DIMPLES GROUP ANNOUNCES CORPORATE UPDATE
DIMPLES GROUP ANNOUNCES CORPORATE UPDATE VANCOUVER, British Columbia, March 12 /PRNewswire/ -- Dimples Group
Inc. (OTC Bulletin Board: DPLGF) today announced that the continued role of J. Douglas Elliott, as an officer and director of the company, has now been clarified with the Vancouver Stock Exchange. Further, outstanding informational requirements have been fulfilled to the satisfaction of the Exchange.
The company also announced that the joint venture production agreement with Finsa Grupo Arguelles has been executed and delivered and that the Vancouver Stock Exchange has accepted such an agreement for filing. The Vancouver Stock Exchange has also accepted for filing the distribution agreement with AIMS Corporation. The company has also filed its investor relations contract made with W.P. H. Consultants Ltd. with the Vancouver Stock Exchange. The company reports net revenues from sales for January and February, 1992 as follows: January -- approximately US $125,000; and February -- approximately US $100,000. Net revenues from sales represent substantial one-time opening order discounts and slotting fee allowances. The company's inventories at Feb. 29, 1992 were US $428,151, consisting of US $219,501 raw materials, and US $208,650 finished goods, which, when sold represent approximately US $900,000 in sales for the company. By previous press release dated Feb. 11, 1992, the company reported sales commitments of approximately US $750,000 for February delivery. The company and AIMS Corporation re-evaluated delivery dates in respect of these announced February sales commitments and determined to delay shipment of a number of these orders until March 1992 to coincide with the launch of the company's comprehensive marketing support program, including television advertising, media, public relations, in-store demonstrations and couponing, commencing March 30, 1992 in San Francisco and greater Northern California, and May 4, 1992 in Los Angeles, Southern California and Colorado. The company also announced that Rupert L. Bullock, a director of the company, has been appointed director of regulatory affairs and will be responsible for the conduct of public disclosure and regulatory matters on behalf of the company. Dimples Group Inc., publicly held, is based in Toronto, with offices in Vancouver, San Francisco, Los Angeles, Portland, Ore., New York, Brownsville, Texas, and Metamoros, Mexico. The company markets the Dimples Deluxe Diapering System. The company's shares trade on the Vancouver Stock Exchange under the symbol "DDD," and on NASD's OTC Bulletin Board under the symbol "DPLGF." -0- 3/12/92 /CONTACT: Rupert L. Bullock of Dimples, 604-684-8290/ (DPLGF) CO: Dimples Group Inc. ST: British Columbia IN: SU: SM -- NY021 -- 7695 03/12/92 10:25 EST
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|Date:||Mar 12, 1992|
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