DUBLIN, March 5, 2013 /PRNewswire/ -- World Assurance Group, Inc. (www.worldassurancegroup.com) (WDAS.PK) today announces that it recently completed the acquisition of Cellad, Inc., a development stage company operating in the newly significant and rapidly growing global "mobile advertising" industry. Full details of the transaction can be found at www.otcmarkets.com/stock/wdas/filings.
Cellad is a digital media company based in Ireland that has developed, along with its partners, a revolutionary advertising platform that allows advertisers and brands to deliver high definition, full screen adverts, coupons and click-through offers to subscribers every time that subscriber receives an inbound call or text message on their smartphone. Advertisers can directly manage content, and campaigns to chosen demographic and geographic audiences using advances in location based technologies and smartphone applications. Cellad will pay a fee – in cash or points – directly to subscribers for every advert displayed on their smartphone once they have registered and downloaded the app.
Mr. Sean McVeigh, the new CEO of World Assurance Group, said, "We are very pleased to have completed our transaction with WDAS, which we believe will provide us the platform to exploit this huge opportunity. The global mobile advertising market is experiencing unprecedented growth as the usage of smartphones has ballooned in recent years and that trend is set to continue for the foreseeable future. Leading market analyst firm Gartner sees the global mobile advertising market reaching $20 billion per year in the next three years alone and we strive to be a significant player in this new and exciting market going forward."
About World Assurance Group
World Assurance Group, Inc. is a holding company that currently operates through two wholly owned subsidiaries: Cellad, Inc., a digital media company based in Ireland operating in the global mobile advertising industry and ANAV Holdings Corporation, a development stage real estate investment company in the United States. Cellad has developed, along with its partners, a revolutionary new cloud based advertising platform that allows advertisers and brands to deliver high definition, full screen adverts, coupons and click-through offers to subscribers via its smartphone application. Once installed, every time the subscriber receives an inbound call or text message Cellad will pay the subscriber a fee in the form of cash or other agreed medium. Additional information may be found at www.worldassurancegroup.com
This press release contains forward-looking statements. Words such as "expects", "intends'', "believes'', and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, the ability to secure additional sources of finance, the ability to reduce operating expenses, and other factors described in the Company's filings with the OTC Markets Group. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE World Assurance Group, Inc.