03/29 10:54 American Boardsports Company, Inc. Announces Stock Acquisition
American Boardsports Company, Inc. Announces Stock Acquisition Agreement With OTC Bulletin Board Company
SAN DIEGO--(BUSINESS WIRE)--March 29, 2001--American Boardsports Company, Inc. (ABCI) announced today that it has entered into a letter of intent to acquire a majority interest in Tekron, Inc. (OTC BB: TKRN) and thereafter merge the two companies as one entity.
ABCI designs, markets and manufactures branded consumer products for outdoor extreme sports. The products consist of skateboards, snowboards, wakeboards, related accessories and apparel featuring highly recognizable name brands. ABCI has developed proprietary technology for snowboards and wakeboards. ABCI's goal is to become a leader in the action sports retail industry. By manufacturing and delivering high performance quality products, on time, at competitive prices, ABCI believes it can produce long-term customer loyalty and satisfaction. The company has marketed and developed all the brands over eight years and now plans an aggressive sales and acquisition plan to capture its market share. The action sports lifestyle appeals to the majority of the Generations X and Y, which are a demographic group of consumers between the ages 8 to 35. American Boardsports' Internet address is www.americanboards.com.
This press release may include forward-looking statements concerning the business and future prospects and other similar statements that do not concern matters of historical fact of American Boardsports Company, Inc. ("ABCI"). Federal securities laws provide a limited "safe harbor" for certain forward-looking statements. Forward-looking statements in this press release relating to product development, business prospects and development of a commercial market for technological advances are based on ABCI's current expectations. ABCI's current expectations are subject to all of the uncertainties and risks customarily associated with new business ventures including, but not limited to, market conditions, successful product development and acceptance, competition and overall economic conditions, as well as the risk of adverse regulatory actions. The actual results may differ materially from current expectations. Readers are cautioned not to put undue reliance on forward-looking statements. ABC disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or for any other reason.
CONTACT: Americanboard Sports Company, Inc.
Thomas Carter, 858/362-3535
Integrated Corporate Relations, Inc.
John P. Flanagan, 203/222-9013 Today's News On The Net - Business Wire's full file on the Internet
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