LRDI news:
Wednesday May 24, 2:03 pm Eastern Time
Company Press Release
Laredo Investment Corp. Announces Updates
LAS VEGAS--(BUSINESS WIRE)--May 24, 2000--Laredo Investment Corp. (``Laredo'' or the ``Company'') (OTCBB:LRDI - news) is pleased to provide the following update on its affairs since
acquiring GFR Nutritionals on April 4, 2000.
Over the past quarter, the company has been meeting its aggressive expansion plans in production, sales and marketing. Laredo is positioning itself to become a leader in the multibillion-dollar online business of nutritional, herbal and sports nutrition products.
Operations
The company's plant and production facility has been expanding rapidly to meet its demand in nutritional supplements. Significant orders have been placed for its Powder Blending and Encapsulation products to Europe and within North America. In addition, the company's Private
Label division is in negotiations with several national wholesalers and retailers to provide private branded products.
NutritionalsDirect.com
The company is currently beta testing its e-commerce website, www.nutritionalsdirect.com which it expects to launch shortly. Through the company's online site, nutritionsdirect.com, it researches, develops, manufacturers and markets its own products directly to the end user while providing full support and offers a 100% guarantee of its products. NutritionalsDirect.com is an e-commerce
nutritional products company that is dedicated to ``making better health easier'' and expects to become a dominant player in this rapid growing field.
Corporate Development
Laredo is in final negotiations to acquire a California web based virtual gym that provides a full range of products and services for the sports industry. This strategic acquisition will enable the company to quickly penetrate the sports supplement business through the current subscribers of this virtual gym as well as grow it through its celebrity product endorsement. The company expects to sign a Letter of Intent before the end of May 2000.
The news release contains forward-looking statements as defined by the Private Securities Litigation
Reform Act of 1996. Forward-looking statements concerning plans, objectives, goals, strategies,
future events of performance and underlying assumptions and other statements which are other than
statements of historical facts. These statements are subject to uncertainties and risks including, but not
limited to product and services demand and acceptance, changes in technology and in economic,
political and regulatory conditions and to all of the risks generally associated with a company at
Laredo's state of development. All such forward-looking statements whether written or oral, and
whether made by or on behalf of the company are expressly qualified by these cautionary statements.
In addition, the company disclaims any obligation to update any forward-looking statements to reflect
events or circumstances after the date hereof.
Laredo Investment Corp. shares trade on the OTC Bulletin Board under the symbol ``LRDI''.
Contact:
Laredo Investment Corp.
Investor Relations, 877/931-2233 |
