Alfa Extends Exercise Date For Warrants.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Alfa International Corp. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: TYBR), today announced that it has extended the exercise date for its common stock purchase warrants ("Warrants") held by owners of its Series B Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. . All such unexercised Warrants will now expire on September 30, 2006. Alfa's president, Frank Drohan, remarked, "The Board of Directors decided that the holders of the Preferred Stock should have the continued possibility of benefiting from the ownership of the Warrants. We are very pleased with the progress we have been making in our Contact Sports, Inc. subsidiary (Contact) - both with respect to Contact's product design and marketing efforts. Contact is now actively marketing its products to both regional and national department store chains and sports specialty stores Noun 1. specialty store - a store that sells only one kind of merchandise shop, store - a mercantile establishment for the retail sale of goods or services; "he bought it at a shop on Cape Cod" ." Contact designs manufactures and markets a unique brand of athletic apparel with a fashionable edgy look and feel, incorporating new and interesting fabrics & design concepts. Featuring a full multi seasonal line for the most popular sports, Contact offers shorts, shirts, sweat-suits, T-shirts, jackets, caps, etc. for basketball and other sports, as well as a fashionable line of warm-ups. Contact sells its products to specialty retail stores and department stores This is a list of department stores. In the case of department store groups the location of the flagship store is given. This list does not include large specialist stores, which sometimes resemble department stores. nationwide. The product line is directed at men & young men's -- 14 to 27 years of age. Contact's president, Kye Giscombe remarked, "Contact has full Spring, Fall and Holiday collections and the product is being received very well in presentations to our major target customers." Contact Sports is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Alfa Alfa's president, Frank Drohan went on to say, "Also Journey of Light, Inc. (JOL), the company which Alfa has the option to acquire, has made significant progress in its efforts to finalize its "Qutopia" project in Qatar." Qutopia is a substantial real estate development project being pursued by JOL in the Persian Gulf Persian Gulf, arm of the Arabian Sea, 90,000 sq mi (233,100 sq km), between the Arabian peninsula and Iran, extending c.600 mi (970 km) from the Shatt al Arab delta to the Strait of Hormuz, which links it with the Gulf of Oman. State of Qatar. Qutopia's development costs are expected to be several hundred million dollars. JOL will own, operate and manage the entire Qutopia project, including its planned theme park, hotels, retail facilities and residential housing. Pursuant to its contract with the State of Qatar, JOL has recently completed its feasibility study The analysis of a problem to determine if it can be solved effectively. The operational (will it work?), economical (costs and benefits) and technical (can it be built?) aspects are part of the study. Results of the study determine whether the solution should be implemented. for the Qutopia project, has presented it to the State of Qatar and is awaiting their final evaluation. Alfa International Corp. (OTC BB: TYBR) has an option to acquire JOL in accordance with the terms of the agreement attached as an exhibit to Alfa's annual filing on Form 10-KSB with the Securities & Exchange Commission for the year ended December 31, 2003. Frank J. Drohan is the president of Alfa and of JOL. This press release may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The risks and uncertainties that may affect the operations, performance development and results of the Company's business include but are not limited to fluctuations in financial results, availability and customer acceptance of our products and services, the impact of competitive products, services and pricing, general market trends and conditions, and other risks detailed in the Company's SEC reports. For more information contact: Frank J. Drohan Alfa International Corp. The Empire State Building Suite 1103 350 Fifth Avenue New York, N.Y. 10118 Tel: 212-563-4141 Fax: 212-563-3355 E-mail: frankd@contactsports.net |
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