LWEI - Lone Wolf Announces Acquisition of Internet-Based Distribution Company
OKLAHOMA CITY, Mar 6, 2000 (BUSINESS WIRE) -- Lone Wolf Energy Inc.
(Symbol: LWEI) announced today it has closed on the acquisition of E.P.
Distributing, Inc.
Specifically, in a stock and cash deal for 100% of the assets of the
company, Lone Wolf compensated E.P. Distributing's shareholders with 1,
000,000 shares in Lone Wolf common stock and $100,000 payable over the
next seven months. As a result of the acquisition, E.P. Distributing
has become a wholly owned business unit of Lone Wolf.
"The acquisition of E.P. Distributing by Lone Wolf will give us
invaluable resources for our aggressive sales and marketing efforts,
which includes further development and promotion of our Web site," said
Timothy P. Apgood, E.P. Distributing's founder and president. Mr.
Apgood has joined Lone Wolf's board of directors. With more than 35
years experience in the medical and nutritional distribution category,
Mr. Apgood founded E.P. Distributing in 1995.
E.P. Distributing, headquartered in Salt Lake City, Utah, owns the
formulas for Earth's Pharmacy Physician's Formula nutritional products.
Earth's Pharmacy Physician's Formula has more than 17 private label
products, which are being sold through physicians, chiropractors,
pharmacies, catalogues, infomercials, advertising in magazines and on
the radio, and most recently on a 58-page Web site
(www.epphysiciansformula.com). E.P. Distributing's strategic objective
is for it to become the leading Web site for health and nutritional
products.
Earth's Pharmacy Physician's Formula was established to meet the
growing needs of a worldwide revolution in healthcare. As clinical
studies reveal the exceptional benefits of proper nutritional support
for the body, astute healthcare professionals are beginning to
implement regimens of natural therapies as a way to achieve and
maintain optimal health. Natural products are now becoming widely
recognized as the future of preventive medicine. The use of herbs,
vitamins, minerals, amino acids, digestive enzymes, probiotic cultures,
and phytonutrients from whole food concentrates is central to Earth's
Pharmacy Physician's Formula's product philosophy.
The Company has plans to expand its highly successful sponsorship of
the popular New York City health talk radio program, "Alternatives,"
with host Dr. Howard Benedikt into several other test markets in
advance of a national rollout of this authoritative positioning-based
advertising methodology. No other nutritional company has such a
marketing strategy.
"We are committed to seeing E.P. Distributing achieve its great
potential. Tim Apgood has done a superb job in creating and building
the company. It's now on the threshold of extraordinary growth," said
Marc W. Newman, Lone Wolf Energy's president. "Lone Wolf demands that
companies in which it invests be dedicated to the utmost of quality.
E.P. Distributing's Earth's Pharmacy Physician's Formula products are
made of the highest grade raw ingredients available. Products are
manufactured and packaged with strict Good Manufacturing Practices
(GMP) and all products are U.S.P. certified. Routine assays are
performed to assure the full potency of the product."
There is considerable synergy between the Earth's Pharmacy Physician's
Formula line of products and the other E.P. Distributing divisions:
Physician's Medical Supply Division: This division provides a
variety of supplies and products to medical and industrial
professionals. The Company sources quality inventory from
reliable manufacturers and partners with leading distributors
nationwide to provide its customers the utmost service and
satisfaction. As an example, it markets its private label
latex gloves for $4.50 per box versus comparable competitive
products being marketed at $9 to $17 per box. The average
professional office purchases $500 to $700 per month in
medical supplies.
Office and Computer Equipment & Supplies Division: This
division aids professionals in relieving their staff from
spending their time shopping for the best deals in office
supplies and equipment. The Company provides service,
products and programs to allow the clients to keep their
offices operating efficiently and economically. As an
example, it markets its products below the pricing for
leading office supply retailers.
E.P. Distributing also handles distribution, product fulfillment, and
warehousing for numerous other companies. The Company is dedicated to
the highest levels of customer service, and has a policy that requires
that live, knowledgeable personnel answer all calls.
About Lone Wolf Energy, Inc.
Lone Wolf Energy Inc. (Symbol: LWEI) is an exciting and dramatically
growing company that is fully reporting with audited financials.
Founded in 1997, Lone Wolf did not become publicly traded until
November 1998. At that time Marc Newman became its president and the
Company began implementing a proactive business plan. On February 22,
2000, Lone Wolf announced it had sold off its construction equipment
financing business unit for $1.625 million. Lone Wolf has turned a
profit in its first full year after going public. In view of that, Lone
Wolf's strategic business model is to have the Company investing in
stable businesses with a legacy of sustained profitability as well as
higher-risk companies. It is currently evaluating new investment
opportunities in addition to its acquisition of e-commerce-based E.P.
Distributing on March 6, 2000. E.P. Distributing has aggressive plans
to become the number-one marketer of health and nutritional products on
the Internet.
Forward-Looking Statements
Statements about the Company's future expectations, including future
revenues, earnings and transactions, as well as all other statements in
the press release other than historical facts are "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. The Company intends that such forward-looking
statements be subject to the safe harbors created thereby. Since these
statements involve risks and uncertainties and are subject to change at
any time, the Company's actual results and other corporate developments
could differ materially from that which has been anticipated in such
statements.
Copyright (C) 2000 Business Wire. All rights reserved.
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CONTACT: Lone Wolf Energy Inc., Oklahoma City
Marc Newman, 405/417-0276
Fax: 405/752-2913
E-Mail: www.yachts1@home.com
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