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Torpedo Sports USA, Inc.
TORPEDO SPORTS SIGNS LICENSING AGREEMENT TO MARKET SNOW PRODUCTS UNDER THE FLEXIBLE FLYER, MONGOOSE AND SCHWINN BRAND NAMES.
12/23/2002
Palm Beach Gardens, Florida - Torpedo Sports USA, Inc. (OTC/BB: TPDO) announced today that its wholly owned subsidiary, Torpedo Sports, Inc. ("Torpedo'"), of Quebec, Canada, signed a licensing agreement with Pacific Cycles, LLC, of Madison, Wisconsin. Subject to the terms of the five-year agreement, Torpedo has an exclusive license to the Flexible Flyer and Mongoose brand names, and a non-exclusive license to the Schwinn brand name, to market all "snow products" including metal runner sleds, toboggans and snowboards.
Ed Shake, President of Torpedo Sports stated, "We are very excited to be adding these long-standing well respected brand names to Torpedo's snow products line and look forward to introducing them at the upcoming New York Toy Fair in February 2003. Flexible Flyer, established in 1889, is one of the oldest and most prestigious brand names in winter snow products while the Schwinn and Mongoose names are instantly recognizable from their bicycle and sporting goods heritage. We feel the wide name recognition of these brands will support and strengthen our existing product line within all of our channels of distribution."
Torpedo Sports USA, Inc., through its wholly-owned subsidiary Torpedo Sports, Inc., was founded in 1942 in St-Narcisse, Quebec, Canada and is a manufacturer and distributor of outdoor recreational products for children such as toboggans, baby sleds, snowboards, tricycles, scooters and skateboards. Torpedo Sports? products, manufactured in two factories in Quebec, are sold through a well-established and diversified customer base located throughout Canada and the United States in the value-for-money segment of their respective markets. A market leader in many of its product categories, Torpedo Sports? products are sold through the larger hardware, sports specialty, mass merchant, toy and department stores.
The statements included in this press release concerning predictions of economic performance and management's plans and objectives constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. These statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, factors detailed in Torpedo Sports USA, Inc.?s (f/k/a e Nutrition, Inc.) Securities and Exchange Commission filings; economic downturns affecting the operations of Torpedo Sports USA, Inc. and its subsidiaries; the inability to initiate or complete any contemplated restructuring, offering, acquisition, disposition or other transaction; adverse financial performance by Torpedo Sports USA, Inc. or its subsidiaries; the inability to successfully introduce new products or services; the inability to reduce interest costs; and the unavailability of financing to complete management's plans and objectives. The forward-looking statements contained in this press release speak only as of the date hereof and Torpedo Sports USA, Inc. disclaims any intent or obligation to update these forward-looking statements.
For Further Information Contact:
Torpedo Sports USA, Inc.
Thomas B. Olson
(303) 796-8940
r
12/23/2002
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cialis helyett readEd Shake, President of Torpedo Sports stated, "We are very excited to be adding these long-standing well respected brand names to Torpedo's snow products line and look forward to introducing them at the upcoming New York Toy Fair in February 2003. Flexible Flyer, established in 1889, is one of the oldest and most prestigious brand names in winter snow products while the Schwinn and Mongoose names are instantly recognizable from their bicycle and sporting goods heritage. We feel the wide name recognition of these brands will support and strengthen our existing product line within all of our channels of distribution."
Torpedo Sports USA, Inc., through its wholly-owned subsidiary Torpedo Sports, Inc., was founded in 1942 in St-Narcisse, Quebec, Canada and is a manufacturer and distributor of outdoor recreational products for children such as toboggans, baby sleds, snowboards, tricycles, scooters and skateboards. Torpedo Sports? products, manufactured in two factories in Quebec, are sold through a well-established and diversified customer base located throughout Canada and the United States in the value-for-money segment of their respective markets. A market leader in many of its product categories, Torpedo Sports? products are sold through the larger hardware, sports specialty, mass merchant, toy and department stores.
The statements included in this press release concerning predictions of economic performance and management's plans and objectives constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. These statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, factors detailed in Torpedo Sports USA, Inc.?s (f/k/a e Nutrition, Inc.) Securities and Exchange Commission filings; economic downturns affecting the operations of Torpedo Sports USA, Inc. and its subsidiaries; the inability to initiate or complete any contemplated restructuring, offering, acquisition, disposition or other transaction; adverse financial performance by Torpedo Sports USA, Inc. or its subsidiaries; the inability to successfully introduce new products or services; the inability to reduce interest costs; and the unavailability of financing to complete management's plans and objectives. The forward-looking statements contained in this press release speak only as of the date hereof and Torpedo Sports USA, Inc. disclaims any intent or obligation to update these forward-looking statements.
For Further Information Contact:
Torpedo Sports USA, Inc.
Thomas B. Olson
(303) 796-8940
r
TORPEDO SPORTS SIGNS LICENSING AGREEMENT TO MARKET SNOW PRODUCTS UNDER THE FLEXIBLE FLYER, MONGOOSE AND SCHWINN BRAND NAMES