Science & Technology
Science and Technology
Science and Technology
Thu, May 27, 2010 
MESA, Ariz.--([ BUSINESS WIRE ])--B2Digital (Pink Sheets: BTDG) (aB2Digitala or athe Companya) is pleased to update its shareholders with recent corporate developments and a confident new plan. Since earlier this year, the Company has been ambitiously developing a new business strategy to optimize the company's opportunities, resources and expertise in an effort to benefit from current market conditions in both the technology and natural resource industries. As a result, the Company has retained experienced personnel in the mining industry, developed strategic alliances, evaluated several investment opportunities in silver mining, and initiated discussions for potential funding, all which have resulted in a reinvigorated plan.
The elements of B2Digital's new business strategy, generally, are described as follows:
Phase 1 -- Reduce existing debt associated with the current technology business while shutting down unprofitable endeavors. In the best interest of the Company, the Board of Directors of B2Digital voted to retire $800,000.00 of Debt, to include incurred interest. On March 22, 2010, the Board of Directors approved a Limited Assignment Agreement for the purchase of 100% of a Promissory Note dated April 16, 2004. To retire this debt the Company has agreed to issue 800,000,000 shares of B2Digital common stock restricted under Rule 144.
The Company has elected to close its subsidiary Hotel Movie Network, process any new business in this sector through the main company, and is evaluating whether to proceed with a modified Letter of Intent with Mob Candy Media. B2Digital as a technology development and media company continues to maintain its installed network in conjunction with a joint venture partner, Coast Communications, an Arizona company with several franchised coverage areas covering potentially 42,000 homes, for the provision of rural internet services, subject to funding.
Phase 2 -- Acquisition of silver properties that have production potential or favorable exploration prospects. On March 18, 2010, the Board of Directors of B2Digital approved the Share Exchange Agreement with Castle Creek Silver, Inc. B2Digital will exchange 1,800,000,000 shares of B2Digital common stock restricted under Rule 144 for 6,000,000 common shares of Capital stock of Castle Creek Silver, Corp. representing 100% of the issued and outstanding shares. BTDG will assume no debt or liabilities. New leases for mining properties are currently being negotiated and assumed by BTDG through its wholly owned subsidiary Castle Creek Silver, Corp. Additionally, the Company is presently performing due diligence of properties for potential acquisition. The Company has identified opportunities by focusing on projects it believes have exploration or production potential. B2Digital expects to complete its assessment, and make an announcement regarding its participation of these properties as appropriate.
About B2Digital
B2Digital is a technology development company with interests in various media sectors involving the use of B2Digitala™s technology development experience, which is dedicated to shareholder value through the acquisition and development of promising 21st century businesses, within the technology sector and outside of the technology sector.
About Castle Creek Silver
Castle Creek's strategy is to become a mid-tier silver producer through an aggressive acquisition and development plan focused on advanced-stage projects with known silver resources exhibiting potential for expansion. Castle Creek Silver is primarily focused on pursuing early and advanced stage silver-based opportunities in North America, South America, and Mexico.
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result certain risk and uncertainties, including but not limited to those detailed from time to time in the Companya™s filings with the Securities and Exchange Commission.
