Jan 20 (Reuters) - Askott Entertainment:
* ASKOTT ENTERTAINMENT AND MOLYSTAR RESOURCES ANNOUNCE GOING PUBLIC TRANSACTION AND PRIVATE PLACEMENT FINANCING
* ASKOTT ENTERTAINMENT - MOLYSTAR WILL ACQUIRE ALL OF ISSUED & OUTSTANDING COMMON SHARES OF ASKOTT, IN EXCHANGE FOR COMMON SHARES OF MOLYSTAR
* ASKOTT ENTERTAINMENT - UPON DEAL CLOSE, SCOTT BURTON TO BE APPOINTED AS PRESIDENT & CEO OF COMBINED CO
* ASKOTT ENTERTAINMENT - IAN WINTER, MATHEW LEE & JEREMY HUTCHINGS TO BE APPOINTED AS COMBINED CO'S COO, CFO & CHIEF TECHNOLOGY OFFICER, RESPECTIVELY
* ASKOTT ENTERTAINMENT - TO CONDUCT PRIVATE PLACEMENT OFFERING OF SUBSCRIPTION RECEIPTS AT $0.85/SUBSCRIPTION RECEIPT, FOR PROCEEDS OF MINIMUM $4 MILLION