Totally Hip Technologies Inc.: Poker Website to be Developed
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 8, 2006) - Totally Hip Technologies Inc. (TSX VENTURE:THP) is pleased to announce it has entered into an agreement for the Joint Venture development of an online poker site tentatively named "totallyhippoker.net".
Totallyhippoker.net
This site will be a for fun, interactive poker site where players of all ages can play and learn Texas Hold'em and other poker games. The site is being designed to allow an unlimited number of players to participate either online through personal computers or on wireless devices such as cell phones and PDA's. Totally Hip is exploring several unique site configurations and designs.
Television coverage of championship poker, celebrity tournaments and the now famous "World Series of Poker" has ignited interest in online poker sites for both fun and play. It has been reported that online poker is the fastest growing segment on the Internet. With internet connectivity now commonplace, thousands of players of all skill levels go online to learn about, play or practice poker. Totally Hip's technical expertise in bringing compelling digital imagery to the internet will add a new dimension to interactive game play. This Joint Venture combines Totally Hip's experience developing interactive Rich Media solutions with the popularity of online and mobile device game play.
Totally Hip will contribute technical assistance, intellectual property and initial funding of up to $200,000 to the development of the site, purchase of assets and marketing and planning. Totally Hip has agreed to issue 550,000 common shares at a deemed price of $0.80 per common share to acquire a 50% interest in totallyhippoker.net upon the site becoming operational.
Totally Hip will retain ownership and all rights to interactive and immersive content it develops for the totallyhippoker.net application and for other poker sites. This joint venture development of totallyhippoker.net is subject to further due diligence, a definitive Joint Venture agreement, approval by the Board of Directors, regulatory approval and acceptance for filing by the TSX Venture Exchange.
Michael Ross Appointed Director
Totally Hip Technologies Inc. is pleased to announce that in connection with this venture, Mr.
Michael Ross has been appointed to the Board of Directors. Mr. Ross, a Financial Systems Engineer, has over 10 years experience in the development and deployment of technology driven businesses.
Rich Media Applications
Totally Hip's primary business is software development and providing professional applications and services in the interactive Rich Media sector. Totally Hip delivers Rich Media applications and services under its developing brand "iROCTM". iROCTM combines Totally Hip's award winning proprietary software with custom enhancements to create and fulfill client's interactive Rich Media requirements. The iROCTM team produces and deploys Rich Media experiences that seamlessly integrate images, animation, video, audio and virtual tours all with interactive features.
James Boyce, Director
Totally Hip Technologies Inc.
12g3-2(b): 82-4556
This release may contain forward-looking statements that involve risks and uncertainties. Words such as "anticipates", "expects", "intends", "plans", "believes", "may", "will" and similar expressions are intended to identify forward-looking statements. Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are Totally Hip's ability to develop, complete, introduce, market, distribute and gain market acceptance for its products and technologies in a timely manner, announcements of technological innovations, new products or product enhancements by Totally Hip or its competitors; general market conditions; and other factors that may impact the Company or its business opportunities including factors detailed in Totally Hip's filing with the Securities and Exchange Commission.
Press Release - 2006-03-09 03:29:53