Exhibit 99.13
TrackPower and Post Time Sign Exclusive Agreement
New York, New York - Tuesday, May 15, 2001, 4:03 PM EDT -- TrackPower receives
Worldwide Distribution Agreement for
the RaceVision(TM) Kiosk Service --
TrackPower, Inc. (OTCBB: TPWR) announced today that the company has entered into
an Exclusive Worldwide Distribution Agreement with Post Time Technologies, Inc.
(PTT). TrackPower will become the exclusive re-seller of PTT's RaceVision(TM)
Kiosk product when combined with an ATM solution in a Harness racetrack.
RaceVision(TM) is a Horseracing video replay and archiving service available to
customers via a kiosk located within a racetrack or gaming facility.
The details of the agreement are as follows. PTT will receive 100,000 common
shares of TrackPower as a commission for every location that places ATM's. The
non-ATM Kiosk profits will be shared between TrackPower, PTT and the racetrack.
PTT and TrackPower will each receive an equal share of the ATM revenues. The
companies will also enter into a non-compete and management services agreement,
as well as other co-operative initiatives.
Xxxx X. Xxxxxxxx, Chairman of TrackPower, stated, "We are very excited about
working with Post Time and seizing this opportunity to combine their RaceVision
Kiosk product with the ATM." Xx. Xxxxxxxx added, "The strong relationships and
market position of Post Time will allow TrackPower a swift entry into the
harness tracks with a leading-edge product that will not only enhance the racing
experience, but also generate revenues to the facility."
Post Time Technologies (PTT), is a privately owned Las Vegas, Nevada company
formed to research and develop proprietary technology based products for the
International racing and gaming industries. PTT's first product to market was
RaceVision(TM), a digital replay and racing information system. RaceVision(TM),
'more than just a replay system', is the only digital replay system available
that integrates Race Replays with Past Performance, Entries, Results and Payoff
information, as well as official Photofinish images. The entire system is
operated remotely from Post Time's control center. Races are captured live (from
satellite) at PTT's Vancouver, Canada facility, then processed and transmitted
back to PTT servers located at racetracks and Off Track Betting facilities
(OTBs). Designed to be delivered through touch screen Kiosks, information is
processed and delivered back to the system literally within minutes of the
finish of each race. Post Time Technologies also recently launched its
interactive racing portal, XxxxxXxxxxx.xxx(TM), which provides racetracks with a
turnkey solution for broadcasting their live races and replays on the Internet.
More information is available at xxx.xxxxxxxxxxxx.xxx.
TrackPower, Inc. combines leading-edge kiosk technology with ATM's to
effectively deploy integrated information services at racetracks, OTB's, and
other gaming facilities. The kiosk/ATM system will deliver information, cash,
advertising content, loyalty programs, integrated race information, entries and
results, live and archived video, e-commerce and other future applications.
This release includes projections of future results and "forward-looking
statements" as that term is defined in Sections 27A of the Securities Act of
1933 as amended (the "Securities Act"'), and Section 21E of the Securities
Exchange Act of 1934 as amended (the "Exchange Act"'). All statements that are
included in this release, other than statements of historical fact, are
forward-looking statements. Although management believes that the expectations
reflected in these forward-looking statements are reasonable; it can give no
assurance that such expectations will prove to have been correct. Important
factors that could cause actual results to differ materially from the
expectations are disclosed in this release, including, without limitation, in
conjunction with those forward-looking statements contained in this release.
Contact: Xxxx X. Xxxxxxxx, Chairman, TrackPower, Inc.
000-000-0000 x000
