BOCA RATON, Fla., April 17, 2008 (PRIME NEWSWIRE) -- Silverstar Holdings, Ltd. (Nasdaq:SSTR) a leading international publisher and developer of interactive entertainment software, announced it has received a letter from The NASDAQ Stock Market stating that while the company's issuance of $7.5 million 9% Convertible Debentures and warrants to purchase common stock (the "Transaction") did not comply with NASDAQ's shareholder approval rules pursuant Marketplace Rule 4350(i)(1)(D), the company had subsequently regained compliance by amending certain terms of the transaction. These changes are reflected in the Form 8-K filing of the amended terms of the transaction.
The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, regulatory approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the company's filings with the Securities and Exchange Commission.