By Rocco Havel | June 12, 2008

HeadsUp Entertainment announced Wednesday that it has purchased the Canadian Poker Tour (CPT) and Canadian Poker Player magazine from Fifth Street Publishers Ltd.The CPT and the magazine became dormant in February due to lack of funds.Fortunately, both will now be able to spring back to life under new ownership.

HeadsUp Entertainment already operates Canadian Championship Poker, whose highlight event was the 2008 Canadian Open Poker Championship, won by Huck Seed in March.

The new CPT will begin with Calgary Classic at Cash Casino June 25-28.Four more tour stops are already on the schedule, including the CPT Finals, slated for January 20-21, 2009 at yet-to-be-determined casino.HeadsUp plans to announce more events soon and estimates there will be a total of 8-10 tour stops when all is said and done.

The company is also in the process of finalizing details for the broadcast of 13 one-hour television shows from 5 casinos around Canada.The final three shows will feature the CPT Finals."We are pleased to have been able through the quality of our previous broadcasts and successful events, to now attract major sponsors to the CPT which allows for a more player friendly infrastructure, and a profitable business model for our shareholders," said HeadsUp Entertainment’s president and CEO Kelly B. Kellner,

Canadian Poker Player magazine’s re-launch issue is currently in the works.The December 2007 issue was the last one produced.

"We have worked very hard over the past three years to build a business model in the poker industry that can provide a multi-media solution to sponsors and advertisers looking to target a specific and valuable demographic," Kellner explained. "With a national television presence, the re-launch of the only national Canadian poker magazine and the roll out of a new interactive web presence, we are building a phenomenal foundation and are confident that our plan to create shareholder value through a series of revenue generating models is on the right path."

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