Rhino Outdoor International, Inc. (OTCBB:RHOI)
HENDERSON, Nev.–(BUSINESS WIRE)–Rhino Outdoor International, Inc. (OTCBB: RHOI – News), which operates outdoor activity based businesses is pleased to report that the company has reached a definitive agreement to purchase the World Extreme Rock Crawling Championships Series (W.E.ROCK). It is anticipated that W.E.ROCK will become a wholly owned subsidiary of the company through a stock exchange agreement and that the deal will close on, or near, September 1, 2007.
W.E.ROCK is a leader in organizing and sanctioning national and international competition for the fast growing motor sport of rock crawling. In 2007 W.E.ROCK sanctioned and produced nine rock crawling championship events throughout the US that all culminate in the Grand National Championships scheduled for September 14-16 in Houston, Texas. W.E.ROCK is the only recognized sanctioning body for international competition. In November of 2006 the inaugural World Championship Event was held in Henderson, Nevada featuring teams from around the world, including Canada, Mexico, South Africa, Australia and the US. The World Championships for this season are scheduled for January 24-27, 2008 in Sydney, Australia. For more information and an event schedule, visit www.WE-Rock.cc.
“Rhino Off-Road Industries has been a sponsor and supporter of W.E.ROCK for many years. We’ve been proud to support amateur involvement as W.E.ROCK has created spec classes such as Formula Toyota and the Rhino class,” stated Howard Pearl, CEO and President of ROI. “To bring W.E.ROCK into our family of outdoor oriented businesses is an exciting step for both our company and the sport of rock crawling. Rich Klein, and his team at W.E.ROCK, has done a fantastic job of building an internationally recognized competition series that has led the way in this exciting segment of off-road racing.” Both companies cater to the fast growing off-road market where enthusiasts are searching for newer, safer ways to enjoy outdoor activities. The W.E.Rock series provides an ideal venue to display the unique, capabilities of the Rhino Off-Road RTV.
W.E.Rock is the sanctioning body and promoter of the World Extreme Championship Series. Coming into only its third year of existence, the Grand Nationals have become the top event in the sport of rock crawling. “Rock crawling is drawing more spectators, and participants with every event – the sport is to go big time and so is W.E.ROCK!”, stated Rich Klein, President of W.E.ROCK, “We are looking forward to being a part of the ROI family and anxious to be able to implement many of the events and promotional opportunities that lie ahead, once the transaction has been completed. ROI brings added resources and expertise to W.E.ROCK that will allow us to move to that next level – both in North America, and to the emerging international marketplace of off-road racing.”
Cautionary Statement for the Purpose of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995: Forward-looking statements in this news release are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Certain important factors could cause results to differ materially from those anticipated by the forward-looking statements, including the impact of changed economic or business conditions, the impact of competition, the success of existing and new product releases, the management of our growth, other risk factors inherent in the outdoor recreation, internet, and media industries and other factors discussed from time to time in reports filed by the company with the Securities and Exchange Commission.
Contact:
Redwood Consultants, LLC
Jens Dalsgaard, 415-884-0348
InvestorInfo@RedwoodConsultants.com
or
Taylor Capitol, Inc.
Stephen Taylor, 973-351-3868
Stephtayl9@aol.com
or
W.E.ROCK
Rich Klein, 530-417-5333
bigrich@WE-Rock.cc
Source: Rhino Outdoor International, Inc.
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