ProElite, King of the Cage Close Strict Foreclosure AgreementForeclosure Agreement • July 16th, 2009 • Proelite, Inc. • Services-amusement & recreation services
LOS ANGELES, Jul 10, 2009 (BUSINESS WIRE) -- ProElite, Inc. (OTB:PELE.PK) said today that it has closed a strict foreclosure agreement that returns King of the Cage, the highly successful mixed martial arts brand, to its original owners Terry and Julie Trebilcock. With the agreement, ProElite's outstanding debt to King of the Cage has been satisfied; and King of the Cage, under the leadership of founder Terry Trebilcock, again becomes an independent company with control over its own extensive video library.
