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We have a start-up high potential opportunity to wrap up some big profits here! This is my first thread so I'll start it off with the most recent news release. >>Tuesday March 24, 11:13 pm Eastern Time Company Press Release Woodie I Makes Announcement TORONTO--(BUSINESS WIRE)--March 24, 1998--Woodie I Inc., a Nevada Corporation publicly traded and listed on the NASD Bulletin Board, is pleased to announce the following changes on the Board of Directors and the direction of the Company. The Board of Directors has been changed to include Mr. Peter Filion, President and Chairman of the Board; Mr. Kevin Murray, Director and Secretary/Treasurer and Mr. Barry Loescher, Director. The new management team reflects the change in direction of the Company's operations, effective immediately. Woodie I Inc. is now poised to acquire emerging or established corporations with a view to assist in the development, expansion and long term success of each acquisition. The Company has reached an agreement with the shareholders of Sun Packaging, Inc. of Toronto, Ontario to acquire the corporation for 10 million restricted shares of Woodie I. Sun Packaging will become a 100% wholly owned subsidiary of Woodie I. The food wrap packaging concern marketing a diverse range of products including clear plastic PVC food wrap, the newly emerging alternative food wrap using Polyethylene, and aluminum foil. All products are available in either industrial/commercial rolls or traditional consumer sizes. Sun Packaging will be among the first to market in North America the alternative to PVC wrap, commonly marketed under the trade names of Glad Wrap, Cling Wrap and Handi Wrap. It is anticipated that Sun Packaging will generate revenues in the range of $7.5 million in the first full year of operation commencing June, 1998. Sun Packaging will be licensed by Permapack, a.g. of Switzerland to import and manufacturer the product based on proprietary technology developed by Permapack over the last 10 years. Prior to Permapack's technological breakthrough early polyethylene wraps were inferior. Permapacks's polyethylene wrap has the same characteristics of PVC wraps such as stretchability, cling ability, breath ability without added plasticizers thus allowing the food to remain fresher longer. Permapack, is a US$50 million company with 40 years experience in manufacturing and distribution of food wraps and related products. The license is available for 25 years with an option to renew for an additional 15 years. Woodie I has agreed to provide Permapack with 500,000 restricted shares issued under Rule 3d (144). In addition, Permapack has agreed to sell Woodie I extrudes and roll machines at extremely competitive prices to assist in the speedy commencement of operations. Woodie I will be importing the finished product directly from Permapack to fill the initial orders prior to availability of manufactured product from the proposed 192,000 sq. ft. plant in Collingwood. Key markets for the commercial product lines are food chains, restaurants, institutions, hotels, and delis initially in regions in NAFTA countries. The Company will also package consumer sized rolls for individual customers on a private label basis. All products will be marketed and distributed through the Company's market arm, Sun Packaging Inc. The Company is currently trading under the symbol WDEE. Inquiries regarding the company may be directed to Peter Filion at 1-800-522-0921. ------------------------------------------------------------------------ Contact: Woodie I Peter Filion, 800/522-0921 JOE TURMAINE | ||||||||||||||
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