion in San Jose, Calif. This event will be offered to home viewers through pay-per-view television.
About ProElite
ProElite is an entertainment and media company dedicated to producing world-class sporting events and empowering the participation of athletes and enthusiasts, through its two operating subsidiaries, ProElite.com(tm), an online community that provides content and tools for martial arts enthusiasts, and EliteXC(tm), a mixed martial arts live events production group. The company is dedicated to fostering the growth of the core principles of competition -- pride, spirit, honor and sportsmanship.
Certain statements included in this press release constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. These statements, including, but not limited to, the production and promotion of live events, as well as others discussed in the company's filings with the Securities and Exchange Commission, involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. ProElite, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.