Sara Hallitex Corp. Makes Announcement
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BEVERLY HILLS, CALIF. (Nov. 4) BUSINESS WIRE -Nov. 4, 1997--Garrett Krause, president and CEO of Sara Hallitex Corp. (NASDAQ BB:SHAL), announced that the company is now fully operational as a public venture capital firm.
The company's previously announced reorganization and planned implementation of its new business philosophy is complete and the company is in full operation.
Sara Hallitex (Sara) pursues business opportunities across a wide spectrum of industries and markets, including sports, entertainment, environmental, energy, mining and communications. The company's principal business philosophy is to acquire or invest in emerging junior market companies, finance, develop and incubate them so that eventually they may be spun out as dividends to its shareholders.
Sara has acquired, and currently operates three core subsidiaries: Trillium Communications Ltd., ProTerra Inc. and Janus Enermining Inc. The company acquired Trillium Communications as well as its related subsidiaries and Janus Enermining Inc. in November 1996. Sara incorporated ProTerra in June 1997 in order to move all its remaining environmental projects and business down to this subsidiary.
Trillium Communications, formally known as Brandon 21st Century Ltd., is a Beverly Hills-based sports and entertainment company, which has business interests principally through ownership of sports and entertainment property rights, specialized event management, promotional and marketing expertise.
Trillium Communications has several current operating divisions as well as a few projects and proprietary rights in the sports and entertainment industries. Trillium Management Group LLC, Trillium Marketing LLC and Pro Beach Roller Hockey LLC are the current operating divisions. Tril-Media Inc. is a new division being incorporated to hold and develop the entertainment projects and new entertainment and media-related acquisitions.
Trillium Management Group division represents actors, actresses, models, directors and writers. The division is producing revenue through its successful representation and placement of talent in various aspects of the entertainment industry such as theater, print, video, commercials and television programming.
Trillium Marketing is the marketing division, which pursues special event management and promotions opportunities. Initially, the division has multiple bids outstanding to provide its expertise to Asian companies wishing to do business in the United States and for U.S. companies wishing to enter Asian markets.
The division provides such services as sponsor fund-raising and sales, for commercial and cultural events, advertising and public relations consulting, and actual event management. The division also has the responsibility to develop the company's property rights for the 1998 Pro Beach Roller Hockey tour.
ProTerra is Sara's majority-owned subsidiary pursuing environmental acquisition and project investment opportunities. ProTerra is focused on environmental protection technologies with worldwide applications.
ProTerra has signed an agreement in principal to acquire an environmental company that has an extensive line of non-toxic environmental hazard clean-up products that have been thoroughly tested, meet or exceed all EPA and related federal standards, and have enjoyed revenue success both in the United States and overseas. Sara's management expects a final decision on the acquisition to be made in November 1997.
Janus Enermining, formerly GSP International Inc., was acquired as a vehicle for researching, and acquiring or investing in energy and mining projects worldwide. Janus currently is heavily involved in project opportunity evaluations in the United States, Canada and South America. Janus is a wholly owned subsidiary of Sara.
As a complement to its core group of subsidiaries, Sara Hallitex has been in discussion with an Internet and information technology firm. Company management is committed to entering the expanding and increasingly lucrative market of the Internet, and information technology in general and expects such expertise to accent its subsidiary capabilities, as well as develop new markets, services and revenue generating projects. A decision on the current acquisition offer is expected in late 1997.
Sara's management team is headed by Krause, president and CEO. Krause has significant experience and expertise in the investment banking industry, specializing in helping small emerging growth companies in public shell mergers, corporate mergers and joint ventures. Krause directs the company's overall business, acquisitions, public relations, executive search and all other public corporation requirements and activities.
Krause announced the appointment of E. Field Selby as chief operating officer and vice president of Sara Hallitex. Selby is a seasoned senior manager with experience to the chief executive level. He oversees Sara's merger and partnership development opportunities, client and subsidiary relationships. Selby specializes in strategic planning, infrastructure development and profit center management.
Sara Hallitex is a public venture capital firm, dedicated to the philosophy of acquiring or investing in companies and projects, which when fully developed, will "spin-out" as junior publicly traded companies, providing major long-term dividends for Sara and its shareholders.
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CONTACT: Sara Hallitex Corp., Beverly Hills
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