SportsNuts, Inc., Enters Into Letter of Intent to Acquire Sports Marketing and Advisory Firm; Sports Solutions International Acquisition is Consistent with SportsNuts' Growth and Expansion Plan
Monday , May 23, 2005 16:00 ET
SportsNuts, Inc., (OTCBB: SPCI), a sports management and marketing company, announced today that it has entered into a Letter of Intent ("LOI") with Cavnar Sports to acquire Sports Solutions International, Inc. ("SSI"), which provides strategic, financial, marketing, legal, technological and operational consulting to athletes and sports manufacturing and distribution companies. SportsNuts expects to complete the acquisition within 30 days.
Under the terms of the LOI, SportsNuts, will acquire 100% of the outstanding shares of SSI which will, thereafter, become a wholly owned subsidiary of SportsNuts. After the acquisition, SSI will operate offices in Los Angeles and Salt Lake City, allowing broad exposure in different markets of the western United States. In addition, SportsNuts intends to retain the services of Jason Cavnar, CEO of SSI, which will allow a seamless transition and allow SportsNuts to utilize Mr. Cavnar's experience and numerous contacts in the sports industry.
Posts: 175 | From: Norwalk, CT | Registered: Apr 2005
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