Growth Technologies Inc (fka GRWT)

[Thirsty Tiger]

older PR August 3, 2005 on the birth of OSSG

By: Fairwayiron
29 Nov 2006, 09:46 AM EST
Msg. 2748 of 2776
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White Knight SST, Inc. Concludes the Acquisition of The Online Outpost Licensing Corporation and Announces other Restructuring Changes.
From: Business Wire | Date: August 3, 2005 | More results for: WKGT pangea

TAMPA, Fla. -- White Knight SST, Inc. (OTCPK:WKGT) ("White Knight SST" or "the Company") announced today that it had concluded the acquisition of The Online Outpost Licensing Corporation as contemplated in its announcement dated June 2, 2005. Further, the Company announced that it will change its name to Online Sales Strategies, Inc. to better reflect its mission.

Online Sales Strategies mission is to become a leading provider of all necessary resources to successfully manage and operate Online sales and software related businesses. Its initial focus will be its wholly-owned subsidiary, The Online Outpost Licensing Corporation ("The Online Outpost"). The Online Outpost is an emerging franchisor of retail eBay (NASDAQ:EBAY) drop-off stores. The Online Outpost currently operates 6 stores, with 11 other stores under contract nationwide, and has aggressive plans for expansion by the end of 2005.

"This is a great opportunity for our company," commented Matthew Brown, President of The Online Outpost. "eBay and other online markets are changing the way people and companies buy and sell merchandise. With no debt in our company and the capital resources in place for growth, we are excited about the opportunity in this new world economy," Mr. Brown concluded.

The Company also announced that it will distribute the shares of White Knight Strategies ("WKS") Inc., a wholly-owned subsidiary of the Company, in the form of a dividend to shareholders of record as of September 30, 2005. Upon completion of the dividend distribution, WKS will merge with Cast-Crete Corporation ("Cast-Crete"), a private Florida based company, and change its name to Cast-Crete. Cast-Crete, with sales of approximately $100,000,000 in 2004, and expected sales in excess of $120,000,000 in 2005, is the largest supplier of precast and prestressed concrete products to the housing industry in Florida. Shareholders as of the record date will receive one share of Cast-Crete for every 66.67 shares of the Company's stock.

The Company also announced that it will distribute the shares of Pangea Emerging Corporation ("PEC"), a wholly-owned subsidiary of the Company, in the form of a dividend to shareholders of record as of October 15, 2005. Upon completion of the dividend distribution, PEC will merge with Sic Semper Tyrannis, Inc., effectively restoring our shareholders' interest in EarthFirst Technologies, Inc., Nanobac Life Sciences and Hybrid Fuel Systems. Shareholders as of the record date will receive one share of PEC for every 50 shares of the Company's stock.

The proposed reverse split of the Company's stock will not become effective until after these transactions have closed.

About Online Outpost

The Online Outpost makes auctioning online easy for individuals and businesses. Online Outpost franchise locations offer an easy and convenient way to sell items online. The concept is a store where customers can take advantage of a service and turn unwanted items into cash. Online Outpost stores handle the entire selling process whether it is one or many items, a small piece of jewelry, electronics, vehicles or even real estate. The software package offered to franchisees allows stores to manage all aspects of the business from customer management, listing, auction templates, image hosting, shipping and reporting all from one interface and has been certified as an eBay compatible application. For more information, please visit our website at: http://www.theonlineoutpost.com.

Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of Online Sales Strategies, Inc. officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-Looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future Online Sales Strategies, Inc. actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-Looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and Online Sales Strategies, Inc. has no specific intention to update these statements.