SUN Sports and Entertainment, Inc. (PINKSHEETS: SUNR) announced
today the new management team for SUNR's former wholly owned
subsidiary, Sports Radio Event Network, Inc. ("Sports Radio") and
new $5,000,000 Private Placement financing.
Sports Radio will be issuing 5,000,000 Shares of its Common
Stock at a price of $1.00 per share to accredited and institutional
investors effective after the Dividend Date of September 30, 2008.
The Company has 20,000,000 shares authorized and this financing
will represent a twenty-five percent equity ownership in the
company and the opportunity to adequately fund the future and
expansion strategies.
SUN Board of Directors agreed to spin this division off as a new
public company through a Stock Dividend Distribution as of
September 30, 2008 ("Record Date"). SUNR shareholders (as of the
record date) will be entitled to a Stock Dividend of one share of
Sports Radio for every ten shares of SUNR owned.
The new incoming management of Sports Radio is comprised of some
of the best industry sports and broadcast veterans, headed by
Michael "Mick" Bazuly as the new CEO.
Michael "Mick" Bazsuly -- CEO. Mick Bazsuly is a former NFL
sports agent, concert producer, and restaurant developer. He
regularly hosts Sports Radio and has produced the weekly business
show on The Beasley Network since 2004. As President of Wyndam
Media Group Inc, he has produced and hosted over 120 hours of radio
weekly. He has a background in marketing and over 30 years
experience in the financing and business world. Bazsuly has been
involved in many business and sporting events since the 1980s from
a concert promoter for the Eagles to other ventures. From the late
1970s through the 90s, Bazsuly worked as an established real estate
agent, and served as President of Southeast Development Corporation
Inc. (SDC), one of Florida's largest and most distinguished
development companies. SDC has produced some of the finest shopping
plazas, medical buildings, offices, and multi-family units within
the state.
Jeff DeForrest -- Lead Broadcaster & Consultant. Jeff
DeForrest is one of the most recognized names in Florida Sports
Radio. DeForrest has worked as a journalist, broadcaster, and TV
host, for over 25 years, and as a Southern Florida sports radio
host. Jeff has been a Florida Horse Racing host, a former voice of
the Miami Hurricanes, and a pre-game/play-by-play commentator for
the Miami Dolphins. DeForrest is also the ringside announcer for
HBO, Showtime and Warriors Boxing, often teamed with former champ
Glenn "The Road Warrior" Johnson and Al Bernstein and over 100
boxing titles events to 15 million Florida listeners each day. He
has worked for FOX, HBO, Showtime, NBC and several other major
sports stations. DeForrest co-hosts the "A" Team Morning Show on
Fox 640AM Radio in South Florida with Lesley Visser. Lesley Visser
is the only woman in the NFL Hall Of Fame, and a CBS writer and
broadcaster covering NFL and NCAA for at least 30 years. A pioneer
in broadcasting and a winner of the William Paley Award, she helped
pave the way for women in television. Visser has won numerous
awards in broadcasting as well as journalism. Presently, she writes
for CBS.com and is married to casting legend Dick Stockton.
Tom Kozlowski -- Vice President Marketing. Tom Kozlowski was the
youngest floor manager of any Casino in America at age 26. Before
founding his own marketing and consulting company, Tom managed
several resorts in Atlantic City, New Jersey. Working for Jay
Abraham, one of the world's largest and most successful consulting
companies, Tom helped expand sales for dozens of businesses. As
Vice President of Wyndam Media Group Inc, focusing on the New
Jersey and Philadelphia locations, for over 20 years, Tom has
covered televised sporting events and has become one of the most
recognized faces in television. Tom is a ringside commentator for
HCF and IFL MMA events. He is often a guest on other radio stations
and an authority on sporting productions.
Paul Missel -- Vice President Operations. Paul Missel is the
voice of New York, California, and Florida Horse Racing. Since
1998, Paul has co-hosted the Trivia Challenge radio show with Jeff
DeForrest. The show is currently rated number one in the state of
Florida. He is a voice of the Calder Race Course, Gulfstream Park,
and Flagler Dog Track. For 25 years, he has been a jockey and an
agent representing the best in the business. He is a ringside color
commentator as well as blow-by-blow announcer.
Michael Fernandes -- Vice President Production. Michael
Fernandes works as camera consultant, editor, and senior advisor
for film productions for some of the world's largest sporting
events. He is a team player and has worked for such companies as
ESPN, FOX, MSNBC, and the Sunshine Network. When it comes to tough
jobs in the television industry, Michael Fernandes is always in
high demand.
Sports Radio event broadcast service provides live audio content
over a multi-channel network. The signal originates from live TV,
cable, satellite and radio programs to exclusive branded
commemorative radios. The company also has the ability to produce
and broadcast its own custom content. To date, Sports Radio has
provided its service to more than 40 professional and collegiate
sporting events for organizations such as the NFL, NBA, NHL and
NCAA.
Sports Radio provided its In-Broadcast Radios for the 2008 NFL
Super Bowl, one of the most watched sporting events in the world.
Sports Radio also provided its In-Broadcast Radios for the
2008-2009 NFL Draft held at Radio City Music Hall in New York on
April 29th - 30th 2008.
Sports Radio plans on broadcasting live data feeds on a new type
of radio receiver. This will utilize new Radio Frequency technology
enabling a feature-enhanced event broadcasting service.
ABOUT SPORTS RADIO:
Sports Radio Event Network Inc. provides in-stadium event
broadcasting services over a multi-channel network that originates
from live TV, cable, satellite, and radio programs to commemorative
radios. Sports Radio has provided its service to professional and
collegiate sporting events for organizations like NFL, NBA, NHL and
NCAA. Coming soon (www.sportsradiobroadcast.com).
ABOUT SUN:
SUN Sports & Entertainment, Inc. is a Professional Mixed
Martial Arts Event Promotion Company specializing in concept-driven
MMA events. SUN is a Certified and Licensed Combative Sports
Promoter that produces World Class MA Events. "Art of War" is a
registered trademark (www.artofwarLIVE.com).
Safe Harbor Statement -- This release includes forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 27E of the Securities Act of 1934. Statements
contained in this release that are not historical facts may be
deemed to be forward-looking statements. Investors are cautioned
that forward-looking statements are inherently uncertain. Actual
performance and results may differ materially from that projected
or suggested herein due to certain risks and uncertainties
including, without limitation, ability to obtain financing and
regulatory and shareholder approvals for anticipated actions. Such
statements are based on management's current expectations and are
subject to certain factors, risks and uncertainties that may cause
actual results, events and performance to differ materially from
those referred to or implied by such statements. In addition,
actual or future results may differ materially from those
anticipated depending on a variety of factors, including continued
maintenance of favorable license arrangements, success of market
research identifying new product opportunities, successful
introduction of new products, continued product innovation, sales
and earnings growth, ability to attract and retain key personnel,
and general economic conditions affecting consumer spending.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof.
SUN Sports & Entertainment Inc. does not intend to update any
of the forward-looking statements after the date of this release to
conform these statements to actual results or to changes in its
expectations, except as may be required by law.
For Further Information Contact: April Rain
arain@sunorganization.com
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