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At a time when large corporations are buying up smaller ones in the communications and technology sectors, a group of individuals have come together to form a new company with a revolutionary idea. The name of the company is Granite Golf Group, Inc. The idea is to manage, acquire and develope high quality golf courses around the country and the world. Granite Golf Group, Inc. (GGGI) is currently traded on the NASDAQ bulletin board. GGGI is a fully integrated golf management company who's services include management, acquisition, design and development of public and private golf facilities both nationally and internationally. They have a unique approach in that they have created an industry and management niche. History Through a predecessor company, Granite Golf was founded in 1995 by Elliot Lewis, a venture capitalist from Toronto, Canada, who recognized the opportunity to participate in the consolidation of the highly-fragmented golf industry. Within eighteen months, the Company was operating five golf properties through its acquisition of GT of Orlando in June of 1996. In July of 1997 Granite Golf, through the assistance of a company controlled by the Hunt family of Dallas, acquired the management division of Brassie Golf Corporation. The Company continued its expansion throughout 1997 by teaming with Golf Trust of America, Inc. (a Real Estate Investment Trust), wherein the Company entered into agreements to lease and operate three golf properties acquired by Golf Trust. In March 1998, Granite Golf added it's sixth leased golf property. Executive Summary Granite Golf is one of the largest operators of golf facilities in the United States. The Company, as of March '98, currently operates 28 golf facilities in twelve States primarily in the Florida, Mid-Atlantic, and East Coast golf markets. Granite is now expanding into the Midwest with recently leased courses in Omaha, Nebraska and Louisburg, Kansas. A majority of the clubs operated by Granite are high-end private or semi-private facilities. Of the twenty-eight facilities operated, four are leased properties; three are construction management projects; and the twenty-one courses are managed properties. Granite's construction management division is supervising the development of an 18-hole municipal course in San Antonio, Texas; an 18-hole course in Tunica-Biloxi, Mississippi, and has just completed the construction of a 36-hole facility in Somerville, New Jersey for Chubb Insurance. Mission Statement Granite Golf is committed to exceeding the expectations of our customers, employees, and business partners through value and service. We are dedicated to creating a fun environment, delivering a consistent product, while treating all with fairness and respect. For more information, contact: Granite Golf Group, Inc. 15170 North Hayden Road, Suite 106 Scottsdale, AZ 85260 Marney Edwards, President (602)905-0978 ext 105 / (602)905-0979 Fax email: marney@granitegolf.com / Internet: granitegolf.com | ||||||||||||||
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