Thrive Development Closes Acquisition of Heritage Equestrian Centers, Inc.Business Editors NORCROSS, Ga.--(BUSINESS WIRE)--Feb. 15, 2002 Thrive Development, Inc. (Pink Sheets:THVD) announced today that it has closed the acquisition of Heritage Equestrian equestrian a rider of horses. Centers, Inc. Heritage was formed in 2001 with the intention of acquiring horse farms and stables through either lease or purchase. Once under management of Heritage, these equestrian centers will be given a uniform structure on which to operate. The goal for this structure is to consistently provide the highest quality service available to the horses and their owners. Heritage has plans to build a network of these facilities starting in the eastern portion of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and expanding to other parts of the country once the model is tested and proven. As a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Thrive plans to help Heritage with the management of the company on the corporate level. Thrive will take on the responsibility of marketing Heritage and its services which include boarding, training, lessons, horse sales, shows, clinics, camps and many other equestrian activities. Feroz Agad, CIO CIO: see American Federation of Labor and Congress of Industrial Organizations. (Chief Information Officer) The executive officer in charge of information processing in an organization. of Thrive Development, had this to say, "We are looking forward to helping Heritage grow 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>. what we feel is an untapped market. We feel that Heritage's plans to apply a consistent structure to equestrian centers will create a solid reputation for trustworthy horse care and a system where everyone involved will benefit." About Thrive Development, Inc. Thrive is a development holding company with a focus on finding, acquiring, and developing businesses with excellent potential profitability. Through cash infusion and improved management, Thrive will provide its subsidiaries with the necessary tools to reach optimum success. Management is looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. a diverse group of subsidiaries that meet certain criteria and may one day feed business to one another if synergy between one or more exists. From time to time, the company may issue 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. , which involve risks and uncertainties. This statement may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as actual results could differ and any forward-looking statements should be considered accordingly. |
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