PRRM..Re-release of Good NEWS..reduction of A/S..
Prime Rate Investors Redistributes May 9, 2005 Announcements
Business Wire - May 10, 2005 12:46
STOWE, Vt., May 10, 2005 (BUSINESS WIRE) -- Prime Rate Investors, Inc. (OTC.PK: PRRM) announced the company's press releases carried by Business Wire yesterday May 9, 2005 failed to reach the contractually targeted distribution. As a result, management has issued the following recap:
On May 9, 2005, PRRM subsidiary BCTV entered a broadcast agreement with RSN, for the syndication of the outdoor adventure series Backcountry TV. RSN is the national television network that specializes in creating and distributing outdoor content for America's premier resorts, including more than 100 mountain and beach destinations across the country, reaching 55 million unduplicated annual viewers. Episodes of Backcountry TV will air on RSN beginning May 30, 2005.
Also on May 9, 2005, PRRM's board of directors announced it decided unanimously to reduce the company's authorized shares to 80 billion shares of PRRM common stock, subject to all SEC and regulatory statutes. The company's share structure will be updated and viewable at www.pinksheets.com.
"We thank the staff of Business Wire for their attention concerning this redistribution," said PRRM Vice President Ian Lamphere.
Prime Rate Investors (OTC.PK: PRRM) is a multi-media holding company with interests in outdoor sports, e-tail, retail, print, web, television and film. The company's strategic relationships with multi-faceted, outdoor sports entities allow it to offer diverse advertising solutions to businesses seeking multi-media exposure. Its wholly owned subsidiaries include Stowe TV-10, and Adirondack TV-33, RSN affiliated cable broadcast companies and High Angle Media, Inc., a video production company that also manages two other RSN affiliates Sugarbush TV-12 and Smuggs TV-9. PRRM owns the majority interest of Stockli Ski USA, the exclusive U.S. distributor of Stockli skis, bikes and sportswear.
For more information, visit www.prrm.info, www.stowetv10.com, www.neastmagazine.com, www.highanglemedia.com, www.stockli.com and www.rsn.com.
This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE: Prime Rate Investors
Prime Rate Investors
Dan Burgess, 802-253-0199
info@stowetv10.com
prrm.us
Copyright Business Wire 2005 |
