Tuesday June 22, 7:00 am Eastern Time
Company Press Release
SOURCE: Deerbrook Publishing Group Inc.
Deerbrook Publishing Announces Letter of Intent to Acquire Arts Alive Inc. And Artsalive.com
Letter of Intent Outlines Expansion Plans for Framing Division
Artsalive.com will Join Artup.com in E-commerce Art Auction and Retail Site
PHOENIX, June 22 /PRNewswire/ -- Deerbrook Publishing Group (OTC Bulletin Board: DBPG - news) has announced that the company has signed a letter of intent to acquire privately held Arts Alive Inc. and Artsalive.com. Arts Alive specializes in custom framing for the art industry. Arts Alive is one of the premier sources of art framing for designers, art dealers and art consultants. The agreement also outlines immediate expansion plans for Arts Alive Inc. into other cities and art markets.
Arts Alive Inc. had over 1.6 million in annual revenues for 1998. Deerbrook Publishing Group will buy Arts Alive with cash and stock. The price of Deerbrook stock will be at a premium of $1.50 and restricted for a 1-year period.
Arts Alive expands Deerbrook Publishing Group into a new segment of the art industry. Deerbrook will now be able to use Arts Alive for framing Deerbrook's products that would generally be outsourced to other companies.
This is the second acquisition in the past month for Deerbrook Publishing Group. The company has also announced a letter of intent to acquire Rebecca Fine Arts and artist Russell Chatham will be represented by Deerbrook Publishing Group.
''We have been very aggressive to find companies in the art industry that not only have a solid base business but have enormous growth potential. Arts Alive Inc. is a key company for our roll up strategy in the art industry,'' said Keith Chesser, CEO.
Deerbrook Publishing Group Inc. also announced that Artup.com would be launched later this summer. Artup.com will function as a reseller for artists, galleries and individuals that display artwork on the site. Artsalive.com. will offer artists paintings and specially framed products on Artup.com, a premier Internet art auction and online retail site. Through the Internet's worldwide distribution capabilities, Artup.com has the potential to bring together more buyers and sellers of art objects than ever before.
Artup.com is in the process of signing up galleries, collectors and individual subscribers to build its inventory of artwork for the first auction and online retail store. The site itself is in development and will feature unique content including artist biographies, works of undiscovered artists, art commentary and more. Sophisticated search technology will enable buyers to locate artwork based on genre, media, even color and size.
Deerbrook Publishing, Inc. was incorporated in Colorado in March of 1997. The company's three subsidiaries are Signature Edition, Inc. an art publishing division, Cimarron Studio, Inc. a printing division and Artup.com the art auction and retail division formerly known as Enterarts/Interarts, Inc.
This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbors created by those sections. These forward-looking statements include statements related to potential mergers and the effect of those mergers on the prospects of the company.
Actual results may differ materially due to a number of risks, including the uncertainty of completion of the contemplated transactions. This press release provides general information and should not be construed as an offer to sell securities.
The material contained herein has been obtained from sources believed to be reliable, but is not complete and its accuracy cannot be guaranteed. This report is for informational purposes only and should not be construed as advice or meet the investment needs of any particular investor or designed to be the basis of any investment decisions.
For further information, contact Investor Relations, 602-437-8888, fax 602-437-2845, or email ir@artup.com.
Deerbrook Publishing and Artup.com are trademarks of Deerbrook Publishing, Inc. All rights reserved. Some of the product names mentioned herein are for identification purposes and may be trademarks or registered trademarks of their respective companies.
•artup.com•a division of Deerbrook Publishing Company•4644 South 36th Place•Phoenix, AZ 85040•info@artup.com
SOURCE: Deerbrook Publishing Group Inc. |
