NEWS!
Subj: The Sled Dogs Company Announces a Settlement Agreement...
Date: 3/3/99 1:49:25 PM EST
The Sled Dogs Company Announces a Settlement Agreement With Norwest Credit, Inc
MINNEAPOLIS--(BUSINESS WIRE)--March 3, 1999--The Sled Dogs Company ("The Company") (OTCBB: SNOW) announced that it has reached a global settlement with Norwest Credit, Inc., ("NCI"). The terms and conditions of the Settlement Agreement provided for The Company to surrender all snow skates, related apparel and intellectual property. In addition, The Company paid NCI $280,000 in cash, and other miscellaneous consideration for a full and final release.
"We are very excited to be able to focus on our business plan," said The Company's Chairman and Chief Executive Officer, Kent Rodriguez.
The Company is a development stage consolidator in the highly fragmented extreme and action sports industry with an emphasis on E-Commerce applications.
Forward-looking statements contained in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Certain important factors could cause results to differ materially from those anticipated by some statements made in this release. You are cautioned that all forward-looking statements involve risks and uncertainties. Among the factors that could cause results to differ materially are the following: lack of availability of financing; inability to control costs or expenses; manufacturing and distribution problems; and lack of market acceptance of the Company's products. Reference is also made to the risk factors contained in the Company's Registration Statement on Form S-3 (No. 33-80875), which are incorporated herein by reference.
CONTACT:
The Sled Dogs Company
Kent Rodriguez, 612/359-9020 |
