HeadsUp Entertainment Continues Moving Forward

Rhea-AI Summary

HeadsUp Entertainment International Inc. (HDUP) announced significant progress on multiple fronts as of August 25, 2020. The company’s OTC Markets account has been approved for reactivation, allowing for the upload of required materials for fully reporting status. An Engagement Letter has been executed with auditors to prepare financial statements for compliance with Alberta's CTO removal. Furthermore, HeadsUp is finalizing a media partnership, closing a UK Gaming license agreement, and developing two new online gaming platforms. An LOI for acquiring a licensed gaming operator is expected to be announced by September 4.

Positive

• OTC Markets account approved for reactivation, enhancing trading potential.
• Engagement with auditors to prepare audited financial statements for compliance.
• Finalizing a global media partnership and closing a UK Gaming license agreement.
• Development of two new online gaming platforms, indicating growth potential.
• LOI for acquiring a licensed gaming operator may expand market presence.

Negative

• Awaiting access codes from OTC Markets could delay financial uploads.
• Existing CTO in Alberta may limit trading until removed, affecting liquidity.

LAS VEGAS, Aug. 25, 2020 /PRNewswire/ - HeadsUp Entertainment International Inc. (Pinksheets: HDUP.PK) announces today that it continues to move forward on multiple fronts to build operations and increase shareholder value.  On August 18^th, the Company's account with OTC Markets was approved for reactivation and associated fees were paid. We are now awaiting the access codes to upload all required materials to meet requirements for fully reporting status. 

On August 20^th, HeadsUp executed an Engagement Letter with its auditors to prepare audited financial statements for the past 2 years as part of its compliance protocol for application to remove the CTO in Alberta to allow for all Canadian brokerage firms to be able to trade the stock

The Company is also vetting new members to the Board of Directors and Management Team, finalizing a global media partnership for its new areas of operations, closing a UK Gaming license agreement and developing 2 new online gaming platforms to be announced soon. 

As previously announced, an LOI to acquire an existing Licensed Gaming Operator is being finalized and will be announced on or before September 4^th even if OTC Markets has not sent the Company the access code to upload its financial statements.

The Company's new webpage https://headsupentertainment.com went live yesterday and we encourage everyone to follow the new Corporate Twitter account @HeadsUpHDUP for the latest updates and news.

About HeadsUp Entertainment International Inc.

HeadsUp Entertainment International Inc. is a global gaming operator and media company focusing on online gaming, online poker, eSports, sports betting, online lottery, mobile 50/50, charity fundraising platforms and blockchain based payment solutions.

Forward-Looking Statements:

This news release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. When used in this release, words such as "estimate," "expect," "anticipate," "projected," "planned," forecasted" and similar expressions are intended to identify forward-looking statements, which are, by their very nature, not guarantees of HeadsUp Entertainment International Inc.'s future operational or financial performance, and are subject to risks and uncertainties. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Due to the risks and uncertainties, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements because of new information, future events or otherwise.

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SOURCE HeadsUp Entertainment International Inc.

FAQ

What is the latest update from HeadsUp Entertainment International Inc. (HDUP)?

HeadsUp announced progress on reactivating its OTC Markets account and is preparing audited financial statements for compliance as of August 25, 2020.

When will HeadsUp Entertainment announce the acquisition of a licensed gaming operator?

The announcement regarding the acquisition of a licensed gaming operator is expected by September 4, 2020.

What new developments are happening in HeadsUp Entertainment's business?

HeadsUp is finalizing a global media partnership, closing a UK Gaming license agreement, and developing new online gaming platforms.

What is the significance of the OTC Markets reactivation for HDUP?

The reactivation of the OTC Markets account allows HeadsUp to upload necessary financial materials, which is crucial for achieving fully reporting status.