TNRG looks like its moving a little on the news....Perhaps some of the buying is coming from the cross reference with the listed NASDAQ stock NASDAQ:USAI.
Company Press Release
Cavalcade of Boxing Signs Three Television Contracts
NEW YORK--(BUSINESS WIRE)--June 2, 1998--Tianrong Building Material Holdings, Ltd. (OTC BB:TNRG - news) announced today that Cavalcade of Boxing, 50% owned by TNRG, has signed three broadcasting contracts for its boxing program. The three contracts are with:
-- WAMI-TV Miami of USA Networks (NASDAQ:USAI - news)
-- WTVE of Philadelphia, and
-- Cable Television Network of New Jersey
With respect to all three contracts, Cavalcade of Boxing will provide boxing programming for a 13 week period containing advertising sold by Cavalcade.
Steven Bass, President of Cavalcade, stated, ''We are extremely pleased with the signings of these contracts and the quality of broadcasters interested in our product. It is a strong first step in introducing Cavalcade of Boxing, with color-host Burt Sugar, to broadcast television. We hope to have many more such contracts in the future.''
Tianrong is a business development company that has set as its goal the acquisition of businesses in numerous industries and plans to apply Tianrong's management expertise to quickly grow value in the acquired businesses. Tianrong has announced future stock dividends in three subsidiaries and on a long-term basis may elect to issue stock dividends in other subsidiaries.
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Contact:
Tianrong
James Tilton, 212/398-7833 |
