News Out!
TORONTO, Apr 29, 2008 (MARKET WIRE via COMTEX) -- Element 21 Golf Company
(OTCBB: ETGF) (FRANKFURT: BJQ), the manufacturer of advanced Scandium Alloy golf
and fishing equipment, announced that it has signed a $4.24 million minimum
order Scandium shafts distribution deal with Kanata Shaft Co.
The three year exclusive Scandium shafts distribution deal for North America has
been in the works since January 2008. Kanata Shafts has conducted extensive due
diligence by a foremost industry expert with a 40 year career in design and
manufacturing of golf shafts. The due diligence was aimed to primarily satisfy
possible OEM requirements in terms of quality, consistence and volume
capabilities. The satisfactory completion of due diligence formalized the
contract between Element 21 Golf and Kanata Shaft Co.
About Kanata Shaft Company:
Kanata Shaft Co. LLC is an Ohio Limited Liability Corporation established to
distribute and market Scandium shaft technology and other golf components and
products primarily in the U.S. to fitters of golf equipment as well as OEMs and
other manufacturers of golf products. The manager of Kanata S.C. is Alan Fadel,
who has assembled a team of experts including Robert Bush, Marvin Giles, and
Eoghan O'Connell.
About Element 21 Golf Company:
Element 21 Golf Company develops and markets award winning golf and fishing
products made from the Company's next-generation, proprietary Scandium Alloys.
Element 21's high performance products deliver dramatic improvements in
distance, consistency, accuracy and feel over the most popular products in the
US$5.5 billion golf and the US$48 billion international fishing markets.
Originally developed for advanced aeronautics in jet fighters including the MiG,
Element 21's patented Scandium Alloys provides the highest strength-to weight
ratio of any material currently used in sports -- 25% improvement over Titanium,
40% improvement over Graphite/Epoxy, 52% improvement over Aluminum, 70%
improvement over Steel. They also provide unique vibration dampening properties
resulting in products with unprecedented feel over competing materials.
Element 21 Golf Company has recently expanded its product line to include
fishing equipment that has quickly secured international recognition by winning
several top honors at the 2007 ICAST, the world's largest sports fishing trade
show.
Forward-Looking Statements.
Statements in this release, other than statements of historical fact, may be
regarded, in certain instances, as "forward-looking statements" pursuant to
Section 27A of the Securities Act of 1933 and Section 21B of the Securities
Exchange Act of 1934, respectively. "Forward-looking statements" are based on
expectations, estimates and projections at the time the statements are made, and
involve risks and uncertainties which could cause actual results or events to
differ materially from those currently anticipated, including but not limited to
delays, difficulties, changed strategies, or unanticipated factors or
circumstances affecting e21 and its business. A number of these risks and
uncertainties are described in Element 21's periodic reports filed with
Securities and Exchange Commission. There can be no assurance that such
forward-looking statements will ever prove to be accurate and readers should not
place undue reliance on any such forward-looking statements contained herein,
which speak only as of the date hereof. Element 21 undertakes no obligation to
republish revised forward-looking statements to reflect events or circumstances
after the date hereof or to reflect the occurrence of unanticipated events.
AI
