Featured Post

Thank You, Axl Rotten (And R.I.P.)

Tuesday, July 29, 2008

ProElite Names Three New Outside Directors

Courtesy of ProElite, Inc.:

LOS ANGELES--July 29, 2008--ProElite, Inc. (OTB:PELE.PK) today announced that it has named three new outside directors to its Board. With the appointments of Robert E. Brierley, Edward C. Hannah and Edward Corey, the Board now includes the three new outside members, two members seated pursuant to contractual appointment rights with key financial and strategic business partners, and company CEO Charles F. Champion, who has been elected the Board's Chairman.

Four prior directors - Kurt Brendlinger, Doug DeLuca, David Marshall and Gary Shaw - have resigned from the board. DeLuca and Shaw also have resigned as Chief Strategy Officer and President of EliteXC respectively, but will continue to provide consulting services to the Company under the terms described in the Form 8-K the company filed today with the Securities and Exchange Commission.

"ProElite is in the process of transitioning from its private company beginnings to broader public ownership and governance, and this is a step in that direction," Champion said. "The new directors offer all our shareholders an increased level of independent representation."

Robert Brierley is currently President and CEO of Aircuity, Inc. He has held executive level positions with Extraction Systems (CFO), Access Media (CFO) and Phoenix Controls Corp. (COO); and he was on the Board of Youbet.com, Inc. (NASDAQ:UBET). Brierley, who earned his MS in Management from the MIT Sloan School of Management, will chair the Board's audit committee.

Edward C. Hannah is a partner practicing in the corporate group of the international law firm of Davies, Ward, Phillips & Vineberg. He advises both targets and acquirers in public and private acquisitions and counsels public companies on corporate governance. Hannah headed corporate development and served as chief legal counsel to Magna Entertainment Corp. (NASDAQ:MECAD) or its public company parent from 2001-04. He was a senior executive with Headline Media Group, Inc. in Canada, where he was a manager of The Score Television Network and related sports and entertainment companies. Hannah has a degree in economics and political science from Yale University. He earned his law degree at Harvard.

Edward Corey is the principal shareholder of Corey & Corey, a law firm he founded in 1994. He specializes in business litigation with emphasis on contract, employment, and general civil litigation. His practice also includes representation of clients starting new businesses. Corey is a graduate of the University of Southern California. He received his law degree with honors from the University of the Pacific, McGeorge.

About ProElite, Inc.

ProElite, Inc. delivers the most exciting entertainment experience in the world of mixed martial arts (MMA) with live arena-based entertainment events, cable television programming on Showtime Networks and community-driven interactive broadband entertainment. A global leader in MMA, it has established a partnership with CBS that brings MMA to a major primetime network and an exclusive distribution agreement for its program library with IMG Media.

ProElite showcases the world's top MMA fighters through EliteXC (www.elitexc.com) and www.ProElite.com, its social media platform which continues to add thousands of subscribers each month in connection with its live streaming MMA events, social networking tools, and original and partner-driven content.

Beacon Advisors
Hud Englehart