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Full Tilt issues statement about Investors

Full Tilt cease exclusive negotiations with potential investors!

Full Tilt Poker issued an exclusive statement on the website Poker News, giving the current status of negotiations with potential investors and apologizing for their silence to date:

"Dublin, Ireland (August 22, 2011) - On August 16, Irish based Pocket Kings Ltd., brand executor for the Full Tilt Poker moniker, concluded the exclusivity period of negotiations with their current potential investor.

While Pocket Kings Ltd. plans to continue discussions with its current investor, the company has now begun negotiations with additional potential investors to conclude the sale/partnership of the Full Tilt Poker brand and its assets.

Full Tilt Poker apologizes for its lack of communication with its customers over the last month and a half, but it has been grappling with unexpected and complex legal and financial issues arising from Black Friday and its aftermath. In addition, the company has had to be circumspect about disclosing the progress of negotiations with potential investors because there is often a requirement of strict confidentiality.

To the extent that it can do so without jeopardizing future opportunities, Full Tilt Poker will strive to have better communication with its customers going forward. Full Tilt Poker's number one priority remains the same: to secure an infusion of capital to repay all of its worldwide customers."

("Full Tilt Poker Statement")

Having said that we now know that negotiations are still open and there are many interested investors, has also emerged yesterday an article on the website eGaming who got an exclusive interview with attorney Jeff Ifrah, responsible for representing Full Tilt Poker, where he states that Initial investors will be more likely to reach an agreement with Full Tilt:

"I'm not directly involved in any of those discussions but I assume if everything goes to plan then the announcement will bring not just a new owner and new investor but also an entirely new management team, and I assume that will all be well-coordinated and closely coordinated with the regulator.

I assume there's going to be a transition period [after any investment] and we hope that it's not going to take that long to turn the lights back on and begin facilitating player withdrawals and obviously continue playing"

("Statement Full Tilt Poker´s Attorney Jeff Ifrah")

The statements given by the lawyer yesterday and today by Full Tilt are contrary, because yesterday the lawyer said the original investors will be more likely to reach an agreement, and today Full Tilt says that exclusive negotiations with the original investors ended! Either way Full Tilt has until 15 September 2011 to solve everything and meet again with the "Alderney Gaming Control Commission".



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