This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

ProGaming Platforms Corp. Executes Share Swap Agreement With BioMedix Ltd.

NEW YORK, February 18, 2013 /PRNewswire/ --

ProGaming Platforms Corp. ( OTCQB: PPTF), an Israeli-based developer of a commercial multiplayer online gaming and reward processing platform, today announced that it has entered into a share swap agreement with BioMedix Ltd., a publicly traded company on the Tel Aviv Stock Exchange (TASE). BioMedix, a leading Medical Device/Technology incubator, has agreed to purchase 1,229,055 restricted PPTF shares at a valuation of $.16 per PPTF share, via share swap of its publicly traded Israeli subsidiary, Gefen Biomed Investments Ltd. (GEFEN: TASE). In connection with this share swap transaction; PPTF received 921,790 shares of Gefen, which values the PPTF shares at $.16

The transaction with BioMedix was disclosed at the IL Maya system (Israeli SEC website) and can be viewed (in Hebrew) at:

http://maya.tase.co.il/bursa/report.asp?report_cd=790991-00&CompCd=368&Type=Pdf

Erez Zino, ProGaming's CEO, stated "ProGaming continues to progress in its efforts to bring added value to our shareholders. The funding that we receive upon from our sale of our Gefen shares will be used to enhance our ability to add personnel and acquire resources to augment our existing technology as well as to fund additional joint venture projects with strategic partners. We plan during the forthcoming weeks to continue to update our shareholders and the investment community with regard to our acquisition program."

Mr. Zino further stated that "ProGaming is continuing its efforts to improve cash flow, which will also improve our financial condition and should result in share price appreciation. Our long-term plan includes seeking to upgrade our share listings to higher level exchanges including foreign listings in the future."

About ProGaming Platforms Corp : ProGaming Platforms has developed what it believes is the ultimate gaming platform for the Internet's ultimate games. The platform automatically and accurately determines game winners from an unlimited pool of players and automatically pays monetary reward payouts. The platform can be integrated into any existing billing system, can be licensed by any online gaming provider and can sit on any third-party server. In addition, Progaming has developed a proprietary "state-of-the-art" multiplayer puzzle game which is integrated with its unique GER technology to match the Social media gaming needs.  

Learn more about ProGaming Platforms Corp. at http://www.progamingcorp.com. And http://www.progamingcorp.info for our products demonstration

About Biomedix and Gefen : Biomedix and its subsidiary, Gefen, are Israel-based, publicly-traded companies listed on TASE.  Biomedix is an investment management company focused primarily on Israeli-based Medical Device and Technology companies, from early stage to later stage/mature companies presenting high growth potential. Biomedix controls two of Israel's largest incubators, ATI and Meytav, as well as a late-stage investment entity, SpearHead. Gefen's risk management leverages its investment funds through the Israeli incubator program under the direction of the Office of the Israel Chief Scientist.

More information on BioMedix and Gefen can be found at: http://www.biomedixincubator.com and

http://www.gefenbiomed.com/, respectively

Forward-Looking Statements:

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,698.18 -77.94 -0.44%
S&P 500 2,059.69 -8.20 -0.40%
NASDAQ 4,880.2280 -20.6570 -0.42%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs