Toymax Appoints Grand Toys International to Distribute Candy Planet Pokemon
Products in Canada
Business & Entertainment Editors
PLAINVIEW, N.Y.--(BUSINESS WIRE)--Nov. 12, 1999--Candy Planet
Co., a division of Toymax Inc, a wholly-owned subsidiary of Toymax
International, Inc. (NASDAQ: TMAX), today announced that it has
selected Grand Toys International (NASDAQ: GRIN), to exclusively
distribute in Canada the Pokemon gum and candy it manufactures through
a licensing agreement with Nintendo of America, Inc. represented by
Leisure Concepts Inc., the licensing division of 4Kids Entertainment,
Inc. (NASDAQ:KIDE). Based in Montreal, Canada, Grand Toys is a leading
distributor of toys and ancillary items.
"We are confident that the Candy Planet Pokemon products will be
as well received in Canada as they have been in the U.S.," said Steven
Lebensfeld, president of Toymax. "Grand Toys was a logical choice as a
Canadian distributor, based on the success we enjoyed through Grand's
Canadian distribution of a variety of Toymax products, including those
based on the popular Spice Girls singing group."
"We are thrilled to acquire the Canadian distribution rights for
the Candy Planet Pokemon products," said Steve Altro, Grand Toy
International's Chairman. "These products will complement the line of
Pokemon balls, kites and other accessories that Grand has acquired the
right to manufacture and distribute."
The Pokemon phenomenon originated in Japan in 1996 and made its
way over to the U.S. in 1998, with the Nintendo Pokemon Game Boy game
pak. Pokemon is now licensed to more than 100 companies through
Leisure Concepts Inc., the licensing division of 4Kids Entertainment
(NASDAQ: KIDE) and has generated more than $5 billion to date
worldwide. The Pokemon consumer products line includes games, toys,
trading cards, clothing and even snack food from such well-known
manufacturers as Hasbro (NYSE:HAS) and Scholastic Books (NASDAQ:
SCHL).
Candy Planet's Poke Gum is currently available in the U.S. in
mass market, toy and other specialty retailers nationwide and retails
for approximately $1.00. Additional Pokemon Candy Planet products will
ship in the U.S. by the end of 1999 with retail prices ranging from
$0.25 to under $10.
About Nintendo Co. Ltd.
Nintendo Co. Ltd. of Kyoto, Japan is a worldwide leader in the
creation of interactive entertainment. To date, Nintendo has sold more
than one billion video games worldwide, has created such industry
icons as Mario and Donkey Kong, and launched franchises like Pokemon
and the legend of Zelda. Nintendo manufactures and markets hardware
and software for its popular video game systems, including the
Nintendo 64 and Game Boy - the world's best-selling video game system.
As a wholly-owned subsidiary, Nintendo of America Inc., based in
Redmond, Wash., serves as headquarters for Nintendo's operations in
North America.
About 4Kids Entertainment, Inc.
Headquartered in New York City, 4Kids Entertainment, Inc.
(NASDAQ: KIDE) is a vertically-integrated entertainment company whose
wholly-owned subsidiaries include: Leisure Concepts, Inc., a leader in
domestic and international merchandise licensing and product
development; 4Kids Productions, a television, film and home video
production company, and Summit Media, a domestic and international
television distribution, media buying and planning company.
About Grand Toys International
Founded in 1960, Grand Toys International is a premier
distributor of a wide variety of toys and ancillary items in Canada
and since January 1, 1999, a manufacturer and distributor in the U.S.
About Toymax
Toymax (www.toymax.com) is a children's consumer products company
that creates, designs and markets innovative and technologically
advanced toys and leisure products. Toymax products promote fun and
creative play and are available under several brands: Toymax(R) toys,
such as R.A.D.(TM) Robot, Mighty Mo's(TM) vehicles, the award-winning
Laser Challenge(TM) and Creepy Crawlers(R) brands and a new line of
educational hand-held and tabletop electronics under the JumpStart(TM)
brand licensed from Knowledge Adventure Inc., and the Math Blaster(TM)
brand licensed from Davidson & Associates, Inc.; Go Fly A Kite(R)
kites, windsocks and banners; Candy Planet(TM) candy products; and
Monogram(R) gift, novelty and souvenir products. Toymax is
headquartered in Plainview, N.Y. and its products are available at
retailers worldwide.
The statements made in this press release contain certain
forward-looking statements including price information, which is
subject to change. The Company cautions readers that all
forward-looking statements are necessarily speculative and accordingly
undue reliance should not be placed on any such forward-looking
statements, which only speak as of the date made. Actual results may
vary materially from those anticipated by the Company for a variety of
reasons, including: without limitation, the Company's dependence on
the timely development, introduction and customer acceptance of new
products, differences between bookings received from customers and
actual orders received, changing consumer demand for its products and
the loss of existing licenses or the inability to renew or extend
licenses under favorable terms. The risks highlighted herein should
not be assumed to be the only things that could affect the future
performance of the Company. The Company undertakes no obligation to
publicly release the results of any revisions to these forward-looking
statements, which may be made to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated events.
Readers are referred to the documents filed by the Company with the
Securities and Exchange Commission, specifically, the most recent
reports filed under the Securities Exchange Act of 1934 and the
registration statement filed pursuant to the Securities Act of 1933,
which identify important risk factors.
--30--tia/ny*
CONTACT: Access Communications
Brendan McMahon or Liz Savery
212/462-2890 ext. 224/235
E-mail: bmcmahon@accesspr.com
lsavery@accesspr.com
or
Toymax, International Inc.
William Johnson, Jr.
516/391-9898
or
Integrated Corporate Relations
Christine DiSanto/Chad Jacobs
203/222-9013
KEYWORD: NEW YORK WASHINGTON INTERNATIONAL CANADA ASIA PACIFIC
INDUSTRY KEYWORD: ENTERTAINMENT ELECTRONIC GAMING/MULTIMEDIA
COMPUTERS/ELECTRONICS FOODS/BEVERAGES RETAIL MARKETING AGREEMENTS
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