Tri-Star Holdings, Inc., Formerly Rapid Fitness, Inc., Announces Mineral Rights Division, Reomt LLC In Discussions to Expand Holdings Globally
Wednesday August 27, 11:25 am ET
FT. LAUDERDALE, FL--(MARKET WIRE)--Aug 27, 2008 -- TRI-STAR HOLDINGS, INC., formerly RAPID FITNESS, INC. (Other OTC:TSHL.PK - News), a publicly traded company currently on the Over the Counter, announced the company has expanded the focus of its wholly owned subsidiary, Reomt, LLC to include the development of mineral rights and claims beyond its existing domestic interests. The company, through Reomt LLC, already owns and is developing the Lucky Linda claim in Nevada to process gold, silver and platinum proven reserves there. Today, the company's board of directors, together with Reomt managers, announced that the company's mineral rights division has begun discussions with mineral rights owners in Peru and Africa, in addition to other potential acquisition targets in the U.S. While the company's mineral rights holdings are principally gold, silver and platinum, these discussions involve the potential for diversifying into other mineral commodities including, among others, diamond claims. The increased focus on developing this aspect of Tri-Star Holdings' business interests comes partly in response to shareholder input over the past few weeks.
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Executive Vice President Marckensie Theresias stated, "The board of directors has voted to expand the mineral focus of Reomt as part of Tri-Star's diversification largely because of opportunities now presented to us amidst overwhelming shareholder approval of the company's direction and interest in our developments in the Lucky Linda claim. Our expectation for the near future is to take the company's endeavors global, and we are actively negotiating several claims which, upon the execution of customary non-disclosure and/or letters of intent, we will announce to the public."
Safe Harbor Provision
This news release includes forward-looking statements, including with respect to the future level of business for the parties. These statements are necessarily subject to risk and uncertainty. Actual results could differ materially from those projected in these forward-looking statements as a result of certain risk factors that could cause results to differ materially from estimated results. Management cautions that all statements as to future results of operations are necessarily subject to risks, uncertainties and events that may be beyond the control of Rapid Fitness, Inc. and no assurance can be given that such results will be achieved. Potential risks and uncertainties include, but are not limited to, the ability to procure, properly price, retain and successfully complete projects, the availability of technical personnel, changes in technology and competition.
Contact:
Contact:
Anthony Mellone
President & CEO
Tri-Star Holdings, Inc.
954-772-2640
Email Contact
Source: Tri-Star Holdings, Inc.
