Kenilworth Systems Signs Caribbean Venture
December 15 2010 - 8:00AM
Marketwired
Kenilworth Systems Corp. (PINKSHEETS: KENS) today announced a
significant agreement to advance the Company's international
expansion.
Dan W. Snyder III, President and CEO, said, "I'm pleased to
report today that our international subsidiary, KenSysCo
International Ltd., has entered into a definitive agreement with
Platinum Gaming Ltd, located in the Commonwealth of Dominica, West
Indies.
"Platinum's principals are well positioned within the
governmental and business structure of the Organization of Eastern
Caribbean States and have an excellent grasp of both regulatory and
business opportunities unique to the region. So we are pleased to
announce Platinum as our exclusive regional partner for the
countries within the OECS.
"For providing technology including patents to Platinum Gaming,
KenSysCo will receive a 10% equity interest in Platinum, plus 5% of
the net income from licensed gaming operators introduced and
sub-licensed by Platinum. Platinum will have responsible charge of
sub-licensing, regulatory compliance, and financial
settlement."
Managing Director of Platinum, Lennox Lawrence, Esq, stated, "We
appreciate the opportunity to deploy KenSysCo's advanced technology
in many suitable gaming operations in the Eastern Caribbean."
Kenilworth Systems Corporation is an integrated technology
corporation with intellectual property assets and technical
capabilities in the live online gaming sector. The Company is based
in Mineola, New York. KenSysCo International Ltd is a unit of
Kenilworth's subsidiary KenSysCo Corporation. The international
unit conducts operations related to use of the Kenilworth patents
by licensed gaming operators outside of the USA.
FORWARD LOOKING STATEMENTS
The information contained in this Press Announcement includes
"forward-looking" statements within the meaning of section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and is subject to the
safe harbors created thereby. Such information involves important
risks and uncertainties that could significantly affect results in
the future and, accordingly, such results may differ from those
expressed in any forward looking statements herein. Future
operating results may be adversely affected as a result of a number
of factors.
Contact: Kenilworth Systems Corporation Email Contact
Kenilworth Systems (PK) (USOTC:KENS)
Historical Stock Chart
From Sep 2024 to Oct 2024
Kenilworth Systems (PK) (USOTC:KENS)
Historical Stock Chart
From Oct 2023 to Oct 2024