Printer Friendly

TRIPLE THREAT ENTERPRISES ANNOUNCES AGREEMENT IN PRINCIPLE

 TRIPLE THREAT ENTERPRISES ANNOUNCES AGREEMENT IN PRINCIPLE
 CRANFORD, N.J., July 17 /PRNewswire/ -- Triple Threat Enterprises,


Inc. (NASDAQ: BOXR) today announced that it has an agreement in principle with Great American Recreation, Inc., a publicly-held company engaged in the operation of an action park and ski area in New Jersey and its wholly-owned subsidiary, Great American Boxing, Inc., to sell the company's remaining 12.5 percent interest in the company's fighters and the name "Triple Threat" to Great American Boxing in exchange for 1,000,000 shares of Great American Recreation's common stock and a five year warrant to purchase 1,000,000 shares of Great American Recreation's common stock at an exercise price of $3.00 per share.
 The company has also agreed to provide a loan to Great American Recreation in connection with the transaction. The company's loan may be converted at the option of the company into 250,000 shares of Great American Recreation's common stock. Such agreement is subject to receipt of necessary board and other approvals and the negotiation and finalization of a contract, and, accordingly, there can be no assurance this transaction will be consummated.
 Great American Boxing has assumed the company's obligations under its management and training agreements as well as all expenses of training and operating the company's gym pursuant to a certain acquisition of assets agreement dated as of March 31, 1992.
 Triple Threat Enterprises has been in the business of providing management and training services, facilities and career business advice to professional boxers. Triple Threat through John E. Dell will continue to manage the company's fighters.
 -0- 7/17/92
 /CONTACT: Robert DeFilippis, CFO of Triple Threat Enterprises, 908-276-7174/
 (BOXR) CO: Triple Threat Enterprises, Inc.; Great American Recreation, ST: New Jersey IN: SU:


LD-TM -- NY002 -- 0077 07/17/92 08:00 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 17, 1992
Words:302
Previous Article:PLATINUM technology REPORTS SECOND QUARTER EARNINGS
Next Article:MOLDFLOW INJECTION MOLDING ANALYSIS SOFTWARE AVAILABLE ON CRAY RESEARCH SUPERCOMPUTERS
Topics:


Related Articles
HARVEY GROUP ANNOUNCES AGREEMENT IN PRINCIPLE FOR ACQUISITION OF THE BOERNER COMPANY BY MERKERT ENTERPRISES
TRIPLE THREAT ENTERPRISES TO CHANGE NAME TO GAMING DEVICES
TRIPLE THREAT ENTERPRISES TO CHANGE NAME TO GAMING DEVICES
TRIPLE THREAT ENTERPRISES ANNOUNCES AN AGREEMENT WITH GREAT AMERICAN RECREATION, INC.
SOUTHWEST AIRLINES TO ORDER 12 BOEING 737s
LOTTERY ENTERPRISES AND INTERLOTT REACH AGREEMENT IN PRINCIPLE FOR INTERLOTT TO ACQUIRE LOTTERY ENTERPRISES
Healthdyne Information Enterprises Obtains Option To Acquire Affiliate
RLD Enterprises, Inc. and Square-Knots Inc. Sign an Agreement and Plan of Exchange
America's Best Mix DJs Going on Tour.
netZentry's CleanTraffic(TM) Solution Offers Comprehensive Defense Against the Triple Threat of Targeted DDoS Attacks, Active Zombies and Rapid...

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters