Flash Sports & Media Holdings, Inc. (Nasdaq Flzh) Announces Non-Binding Letter Of Intent To Potentially Acquire Controlling Interest In Approximately $35 Million-Revenue Hospitality Group In An All-Preferred Stock Transaction

Flash Sports & Media Holdings, Inc. NASDAQ:FLZH:

• FLASH SPORTS & MEDIA HOLDINGS, INC. NASDAQ:FLZH ANNOUNCES NON-BINDING LETTER OF INTENT TO POTENTIALLY ACQUIRE CONTROLLING INTEREST IN APPROXIMATELY $35 MILLION-REVENUE HOSPITALITY GROUP IN AN ALL-PREFERRED STOCK TRANSACTION

• FLASH SPORTS MEDIA HOLDINGS - PURCHASE PRICE OF $51 MILLION TO BE PAID IN SERIES A PREFERRED STOCK