Last Update: 12:40 PM ET Nov 16, 2007
BLUE ISLAND, Ill., Nov 16, 2007 (BUSINESS WIRE) -- RushNet, Inc. (Pinksheets:RSHN) today announced several developments with regard to Apple Rush Company, Inc. (Pinksheets:APRU), the former subsidiary of RushNet, which recently went public on the pinksheets.
Apple Rush will begin actively trading on the pinksheets in the very near future. According to Robert Corr, CEO of Apple Rush, "We're all very excited that we will soon begin trading. This is a major event for everyone at Apple Rush and for the shareholders of RushNet, as they are the largest shareholder of Apple Rush, holding 45% of the company's equity."
Additionally, the long-awaited Garden Beverage, Inc. acquisition has been finalized. Originally the transaction had been secured by RushNet, but due to a fall in its share price and other factors beyond the company's control, RushNet was not able to complete the final transaction. As a result, Apple Rush, having a strong business model, excellent growth prospects and the support of RushNet, was able to secure debt financing and has consummated the acquisition of Garden Beverage. Garden will operate as a wholly-owned subsidiary of Apple Rush.
"This is an excellent acquisition for Apple Rush, allowing the company to strengthen the sales and distribution growth of the Apple Rush product line through its ownership of Garden Beverage, with the cooperation and marketing support of RushNet. Furthermore, RushNet will still benefit tremendously from this arrangement as they are the single largest shareholder of Apple Rush. I strongly believe this is a win-win situation for everyone," commented Robert Corr, CEO of Apple Rush.
Robert Corr continued, "Before the end of the month, Apple Rush plans to engage securities counsel to pursue the registration process to distribute direct dividend shares of Apple Rush to the shareholders of RushNet, as I have previously promised. Announcements will be forthcoming as progress is made with Apple Rush and the share dividend plan."
RushNet Inc. www.enjoytherush.com is a beverage marketing company with a dynamic array of natural and organic beverages that it sells to distributors throughout the U.S. and into export markets. The line of quality beverages includes; e-water (R) (RushNet is the brand owner), Ginseng Rush (R), Ginseng Rush XXX and Rush Cola (R).
RushNet, Inc.
Robert Corr
708-389-6625 |
