NEW YORK, June 1, 2011 (GLOBE NEWSWIRE) -- The Empire Sports & Entertainment Holdings Co. (OTCBB:SAGE) announced today that the Company has changed its name to Sagebrush Gold Ltd. Also, effective May 31, 2011, the Company's common stock began trading under a new symbol, "SAGE," on the OTC Bulletin Board.
The name change reflects the Company's expansion of its business model to include resource exploration and production, primarily focusing on gold exploration. Initially, the Company will focus on acquiring the right to explore for and develop gold properties in highly productive regions of North Central Nevada. The Company intends to continue, through its subsidiary, The Empire Sports & Entertainment Co., its current sports and entertainment businesses, including its upcoming promotion of the Capital Hoedown featuring Carrie Underwood and Kenny Chesney.
Commenting on the name change, Sagebrush Gold's Co-Chairman of the Board, Barry Honig, said, "We are very excited to pursue and invest in new opportunities in the mining and exploration industry. We created this new subsidiary to diversify our business model as we see tremendous upside in the gold industry right now and for the foreseeable future. We believe that this division will ultimately have a very positive effect on the company and our stakeholders. Additionally, we will continue to engage in the sports and entertainment industry through The Empire Sports and Entertainment, which will now be a wholly-owned subsidiary of the company."
Legal Notice and Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of the Company set forth herein and those preceded by or that include the words "believes," "expects," "given," "targets," "intends," "anticipates," "plans," "projects," "forecasts" or similar expressions, are "forward-looking statements." Although the Company's management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. The Company assumes no obligation to update any of the information contained or referenced in this press release.