Newriders Merger With Paisano and El Paso Bar-B-Que Approved by Shareholders; Company Approved for Listing on American Stock Exchange.NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Sept. 22, 1998--Newriders Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:NWRD) said today that its shareholders had overwhelmingly approved the mergers with Paisano pai·sa·no also pai·san n. pl. pai·sa·nos also pai·sans 1. A countryman; a compatriot. 2. Slang A friend; a pal. Publications Inc. (and its affiliated companies Affiliated Companies A situation that occurs when one company owns a minority interest (less than 50%) in another company. Also refers to companies that are related to each other in some way. Notes: An affiliated company is sometimes referred to as a subsidiary. ) and the El Paso Bar-B-Que chain of restaurants. Upon consummation of the reorganization, scheduled for Sept. 23, 1998, the reorganization will result in a new, publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. named Easyriders Inc., and shareholders of Newriders Inc. will exchange their stock for Easyriders Inc. on a two-for-one basis, i.e., two shares of Newriders Inc. for one share on Easyriders Inc. The new company will have pro-forma revenues for the six months ending June 30, 1998 of slightly over $22 million, according to documents filed with the Securities and Exchange Commission. The company also announced that Easyriders Inc. has been accepted for trading on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. , beginning later this week, under the symbol EZR EZR Ezra . Bill Prather, chief executive officer of Newriders and Easyriders, commented, "This is a landmark event for all of us. Our shareholders have given us a big vote of confidence, and our presence on the American Stock Exchange puts us in elite company. Now we begin the real work of growing the tremendous business base established over the last 27 years by Joe Teresi and his team. "Easyriders Inc. is a powerful communications and retail company," Prather added. "Our market is comprised of all those individuals and groups who participate, actively, passively, or vicariously, in the sport of motorcycling. We'll provide an increasingly broad array of products and services to that market through our publishing and media activities, through a growing network of franchisees that sell motorcycles, accessories, apparel and other items, through a planned nationwide chain of El Paso Bar-B-Que and Easyriders Roadhouse road·house n. An inn, restaurant, or nightclub located on a road outside a town or city. roadhouse Noun a pub or restaurant at the side of a road Noun 1. Bar-B-Que restaurants, and through a very active series of motorcycle related events such as motorcycle shows, rodeos, and participation in other major sports events. "What we really have is a great name, and we intend to build on that name to create an international brand that communicates the freedom, fun and excitement of motorcycling." Statements made in this news release that relate to future plans, financial results or projections, events or performance are forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and fall under 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. . The company's actual results and financial position could differ materially from those anticipated in the forward-looking statements as a result of a number of factors, including but not limited to: successful execution of the company's expansion plans, impact of competition, the availability of additional financing and other risks. |
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