FOR IMMEDIATE RELEASE
Contact:
Falcon Financial Partners, LLC
Investors@IMAGEworldwide.com
1-866-210-4671
IMAGE Worldwide, Inc. is Acquired by Stronghold Industries, Inc.
Redondo Beach, CA – (MARKET WIRE)—November 1, 2007 – Stronghold Industries, Inc. (OTC: SGDS / Frankfurt: QGR) announced today that it had acquired IMAGE Worldwide Inc., (“IMAGE”) concurrently with a private transaction which will create a change in control of the Company.
In addition, the Company announced that it would change its name to IMAGE Worldwide, Inc. and affect a 10:1 reverse split of its outstanding common shares. The name change and reverse split will become effective in approximately two weeks. All actions were approved by the Board of Directors and the majority shareholders of the Company.
The actions taken today are the result of a change in the control of SGDS from its prior controlling shareholders to the members of the board of directors of IMAGE. IMAGE is a rapidly growing entertainment company with interests in print media and the Internet.
In connection with the acquisition, Paul Sorkin has been appointed as Chairman/CEO and Tino Corona as a Director and COO. Tony Breeden and Donald J. Moore have resigned from Stronghold's board of directors.
All of the actions described in this press release were taken by SGDS's pri
