New York, NY, July 10, 2010 – The Empire Sports and Entertainment Holdings Co. received proceeds of $1,686,200 through a private placement of common stock to a number of private investors. Palladium Capital Advisors, LLC served as the sole placement agent in the transaction.
The Company’s common stock is now trading on the OTC Bulletin Board (OTCBB) under the symbol “EXCX”. In accordance with the share exchange agreement, the surviving entity will keep the name, “The Empire Sports and Entertainment Holding Company”.
The Empire Sports and Entertainment Holding Co. is primarily engaged in the creation, promotion and distribution of sporting and other entertainment events. The Company generates revenue through ticket sales, televised events, and other promotional activities and currently has exclusive promotional agreements with numerous professional boxers.