GOLDEN, Colo., June 13, 2007 (PRIME NEWSWIRE) -- HumWare Media Corporation (Pink Sheets:HMWM) is pleased to announce that the Company will be issuing a stock dividend of Evans Systems, Inc. stock to all HumWare shareholders of record as of July 31, 2007. The Company received shares of Evans Systems, Inc. in exchange for the rights to market and sell the Boondoggle Sports Network internationally.
HumWare Media Corp. shareholders of record, as of July 31, 2007, are expected to receive 1 share of restricted Evans Systems, Inc. stock for every 70 shares of HMWM they own as of the record date. HumWare Media Corp. shareholders will maintain their stock ownership of HMWM and, in addition, will receive shares of Evans Systems, Inc. Humware shareholders of record, as of July 31, 2007, must have at least 10,000 shares in HumWare Media Corp. to qualify. Evans Systems stock is currently trading at approximately $.15 per share.
"We are excited about the opportunity for our shareholders. We feel that this dividend will give our shareholders the opportunity to further their investment with HumWare and the Boondoggle Sports Network," stated John Huemoeller, CEO, HumWare Media Corporation.
Recently, HumWare Media has agreed to sell the International rights for the Boondoggle Sports Network to Evans Systems, Inc. for approximately 3.1 million shares of restricted common stock. Evans Systems will initially focus on establishing a presence in the United Kingdom and will utilize management's experience and contacts to expand into other European countries.
Evans Systems, Inc. (Pink Sheets:EVSY) and HumWare Media Corporation (Pink Sheets:HMWM) have signed a joint venture agreement with Quizzing Ltd., a United Kingdom LLC, to construct a UK version of the Boondoggle Sports Network (BSN). This venture will provide interactive trivia games with targeted advertisements to pubs, restaurants and other venues within the UK. Both companies will work to secure marketing and generate sales in the UK, with HumWare providing the technology for the Boondoggle Sports Network.
Quizzing Ltd. is the UK's National Quiz Organization, while also serving as the UK's branch of the International Quizzing Association. Quizzing Ltd. offers public relations and consulting services to businesses, as well as writing quizzes for newspapers and magazines. Quizzing Ltd.'s Web site has over 30,000 registrants in the UK alone, in addition to having held quizzing events in the UK since 2003. Quizzing Ltd. holds the World Quizzing Championships every year, and has the largest quiz Web site in the world.
About HumWare Media Corporation:
HumWare Media Corporation is an emerging out-of-home "new media" advertising company operating the Boondoggle Sports Network (BSN). BSN delivers interactive sports trivia and fantasy sports entertainment to the hospitality industry (bars, restaurants, golf courses, health clubs and hotels). The Company also operates unique fantasy sports contests and sells sports memorabilia through its wholly-owned subsidiary Timeless Sports Inc.
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.