CONSOLIDATED QDATA SYSTEMS ACQUISITION AGREEMENT ANNOUNCEMENT.VANCOUVER--(BUSINESS WIRE)--June 1, 1995--Consolidated QData Systems Inc. (QData) is pleased to announce that, pursuant to an acquisition agreement dated September September: see month. 21, 1994 with Carbite Golf, Inc. (Carbite), it has exercised its "second option" to acquire an additional 14% of Carbite's shares for $300,000 (US). Further to a news release of May 5, 1995 announcing a private placement of 1,100,000 units at $0.40 (CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. ), QData has been funded and the moneys required to complete this "second share acquisition" have been advanced on May 31, 1995 to Carbite Golf Inc. QData now owns 22% of Carbite. The Company is pleased to announce that Carbite Golf Inc. has embarked on a product launch advertising program in the USA incorporating Direct Response Television Marketing, commonly referred to as a "infomercial in·fo·mer·cial also in·for·mer·cial n. A relatively long commercial in the format of a television program. [info(rmation) + (com)mercial.] Noun 1. ". While typically commercials run from 15 seconds to 1 minute in length, an infomercial program is up to 30 minutes in length and allows viewers to place immediate orders or to request additional information. Carbite's technology with a wedge will be featured in this infomercial. Petersen's Golfing magazine, May 1995 issue, provides a three page overview of Carbite's wedges. Carbite has negotiated an agreement with another local golf club manufacturing company, to form a separate entity "Viper Bite Co." to produce and manage the infomercial described above. As a partner Carbite will supply clubs to Viper Bite Co., and the other partners will provide funds to Viper Bite Co. estimated at $500,000 to $600,000 (US). The funds will be used to design and build a production video and pay for television broadcast time. The agreement provides that the profits will be split between Carbite and Viper Bite Co. The infomercial is scheduled to start preliminary testing the first week of June June: see month. , 1995 and will be followed with television broadcast tests at strategic locations in the U.S.A. Tour players Gene Littler Gene Alec Littler (born July 21, 1930) is an American golfer. He was born in San Diego, California. A graduate of San Diego State University, he was one of the first of a new breed of college-educated golfers who turned professional after graduation. and J.C. Snead will be featured on the infomercial and will demonstrate the wedge play with the Carbite technology. This press release was prepared on behalf of the Board of Directors by the Undersigned un·der·signed adj. 1. Having signatures or a signature at the bottom or end. Used of documents. 2. Signed or having signed at the bottom or end of a document: who accepts full responsibility for its contents. ON BEHALF OF THE BOARD Per: "R. L. Reimer
NOTE TO EDITORS: The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). has not reviewed and and does not accept responsibility for the adequacy of this release. CONTACT: Consolidated QData Systems Inc. Ronald L. Reimer, 604/681-2402 |
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