Greens Worldwide Incorporated Executes Memorandum of Agreement to Acquire Las Vegas Golf Schools
Greens Worldwide Incorporated (OTC BB: GRWW) announced today that it has executed a Memorandum of Agreement to acquire Las Vegas Golf Schools (LVGS) operating model, facilities agreements, management and staff and to contribute the assets into a new wholly owned subsidiary.
Hertford, NC, March 10, 2006 --(PR.com)-- Greens Worldwide Incorporated (OTC BB: GRWW) announced today that it has executed a Memorandum of Agreement to acquire Las Vegas Golf Schools (LVGS) operating model, facilities agreements, management and staff and to contribute the assets into a new wholly owned subsidiary. (www.gotogolfschool.com ). Effective May 1, 2006, the golf schools will be operated from the facilities at Las Vegas National Golf Club and Painted Desert Golf Club and the Las Vegas Golf Schools will initiate mobile training centers at each US Pro Golf Tour Event.
“The launch of the mobile training facilities , when fully implemented, will provide on site training and instructor assistance for the professionals of the US Pro Golf Tour, and may generate additional revenue opportunities when we open the schools to the public in the communities where the Tour conducts its events. When implemented, this will be the first time to my knowledge, that a golf school will travel to the location of the golfer who is seeking first class instruction and improvement in their game. We also plan to bundle golf school instruction and programs into our sponsorships, further adding value to our corporate sponsorship partners,” said Tom Kidd, Chief Executive Officer of Greens Worldwide Incorporated. “I am also very pleased that Scott Schneider has agreed to join our management team as President of Las Vegas Golf Schools. Scott has previously served as President of the Ken Venturi Golf Academy for many years and understands the business model.”
Scott Schneider added, “I am delighted to be joining the Greens Worldwide team. Their passion for golf and their vision for the future provide a superior platform to continue the tradition of excellence we will create with our schools. I look forward to helping all levels of players in the pursuit of better golf games.”
About Greens Worldwide Incorporated
Greens Worldwide Incorporated is a vertically integrated sports marketing company engaged in golf events and with companies involved in managing those events and is publicly traded under the stock symbol GRWW. In our continuing effort to develop a more cohesive and synergistic organization, we are structured in a way that allows all of our entities to utilize each other’s resources to the greatest extent possible. In addition, the Company’s strategic plan is to be able to deliver substantial value by providing multiple sports platforms and media to leverage our partners advertising and promotional dollars, while delivering the finest entertainment opportunities to retain and build customers. For our non-sports businesses, we will utilize the media and promotional benefits of our media platforms in Television, Radio, and Print, together with Internet Television and other like strategic relationships, to grow our consolidated revenues. The Company intends to acquire profitable sports organizations and sports related firms, together with other businesses that would benefit from the synergy the Company provides.
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates", "believes", "could", "expects", "intends", "may", "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
Contact
Tom Kidd
Chief Executive Officer
252.264.2064
###
“The launch of the mobile training facilities , when fully implemented, will provide on site training and instructor assistance for the professionals of the US Pro Golf Tour, and may generate additional revenue opportunities when we open the schools to the public in the communities where the Tour conducts its events. When implemented, this will be the first time to my knowledge, that a golf school will travel to the location of the golfer who is seeking first class instruction and improvement in their game. We also plan to bundle golf school instruction and programs into our sponsorships, further adding value to our corporate sponsorship partners,” said Tom Kidd, Chief Executive Officer of Greens Worldwide Incorporated. “I am also very pleased that Scott Schneider has agreed to join our management team as President of Las Vegas Golf Schools. Scott has previously served as President of the Ken Venturi Golf Academy for many years and understands the business model.”
Scott Schneider added, “I am delighted to be joining the Greens Worldwide team. Their passion for golf and their vision for the future provide a superior platform to continue the tradition of excellence we will create with our schools. I look forward to helping all levels of players in the pursuit of better golf games.”
About Greens Worldwide Incorporated
Greens Worldwide Incorporated is a vertically integrated sports marketing company engaged in golf events and with companies involved in managing those events and is publicly traded under the stock symbol GRWW. In our continuing effort to develop a more cohesive and synergistic organization, we are structured in a way that allows all of our entities to utilize each other’s resources to the greatest extent possible. In addition, the Company’s strategic plan is to be able to deliver substantial value by providing multiple sports platforms and media to leverage our partners advertising and promotional dollars, while delivering the finest entertainment opportunities to retain and build customers. For our non-sports businesses, we will utilize the media and promotional benefits of our media platforms in Television, Radio, and Print, together with Internet Television and other like strategic relationships, to grow our consolidated revenues. The Company intends to acquire profitable sports organizations and sports related firms, together with other businesses that would benefit from the synergy the Company provides.
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates", "believes", "could", "expects", "intends", "may", "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
Contact
Tom Kidd
Chief Executive Officer
252.264.2064
###
Contact
Greens Worldwide Incorporated
Vera L. Harrell
252-264-2064
www.usprogolftour.com
Vera L. Harrell
252-264-2064
www.usprogolftour.com
Contact
Categories