NewsBusiness And Sports Editors:
Carbite Golf Acquires Carizma Golf Assets
SAN DIEGO, June 22 /CNW/ -- Carbite Golf (CDNX: CAB) today
announced that it has completed an Asset Purchase Agreement with Carizma Golf,
San Diego, and has acquired substantially all the assets of Carizma, including
its products and intellectual property in exchange for Carbite Golf common
stock.
Carizma was founded in 1998 by longtime golf innovator Jim Flood and
features three lines of products. These are:
-- Putterball: The hottest training aid on the PGA Tour! Seen in use by
several players at the 2000 U.S. Open in Pebble Beach. This is a
practice putter with a spherical shape designed so that improper
contact with the golf ball will result in a missed putt. It teaches
golfers how to putt with a smooth rhythmic stroke.
-- Power Ti-Pod: The unique 45-degree face balance of this driver makes
it almost impossible to slice the golf ball. The virtually
indestructible titanium head is 80 percent larger than other oversized
drivers on the market.
-- Tungstar Series Putters: These value putters allow the golfer to know
exactly when the face of the putter is square to the ball and have a
larger hitting surface than the average putter.
"We are pleased by this acquisition and believe that Carizma's products,
Internet presence and infomercial strategies will be an excellent fit with the
products marketed by Carbite Golf," said Michael Spacciapolli, Carbite Vice
Chairman.
Carbite Golf is a San Diego based manufacturer of innovative golf
equipment. Patented powder metallurgy technology permits golf club designs
with a bigger sweet spot and better results from off-center hits. Current
products include the "Polar Balanced Putter" and the "Polar Balanced Wedge."
For product information, contact Mike Pinckes at Carbite Golf, 9985 Huennekens
St., San Diego, CA., 92121, telephone 1-800-272-4325 or fax 858-625-0572.
VISIT CARBITE GOLF'S WEBSITE at www.carbitegolf.com
(This news release has not been reviewed by the Canadian Venture Exchange,
which does not accept responsibility for the adequacy or accuracy of the
release.)