GRWW - Greens Worldwide Closes Its Acquisition of Texas Sports Group, Inc. d/b/a Tight Lies Tour
Wednesday September 6, 5:00 am ET
HERTFORD, N.C., Sept. 6 /PRNewswire-FirstCall/ -- Greens Worldwide Incorporated (OTC Bulletin Board: GRWW - News) announced today that it has completed its acquisition of 100% of the common shares of Texas Sports Group, Inc., which owns and operates the Tight Lies Golf Tour (www.tightliestour.com ), whereby Tight Lies Tour has now become a wholly owned subsidiary of Greens Worldwide by merging into a newly formed subsidiary of GRWW. Tight Lies Tour, based in Carrolton, Texas, has operated since 1994, and has been a proving ground for many current PGA Tour players. Gary DeSerrano, Founder and President since inception, will continue as President of Tight Lies Tour and Kathy DeSerrano will continue as Vice President and Secretary. The closing of the transaction occurred on September 5, 2006 upon the filing of the Certificate of Merger with the State of Delaware.
Tight Lies Tour will continue its operations in an expanded east and west division, and will be two of the now expanded ten official regional tours of the US Pro Golf Tour. www.usprogolftour.com
About the Tight Lies Tour
Since 1994, the Tight Lies Tour, a subsidiary of the Texas Sports Group Inc., has successfully graduated players to the PGA Tour including; Harrison Frazar, Tag Ridings, John Senden, Deane Pappas, John Reigger, Mark Hensby, Rich Barcelo, 2001 Farm Bureau Classic winner Cameron Beckman, 1999 John Deer Classic winner J.L. Lewis, three-time PGA winner, Tim Herron and 2004 Funai Classic at Walt Disney Resort winner, Ryan Palmer (pictured). 2005 PGA Tour graduates include; Ron Whittaker, BJ Staten and Michael Connell. Additionally, over sixty Tight Lies members have also earned their privileges to the PGA's Nationwide Tour. The Tight Lies Tour currently conducts professional golf tournaments in Texas, New Mexico, Oklahoma, Mississippi and Louisiana. Local charities play a vital role with all Tight Lies Tour tournaments. They not only help provide the numerous volunteers used daily, but also raise the funds needed to run a first-class professional and pro-am tournament. All local sponsor dollars are directed through the local charities involved with the tournaments. Annually, the Tight Lies Tour helps raise over $500,000 for local charities.
Tight Lies Tour Sponsors Include; Adams Golf, Choice Hotels International, SKYGOLF GPS, Nike Golf, Evolve Golf, GolfWorld, NYX Golf and BlueGolf. Website: www.tightliestour.com
About Greens Worldwide Incorporated
Greens Worldwide Incorporated is a vertically integrated sports marketing and management company, engaged in owning and operating sports entities and their support companies and is publicly traded under the stock symbol GRWW. Our current operating subsidiaries are the US Pro Golf Tour, Inc. www.usprogolftour.com , Breakthru Media, Inc. www.breakthrumedia.com , Crowley and Company Advertising, Inc. www.crowleyadvertising.com, New England Pro Tour, Inc. www.neprogolftour.com, Still Moving, Inc. www.still-moving.com , Las Vegas Golf Schools, Inc. www.gotogolfschool.com and the American Challenge Golf Tour, Inc. www.acgtour.com . In our continuing effort to develop a more cohesive and synergistic organization, we are structured in a way that allows all of our wholly owned subsidiaries to utilize each other's resources to the greatest extent possible. In addition, the Company's strategic plan is to be able to deliver substantial value by providing multiple sports platforms and media to leverage our partners advertising and promotional dollars, while delivering the finest entertainment opportunities to retain and build customers. For our non-sports businesses, we will utilize the media and promotional benefits of our media platforms in Television, Radio, and Print, together with Internet Television and other like strategic relationships, to grow our consolidated revenues. The Company intends to continue its strategy of acquiring profitable sports organizations and sports related firms, together with other businesses that would benefit from the synergy the Company provides. www.grwwsports.com
Important Information About Forward-Looking Statements
The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbors created thereby. Forward-looking statements deal with the Company's current plans, intentions, beliefs and expectations. Investors are cautioned that all forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed from time to time in reports filed by the Company with the Securities and Exchange Commission.
Contact
Tom Kidd
Chief Executive Officer
252.264.2064
--------------------------------------------------------------------------------
Source: Greens Worldwide Incorporated
