![]() | ||
![]() | ||
|
Contact
John Johnson ENGLEWOOD, Colo. (January 2, 2002) -- Freedom Golf Corp. (OTCBB:FGLC) today announced it had entered into a distribution agreement with Trinity Golf, Inc., a privately held golf club manufacturer based in Tustin, California. Trinity Golf, Inc. has agreed to act as a distributor for Freedom Golf and market the inventory of Freedom Golf through their expanding network, with the emphasis being placed on the unique Freedom 345 fairway wood. CEOs John Johnson of Freedom Golf and Greg DeBenon of Trinity Golf believe the agreement is mutually beneficial with the goal of eliminating debt and liabilities from the balance sheet of Freedom Golf prior to executing the previously announced intent to merge the two companies. The proposed merger is subject to various conditions, including execution of a definitive agreement and obtaining shareholder approval. In the event the proposed merger is successfully consummated, the Trinity shareholders will be issued shares of Freedom's common stock equal to an 85% interest, and the Company's name will be changed to "Trinity Golf Holding Corp." The proposed merger is expected to provide synergy between Freedom's existing line of proprietary golf clubs, including the Freedom 345 (which is a 3, 4 and 5 fairway wood combined into one club), and Trinity's current line of golf clubs, by utilizing Trinity's demonstrated expertise in marketing golf clubs by use of infomercials. Upon closing of the proposed merger, John Johnson, CEO of Freedom Golf, will remain with the surviving company in the capacity of executive vice president and a director. Greg DeBenon, Trinity's current CEO, will be appointed CEO of the surviving company. Mr. Johnson stated, "Trinity has demonstrated an ability to generate substantial revenues through the use of infomercials to market its golf clubs while maintaining excellent customer service and high-quality products." Trinity has demonstrated its ability to direct market its Stiletto II Beta Titanium Driver through the use of a 30-minute infomercial. Mr. DeBenon stated that the proposed merger "is a natural continuation of our marketing program. We are very excited about our proposed alliance with Freedom." It is anticipated that the proposed merger will be consummated within the next 60 days.
keywords: Freedom Golf, Trinity Golf, John Johnson, Greg DeBenon | ||