Vancouver, BC, Jun 04, 2001 (Market News Publishing via COMTEX) -- Synergy
Media, Inc. and Los Angeles-based ZVO, Inc. (Zero-Emission Vehicle Operations
and Engineering) have agreed to a merger, for the purpose of capitalizing the
production of proprietary ZVO electric-powered vehicles and alternative energy
products. The merger will be done with Electric Synergy, Inc., a subsidiary of
Synergy Media, Inc., and finalized at the point when ZVO shareholders receive
35% of Synergy Media, Inc.'s stock after financing and dilution. Following the
transaction, ZVO will be a wholly owned subsidiary of Synergy Media, Inc. In
conjunction with the agreement, Marcus Hays, President of ZVO, will assume the
role of President of Synergy Media, Inc.
Mr. Hays is a pioneer in the field of high performance, alternative energy
vehicles including electric bicycles. His career includes the creation of
"Tango," a two-passenger, hybrid powered, four-wheel motorcycle; "Defender," a
natural gas powered, light-armored, passenger vehicle; "XBike," a new type of
electric bicycle; "World Bike," an electric bicycle aimed specifically at the
third world market; and the development of "ZEVOS," or Zero Emission Vehicle
Operating System, a proprietary drive technology designed for large scale
electric powered vehicles. Mr. Hays' other career highlights include management
roles with two "formula car," racing teams and design staff positions with
industrial design studios in the USA and abroad. Marcus is also a graduate of a
U.K. apprenticeship program, attended Art Center College of Design, Pasadena and
University of California Northridge.
According to Mr. Hays, "I am impressed with the entrepreneurial spirit of
Synergy and its affiliates. Synergy has learned a great deal in the past year
while marketing "Ebikes," experience that dovetails nicely with ZVO's research,
development and manufacturing expertise. Being in the vanguard of an industry
necessitates a rolled-shirtsleeve approach, which is directly attributable to
both ZVO's and Synergy's comparative accomplishments in an industry littered
with failures. I will continue my hands-on approach in every aspect of our
business dealings and I will not be satisfied with mediocre results on any tier.
When it comes to matters of marketing my confidence in "XBike" as a finished
product is such that anyone who rides XBike - assuming they have space on their
credit card - will buy. XBike is the best electric bicycle available and we will
establish this in the near term via a grassroots, direct marketing program. The
fact Synergy is based in Omaha, Nebraska, is a geographically ideal location for
our distribution hub - a rationale that applies equally to our decision to
locate both the corporate headquarters and customer care centers here. Omaha,
for avid cyclists like me, is truly 'a cycling haven,' as the Omaha/Council
Bluffs area has one of the best bike path systems in the United States and a
very active cycling community. Omaha's bike path system also provides a unique
opportunity to participate in an urban transit model of global import, with
XBike as the centerpiece of this truly visionary environment. I look forward to
working and living in a community such as this and thus, am committed to helping
make Omaha, 'The Electric Bike Capital of the World."
Mr. Hays also says, "XBike offers an extraordinary array of features heretofore
unavailable with any competing product including the fact XBike weighs only 30
pounds including motor and battery (versus the electric bike average of 60
pounds). XBike is available in a number of power train and frame configurations
including, "Frankenstein" a model intended exclusively for high performance,
off-road use. Regardless of model, the level of care and craftsmanship that goes
into every XBike is unparalleled, an intrinsic advantage when, as in our case,
production is limited to a few thousand frame sets per year."
Synergy will initially focus on marketing, distribution and sale of "XBikes,"
via channels created originally for Ebike as well as directing advertising,
web-based strategy and promotional activities. Initial XBike deliveries will
begin August 2001, and a press/media campaign tied to the impending product
launch has been initiated through the Los Angeles based public relations firm,
Media Riot. Angeleno Magazine's June/July 2001 issue will feature a six
hundred-word, photo/essay covering XBike, Marcus Hays and ZVO.
In addition to XBike, Synergy will manage the ongoing development of other
proprietary ZVO technologies, including a "bolt-on" electric power kit, an
outgrowth of the XBike program, intended for traditional bikes and slated for
introduction in late summer of 2001. A second electric bike called, "ZMachine,"
significantly lower in price than XBike is expected to appeal to a mass-market
audience with introduction planned for spring 2002.
Synergy's access to public capital may help accelerate development of key ZVO
technologies and, assuming adequate funding is secured, could over time solidify
Synergy's market position as a leader in the field of alternative vehicles and
energy products. Technology developed by ZVO (other than vehicles) includes
proprietary automatic transmissions designed specifically for EVs, EV
controllers, EV battery-management systems, and stationary power generation
equipment.
According to Mike Luther, Chairman and CEO of Synergy "ZVO executives and
engineers are recognized as accomplished veterans in the alternative energy
field and among industry insiders, are very highly regarded. The union of
Synergy's marketing, sales experience, distribution experience, existing web
infrastructure, and geographically ideal Omaha, Nebraska, location, in
conjunction with the ZVO organization has the potential to accomplish a great
deal". Certain information above contains forward-looking statements that may
involve risk and uncertainties. Synergy Media believes its expectations are
based on reasonable assumptions. However, no assurances can be made that its
goals will be achieved. Factors that could cause actual results to differ
materially include, but are not limited to, changes in federal, state and local
regulations.
CONTACT: TEL: 402/334-5556 Synergy Media, Inc., Omaha, Marcus Hays
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