TRSG Corporation Closes on Stock Transfer With Gateway Distributors, Ltd.
LAS VEGAS--(BUSINESS WIRE)--Jan. 11, 2001
TRSG Corporation (f/k/a Professional Wrestling Alliance Corporation) (OTCBB:TSGO) today announced that it has closed on the previously announced stock transfer with Gateway Distributors, Ltd. effective as of today.
The Acquisition Agreement was originally signed on October 12, 2000 between the parties. The Acquisition Agreement set forth that Gateway would sell to TRSG the bulk of its assets and operating business "The Right Solution" in exchange for 13,448,660 (post reverse) shares of the common stock of TRSG. The closing and the transfer of the assets and securities took place today after the companies were able to conclude the necessary actions required by the Acquisition Agreement. These actions included an agreement for the settlement of the judgments held by Pennsylvania Insurance Commissioner against TRSG through a series of future payments in the total amount of $50,000 to be concluded by March 31, 2001.
TRSG will operate the network marketing company that does business under the name "The Right Solution." This company sells nutritional, health and dietary supplements and products throughout North America and Japan. The Right Solution product line is based on the premise that the food of the future will come from the past. It is through special blends of ancient whole foods such as grains and vegetables that optimum health can be achieved. After years of research, science has proven that whole-food nutrition, combined with nature, will both cleanse the body and feed the body on a cellular level. TRSG acquired all of the business and existing networking distribution operations of The Right Solution. TRSG also becomes a more than 80% owned subsidiary of Gateway Distributors, Ltd.
A number of statements contained in this news release are forward-looking statements which should be considered in conjunction with the SEC filings (quarterly, annual and special reports) of TRSG. These forward-looking statements involve a number of risks and uncertainties, including the timely development, and market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions and the ability to secure additional sources of financing. The actual results that TRSG may achieve could differ materially from any forward-looking statements due to such risks and uncertainties.
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|Date:||Jan 11, 2001|
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