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Auric Enterprises (Ticker: AUIE) recently began trading on the OTC Bulletin Board. In fact, it has only been publicly traded since November 11, 1999. The company was initially engaged in the exploration, and possible development of its four Wild Mountain mining claims located in Trinity County, California. However, the company has just announced a reverse merger with Freedom Golf Corporation. Following the expected shareholder approval of the merger (meeting to take place on December 10, 1999), Auric Enterprises will change its name to Freedom Golf, and the officers of Freedom Golf will replace the current management of Auric Enterprises. Auric Enterprises has been trading between $1 and $1 3/8 over its brief trading history. The current float is 1.375 million shares (with 1.605 million outstanding). However, upon consummation of the merger, an additional +/- 9.8 million shares will be issued. (Note: this is all verifiable public information. Information has been extracted from SEC filings located on www.freeedgar.com under company name "Auric Enterprises"). Trading at present is light. . . due in large part to the one market maker requirement for the first month of trading. However, a investor relations and promotional campaign is slated to begin once the merger has been finalized. The merger with Freedom Golf should be extremely beneficial for Auric Enterprises, and its shareholders. Freedom Golf is a Colorado-based golf club manufacturer and distributor. It is founded and led by CEO John Johnson, a man with extensive golf experience and financial savvy. He was Vice President of the National Golfers Association from 1991 to 1992, where he was directly responsible for establishing a national Distribution Sales Program. In 1994 and 1995, Mr. Johnson was the President of "FORE" Improvement Corporation, a multi-dimensional golf company. He also held several positions in the investment banking industry, prior to entering the golf industry. Freedom was incorporated in 1996, and began sales of its high-end specialty custom clubs in 1998. Freedom's main focus is in the marketing and distribution of high-end quality golf clubs and golf schools. Freedom will establish its golf schools in major cities and states where golfers and golfing is abundant. These areas will help dictate growth and national format. Freedom will also market and distribute golf apparel for both men and women, golf caps, shoes, hats, golf bags and golf travel bags. Freedom has already signed a contract to establish its first Freedom Golf School at the Cobblestone Country Club in Pont St. Lucie, Florida. Freedom also plans to commence a national marketing campaign, featuring infomercials on the Golf Channel and on the Fox Sports Network. Much more information on Freedom Golf (and Auric Enterprises) can be found at www.freedomgolf.com and at www.freeedgar.com (under company name Auric Enterprises). Additionally, the press release announcing the merger is pasted at the bottom of this summary. Freedom Golf is poised to take advantage of two terrific trends in today's marketplace, both the growing popularity of the sport of golf, and the benefits of e-commerce. With well-seasoned management (and several golf pros on staff), there is no doubt that Freedom Golf is capable of successfully marketing their premium product. At present, an investment in Auric Enterprises provides a great way to purchase shares of Freedom Golf Corporation before it officially becomes public. (Providing shareholder approval of merger provisions, shareholders of Auric Enterprises will receive a one-for-one share exchange of Freedom Golf stock.) Good luck, and happy investing. Also, any input from users of Freedom Golf's products, or analysis of their business plan, would be greatly appreciated. Auric Enterprises and Freedom Golf Corporation Agree to Merger Business Editors HILTON HEAD ISLAND, S.C.--(BUSINESS WIRE)--Nov. 16, 1999--Auric Enterprises (OTC BB: AUIE) announced today that it has entered into an agreement with Colorado based Freedom Golf Corporation to merge the two companies. The reverse merger, which is subject to approval by the shareholders of both companies, will consist of the exchange of approximately 10 million shares of Auric stock on a one for one basis for all the outstanding shares of Freedom Golf. Freedom Golf is a Colorado corporation headquartered in Englewood, Colorado. Freedom Golf manufactures and distributes its own line of custom fit and standard golf clubs including its patented 345 Wood that is designed to replace three fairway woods in a golfers bag thereby allowing the golfer to add additional wedges to their arsenal for greater flexibility in their short game. Freedom Golf sells its clubs through its web site at freedomgolf.com and through direct sales to customers. The company is scheduled to begin a series of TV commercials before the end of the month. The company is planning to begin a series of infomercials early next year. According to John Johnson, President of Freedom Golf, "We are very excited about the opportunities which becoming a public company may provide. Response to our innovative technology and the quality of our manufacturing has been rewarding. More and more golfers, both high handicappers and young professionals are choosing our clubs over the more established brands. We are convinced that our 345 Wood when combined with our 4 Wedge System gives most players a distinct advantage when compared to the conventional club sets." Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. The Company intends that such forward-looking statements involve risks and uncertainties and are subject to change at any time, and the Company's actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. --30--AH/ch* CONTACT: Freedom Golf Corporation, Englewood, Co. John Johnson, 303/221-0331 | ||||||||||||||
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