Compass Capital Group to Fund up to $5 Million in Thoroughbred Interests, Inc.Business Editors LOUISVILLE, Ky.--(BUSINESS WIRE)--Feb. 18, 2004 Jim D. Tilton, Jr., Chairman, President 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. of Thoroughbred Thoroughbred Light breed of racing and jumping horse descended from three desert stallions brought to England between 1689 and 1724. Thoroughbreds have a delicate head, slim body, broad chest, and short back. Most are bay, chestnut, brown, black, or gray. Interests, Inc. (TBRE.OB) announced today that it has agreed to an investment banking deal with Wall Street-based investment firm Compass Capital Group. The agreement provides for a $5 million dollar financial commitment over the next 12 months. These funds will drive an aggressive acquisition campaign in which Compass Capital Group will continue playing a key role as an advisor and now as investment banker Investment Banker A person representing a financial institution that is in the business of raising capital for corporations and municipalities. Notes: An investment banker may not accept deposits or make commercial loans. . Mr. Tilton stated, "Compass Capital helped convert the Company into a Business Development Company ("BDC (Backup Domain Controller) In a Windows NT server, a copy of the Primary Domain Controller (PDC). The BDC is periodically synchronized with the PDC. See PDC. BDC - Backup Domain Controller "). They will now follow that up with a $5 million dollar financial commitment. With Compass Capital's financing, we will begin immediately to explore ways to expand the Company's business. We believe with this capital commitment we will be able to acquire and develop substantial revenues in the next 12 months." The proceeds from the investment will be used to help the Company expand into the gaming, racing and entertainment sectors as well as possibly others. As previously announced and subject to shareholder approval, the Company plans on changing its name to Phoenix Interests, Inc.. The name change better reflects the Company's intent to broaden its focus beyond the thoroughbred industry. ABOUT THE COMPANY Louisville, Kentucky-based Thoroughbred Interests, Inc.'s core historical business has been acquiring undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. yearling yearling an animal in its second year of age, e.g. yearling cattle, yearling filly, yearling colt. yearling disease rinderpest in wildebeeste in the Serengheti. thoroughbred horses Thoroughbred horse, breed of light horse more properly known as the English running horse. As its name implies, it was the first pedigreed, or "thoroughbred" horse. and reselling them as two-year-olds in training or as a racing prospect. This is commonly referred to in the thoroughbred industry as "pinhooking". The Company is currently looking to expand within the thoroughbred industry beyond its core pinhooking activities. The Company is also currently implementing new strategic corporate initiatives along with exploring potential acquisition candidates in gaming, entertainment and other sectors. Consistent with this broader focus, in January 2004 the Company elected to be regulated as a business development company. and in February 2004 to change it's name to Phoenix Interests, Inc. subject to shareholder approval. This news release contains 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 Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements are based on current expectations, estimates and projections made by management. The Company intends for the forward-looking statements to be covered by the safe-harbor provisions for forward-looking statements. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "desires," "potential," or variations of such words are intended to identify such forward-looking statements. The forward-looking statements set forth herein include a $5 million funding of the Company by Compass Capital Group, and the Company's intent to explore acquisitions in the gaming, entertainment and other sectors as well as significantly increasing revenues. All forward-looking statements in this press release are made as of the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" , and the Company assumes no obligation to update these forward-looking statements whether as a result of new information, future events or otherwise. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements. These uncertainties include those set forth in the Company's SEC reports, including the Company's Form 10-KSB and other filings. Copies of these filings are available through the SEC's electronic data gathering analysis and retrieval system (EDGAR Edgar or Eadgar (both: ĕd`gər), 943?–975, king of the English (959–75), son of Edmund, king of Wessex. In 957 the Mercians and Northumbrians rebelled against Edgar's brother Edwy and chose Edgar as their king. ) at http://www.sec.gov. |
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