Carol, read this, too !!************************************************************************************ | ------ | Respond |
To: Bill Purcell (0 )
From: Sven H Khatri Tuesday, Mar 31 1998 10:50AM EST
Reply # of 186
I just got this announcement:
TIGERSHARK ENTERPRISES, INC.
============================
208 Otis Drive
Waco, Texas 76712
(254) 776-3999 (254) 776-3999 FAX
FOR IMMEDIATE RELEASE
~~~~~~~~~~~~~~~~~~~~~
Please contact: Sitra Enterprises, Inc.
Investor Relations
(512) 453-3817; Fax (512) 453-7553
E-Mail: tgsk@sitra.com
TIGERSHARK ENTERS INTO A STRATEGIC
ALLIANCE WITH THE GEM GROUP
Waco, Texas - March 31, 1998 -- Tigershark Enterprises, Inc. (OTC BB:
TGSK) announces that it has entered into a strategic alliance with
Global Emerging Markets Limited (GEM), an international investment
group with offices in London, New York, India and Russia specializing
in emerging markets, to decisively expand Tigershark's presence in the
Latin American marketplace. The alliance calls for GErequirements along
with facilitating key relationships necessary for
expediting Tigershark's continued growth the Latin American markets.
Under the terms of the alliance, GEM has committed to providing
Tigershark with $500,000 in initial expansion capital through a
three-year convertible debenture with a fixed interest rate of 6% per
annum. Over this period of time, GEM will assist in providing
additional expansion capital, both debt and equity, as needed and
estimated to be between $5 to 10 million. GEM will also use its
influence in the Latin American region to hasten Tigershark's
expansion efforts.
Colin Smith, Tigershark's President and Chief Executive Officer,
stated, "We are very excited and encouraged that a firm with the
credentials and experience of the GEM Group has chosen Tigershark as a
strategic partner for the Latin American region. With GEM's financial
resources and global presence, Tigershark can confidently pursue its
aggressive expansion program that is currently underway."
Tigershark Enterprises, Inc. is a distributor of MercuryT outboard
boat motors and lubricants to retail marine and auto parts suppliers
in Mexico with expanded distribution of its popular Mercury
QuickSilverT two-cycle engine oil into the Southwestern U.S. and
Central America. In conjunction with its MercuryT product line,
Tigershark markets and distributes an extensive offering of yachts,
boats, trailers, jet skis and all terrain vehicles (ATVs). Tigershark
is headquartered in Waco, Texas and has sales, servicing and
warehousing facilities in Monterey, Mexico.
The Private Securities Litigation Reform Act of 1995 provides a "safe
harbor" for forward-looking statements. Certain information included
in this press release (as well as information included in oral
statements or other written statements made or to be made by
Tigershark Enterprises, Inc.) contains statements that are
forward-looking, such as statements relating to the future anticipated
direction of the marine and recreation industry, plans for future
expansion, various business development activities, planned capital
expenditures, future funding sources, anticipated sales growth and
potential contracts. Such forward-looking information involves
important risks and uncertainties that could significantly affect
anticipated results in the future and, accordingly, such results may
differ from those expressed in any forward-looking statements made by
or on behalf of Tigershark Enterprises, Inc. These risks and
uncertainties include, but are not limited to, those relating to
development and expansion activities, dependence on existing
management, financing activities, domestic and global economic
conditions, changes in federal or state tax laws, and market
competition factors.
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