Aussie Apparel Announces Launch of Hot Tuna and Xisle Brands in Canada; Forecasts US$15 Million in Additional Revenues Over Next 5 Years.Business Editors LOS ANGELES--(BUSINESS WIRE)--May 1, 2003 Aussie Apparel Group Ltd. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AAPP AAPP Administraciones Públicas (Spanish ministry) AAPP Assistance Association for Political Prisoners (Burma) AAPP Association of Asian Parliaments for Peace ), an emerging growth apparel company focused on the extreme sports extreme sports Sports events characterized by high speed or high risk. Such sports include aggressive inline skating, wakeboarding, street luge, skateboarding, and freestyle bicycle events (wherein tricks such as back flips are performed on a bicycle). enthusiast, announced today that it has engaged NRI NRI Nomura Research Institute (Tokyo, Japan) NRI Non-Resident Indian NRI Natural Resources Institute NRI National Resources Inventory NRI Networked Readiness Index NRI Natural Resources Inventory NRI National Research Institute Distribution Inc. of Kamloops, British Columbia, to handle the distribution of Aussie Apparel's Hot Tuna and Xisle brands in Canada. According to the agreement, NRI will handle all incoming shipments into Canada. NRI will also break down and inventory the apparel product as well as handle all picking and packing of outgoing orders to all retailers in Canada. All Hot Tuna and Xisle customer service work for Canada, including order entry and credit/collections, will be handled by Aussie Apparel from Los Angeles. Stewart Kawamura, National Sales Manager of Aussie Apparel, said, "We are pleased to announce the emergence of Aussie Apparel's presence in Canada. Just as Southern California is trend-setting territory for extreme sports in the U.S., the greater Vancouver area represents a similar situation in Canada. We expect the services of NRI Distribution, together with our expanding sales force in the region, to significantly enhance Aussie Apparel's presence and sales in Canada." The Company is presently forecasting US$15 million in revenue from the Hot Tuna and Xisle brands in Canada over the next five years. Aussie Apparel also announced that it has hired two new sales representatives in Western Canada to cover the Company's Hot Tuna brand. Daryl Ryan, an action sports industry veteran of 12-years, will direct sales for the British Columbia region, and Jason Flynn of Calgary, Alberta, a 14-year veteran of the snow, skate and surf industry, will cover the Calgary market. The Company expects to announce additional sales representatives for the Toronto and Montreal markets shortly. The Company recently announced an agreement with Frontier International Holdings (FIH FIH Fédération Internationale de Hockey (French) FIH Factor Inhibiting HIF FIH first in human (clinical trial) FIH Flight Information Handbook FIH Kinshasa, Zaire - Kinshasa ) of Australia, as its first exclusive licensee covering Australia, New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. , Fiji, New Caledonia and the Pacific Islands. About NRI Distribution NRI Distribution Inc. is a 3rd party logistics provider, established in 1997, whose services are directed specifically toward the Action Sports, Surf/Skate/Snow and Outdoor Industry. The leader in fulfillment services for Non-resident Importers, NRI operates facilities across Canada totaling 120,000 square feet. The Company currently handles more than 40 key brands in these specialty markets. About Aussie Apparel Group Ltd. Aussie Apparel Group is an emerging growth apparel company focused on the rapidly growing board sports apparel market, both domestically and internationally. Aussie Apparel uses a multi-branded and multi-distribution approach to market and distribute its four brands: Hot Tuna, a line of apparel and merchandise focused on the surfing enthusiast sold through core specialty shops and chains; Xisle, which targets the surfer and skater through mid-tier department and sporting goods chains; and Piranha piranha: see characin. piranha or caribe Any of several species of deep-bodied, carnivorous fishes in the genus Serrasalmus (family Characidae), abundant in rivers of eastern and central South America and noted for voracity. Boy/Piranha Girl brands which target the children's mass market segment with surf-inspired apparel for children. For more information, visit: www.aussieapparelgroup.com or www.otcfn.com/aapp . SAFE HARBOR Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. This release is intended as a forward-looking statement 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. Actual results may vary materially from projected results. |
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