LOL, hi again me, wow now they got 7 million smackerooo's, but it's still .24, and I'm afraid to check what the hell the o/s is now.
Nevada Bob's, Sheridan close $7 million e-commerce deal
CALGARY, Aug. 4 /CNW/ - Nevada Bob's Golf Inc. (``Nevada Bob's Golf'')
(TSE:NBC) today announced the closure of a deal with Sheridan Reserve
Incorporated (``Sheridan'') that will inject $4,000,000 US cash into Nevada
Bob's Golf and establish the world's dominant golf portal and e-tail site.
Sheridan paid $4,000,000 US cash and 2 million common shares (worth an
additional $3 million US) for Nevada Bob's Golf's global e-commerce business,
excluding the UK and Europe. Sheridan will undergo a name change to
NevadaBobs.com Inc.
``With rapid changes occurring throughout the golf industry and here at
Nevada Bob's, this has been a very busy year. We have been and will continue
to focus on meeting supplier and customer expectations. The capital from
today's deal is another step forward,'' added Tony Loth, President and CEO of
Nevada Bob's Golf.
``This investment shows confidence in our company and in our brand name,
and it paves the way for other investment opportunities that are presently
underway for Nevada Bob's,'' stated Izzie Abrams, Chairman of the Board of
Nevada Bob's Golf.
Sheridan has completed much of the preliminary work necessary to test and
launch the NevadaBobs.com web site. Sheridan has partnered with I-Storm, Inc.,
a leading e-commerce developer and incubator, to provide expertise in the
merchandising, marketing and technology of the site.
``Our goal is to create the world's dominant golf portal by leveraging
the Nevada Bob's worldwide brand, customer base and buying power to create an
online experience that is unequalled in the industry,'' said Kevin Baker of
Sheridan, and a former member of the board of Nevada Bob's Golf. The e-tail
portion of NevadaBob's.com is unique in that it will maintain and promote
close ties to Nevada Bob's Golf franchise outlets, including revenue sharing,
delivery and returns.
``NevadaBobs.com will offer the same expert knowledge as our stores to
properly fit clubs and other equipment. In addition, the site will provide
news, information, web pages for individual franchisees, and other services
that will make NevadaBobs.com the destination of choice for golf
information,'' said Martin Bunting, Vice President and COO, Nevada Bob's Golf.
Nevada Bob's' system includes a worldwide network of 193 franchise
outlets and is in the process of converting most of its 86 corporate stores to
franchise operations. Corporate offices for the Company are located in
Calgary, Alberta, Canada. The Company's stock trades under the symbol NBC on
the Toronto Stock Exchange.
This news release may include comments that do not refer strictly to
historical results or actions and may be deemed to be forward-looking
statements. Forward-looking statements involve risks and uncertainties
including, but not limited to, the weather and performance of the economies in
the markets in which the company operates, continued acceptance of the
company's products, competitive factors, the company's ability to identify and
interpret retail trends, volatility of prices, market compensation and risk
inherent in the company's international operations.
The Toronto Stock Exchange has neither approved nor disapproved of this
release.
-0- 08/04/2000
For further information: Tony Loth, President & CEO, Nevada Bob's Golf Inc., (214) 360-9005; Izzie Abrams, Chairman of the Board, Nevada Bob's Golf Inc., (416) 243-7000 Ext. 631; Martin Bunting, Vice President & COO, Nevada Bob's Golf Inc., (403) 217-2342; Larry Clausen, Communication Incorporated Shandwick International, 1-877-332-6092 or (403) 266-2000 |
