DALLAS, June 14, 2012 /PRNewswire/ -- LIG Assets, Inc. (PINKSHEETS: LIGA) is pleased to announce that a newly constructed website is completed for its subsidiary SuiteMagic at www.SuiteMagic.tv. The website clearly displays and communicates SuiteMagic's product offerings and strategic advantages. Additionally, LIG Assets confirms its plans to acquire First Run Multimedia Corp. and announces that the closing date for the acquisition was changed from June 4, 2012 to July 20, 2012 under the same terms previously announced last month.
First Run Multimedia Corporation has been providing movies to the lodging industry and private cable television to hotels and apartment buildings for over 22 years. More information about the Company can be found at www.firstrun.ca. It is estimated that First Run contracts its services to include over 3000 hotel rooms in mostly small to medium size hotels and motels. LIG Assets expects this acquisition to be a fantastic compliment to SuiteMagic; a Company that LIG Assets retains about 45% ownership after its recent stock dividend to shareholders.
SuiteMagic is a technology entertainment services company providing internet-based TV and Cable programming, interactive game content, and goods and services. It will deploy hardware and software to create an enhanced television suite of offerings that combine the best of HD TV, the Internet, PC functionality and VOD. The product provides hotel guests with an all-encompassing in-room experience while allowing hoteliers to monetize the rapidly growing consumer trend towards a truly Internet-integrated TV experience.
About LIG Assets, Inc.
LIG Assets, Inc., based in Dallas, TX, is a multi-faceted worldwide investment company that focuses on real estate, technology, entertainment and other sectors of the economy. We are a proactive company that is committed to providing opportunities in all structures of the economy and are always welcoming new opportunities. LIG Assets, Inc. trades on the pink sheets under the ticker symbol "LIGA".
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file with the U.S. Securities and Exchange Commission (SEC).
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