DAMARK International, Inc. Announces New Name: Provell, Inc. First Step in Evolution to New Company.Business Editors MINNEAPOLIS--(BUSINESS WIRE)--April 19, 2001 Company Retains BlueFire Partners, Inc.; BlueFire Research Initiates Coverage of Provell DAMARK International, Inc. (Nasdaq:DMRK) announced today that it will change its name to Provell, Inc. effective Tuesday, April 24, 2001. The Company will also replace its former trading symbol Trading symbol See: Ticker symbol with the new Nasdaq trading symbol PRVL, beginning at market opening on Tuesday, April 24, 2001. More than a decade ago the Company began marketing membership programs to catalog consumers, growing the business into a $134 million marketing solutions company generating positive cash flow. Despite its attractive business model and performance, the enterprise value of this business has been hidden inside much larger, but now discontinued, catalog and e-fulfillment operations. Provell now stands ready to continue its growth strategy and capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. a proven, successful business model. "We are extremely enthusiastic about this first of many steps in changing the direction of the company to focus on the science and art of customer relationship management," said George S. Richards, the Company's Chairman, President and Chief Executive Officer. "We are anxious to get this last year of distractions behind us and focus on building a solid new foundation for Provell." The Company also announced today that it has engaged BlueFire Partners to provide investor relations Investor relations The process by which the corporation communicates with its investors. services. BlueFire Research has initiated coverage on the Company and its industry. Provell, Inc. develops, markets and manages leading edge membership and customer relationship management programs. Provell's proprietary programs provide purchase price discounts and other benefits related to consumer and small business needs in the areas of shopping, travel, hospitality, entertainment, health/fitness, and finance. As of December 31, 2000, consumers enjoyed benefits provided through more than 2.6 million memberships. The Company is headquartered in Minneapolis, Minnesota “Minneapolis” redirects here. For other uses, see Minneapolis (disambiguation). Minneapolis (pronounced IPA: /ˌmɪniˈæpəlɪs/) is the largest city in the U.S. , and was founded in 1986. BlueFire Partners, Inc. is a research-driven, professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. firm that focuses on increasing the value of its clients through relationships that employ the dynamic disciplines of corporate communications Corporate communications is the process of facilitating information and knowledge exchanges with internal and key external groups and individuals that have a direct relationship with an enterprise. , investor relations, graphic print and web design, enterprise improvement consulting and training and capital markets advice and counsel. The firm's expertise is applied through a unique business model that incorporates original market and investment research, media relations, performance improvement, consulting and advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal in a strategic package designed to increase the market and enterprise value of clients. BlueFire Research, a subsidiary of BlueFire Partners, Inc. Capital Markets Group, is an SEC-registered investment adviser providing investment research on small-capitalization growth companies. BlueFire Partners Capital Markets Group also specializes in mergers and acquisition advisory, valuation advisory and fairness opinions Fairness Opinion A report put together by qualified analysts or advisors providing to key decision makers an evaluation of and facts about a merger or acquisition. Notes: A fairness opinion serves as a document used for guidance in a merger, takeover, or acquisition. , and capital formation advisory. Any statements herein regarding the business of DAMARK International, Inc. (Provell, Inc.) that are not historical facts are "forward-looking statements" that are intended to qualify for the 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. provisions from liability provided 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. For a discussion of risks and uncertainties that could cause actual results to differ from those implied by any forward looking statement, see "Forward-Looking Information" in the Company's most recent Annual and Quarterly Reports on Forms 10-K and 10-Q and the disclosures under the Sections entitled "Risk Factors" and "Recent Developments" in the Company's Form S-3 Registration Statement (File No. 333-48776), all the disclosures under the Sections entitled "Risk Factors" and "Recent Developments" in the Company's Form S-3 Registration Statement (File No. 333-48776), and see our report on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. dated February 27, 2001 regarding information on our recent private placement of $14.2 million in 10% senior convertible notes due February 4, 2002 and the exhibits thereto for the terms of those convertible securities, all as filed with the Securities and Exchange Commission. |
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