Boundless Motor Sports Racing, Inc. d/b/a DIRT Motorsports Acquires Lernerville Speedway.NORMAN, Okla. -- Boundless Motor Sports Racing Inc., (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BMSR BMSR Black Moth Super Rainbow (band) ) (Boundless) d/b/a DIRT Motorsports, announced that it has executed a definitive purchase agreement for the purchase of Lernerville Speedway in Sarver, Pa. from Lernerville Speedway Inc. and its owners. The half-mile, clay oval with seating for approximately 11,000 built in 1967, hosted more than 30 races this past season including two World of Outlaws The World of Outlaws (often abbreviated WoO) is an American motorsports sanctioning body. The body sanctions two major national touring series. It is best known for sanctioning a national tour of sprint cars. Sprint Series and two World of Outlaws Late Model Series events. Closing of this transaction is dependent upon the satisfaction of certain conditions precedent. Lernerville Speedway was made famous by the late legendary track owner and promoter Don Martin. DIRT Motorsports purchased the track from Lernerville Speedway Inc., and Helen Martin Helen Dorothy Martin (July 23, 1909 – March 25, 2000) was an American actress of stage and television who is perhaps most well known for her role in the sitcom 227 as Marla Gibbs' neighbor Pearl. Martin was born in St. , Don's wife who was integral in the success of the racetrack. Lernerville Speedway, one of dirt track racing's most highly regarded facilities, just completed their 37th consecutive season of operation. "At DIRT Motorsports we will strive to make every effort to honor and carry on the great tradition and success that legendary Don Martin created, nurtured and maintained for so many years at the race track he cared so much for," said Bobby Hartslief, Boundless Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . "The decades-long success made it attractive and we feel it's a worthwhile investment and we are anxious to work with its extremely strong contingent of weekly racers and loyalists. We are also planning the development of a World of Outlaws Sprint Series Hall of Fame on the premises." "The acquisition of Lernerville Speedway follows our business plan of acquiring strategic dirt tracks across the country," said Paul A. Kruger, Boundless Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Lernerville's reputation and history will help us in our goals to significantly increase visibility of the World of Outlaws Sprint and World of Outlaws Late Model Series." About Boundless Motor Sports Racing, Inc. d/b/a DIRT Motorsports Based in Norman, OK, Boundless is a racing and sports entertainment company. Boundless is currently pursuing the acquisition of dirt motor sports racing sanctioning organizations, promotional organizations and racetracks in the United States. "World of Outlaws" is a registered trademark of Boundless. For further information on Boundless or this press release contact Terri Metzger, Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most at 1-877-5RACING (1-877-572-2464) Ext. 113, email press@dirtmotorsports.com or visit us online at www.boundlessracing.com, www.theworldofoutlaws.com, www.WoOLMS.com and www.dirtmotorsports.com 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. Statement This release may contain forward-looking statements as defined by 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, which involve risks and uncertainties. Among the important factors which could cause actual results to differ materially from those in the forward-looking statements are economic, competitive and technological factors effecting the company's operations, markets, merger and acquisition activities, products, services and prices, as well as other factors detailed in the company's filings with the Securities and Exchange Commission. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion