SkateSurfSnow.com Sold To NewBridge Capital NEWPORT BEACH, Calif.–NewBridge Capital Inc. (OTCBB: NBRG) (“NewBridge”) Tuesday announced that it has signed a letter of intent to acquire the assets of SkateSurfSnow.com from PacificTradingPost.com Inc. (OTC Pink Sheets: PRTD).
NewBridge will issue common stock and warrants for the assets of SkateSurfSnow.com. The transaction is expected to close before Sept. 30, 2000. SkateSurfSnow.com operates an e-commerce Web site and retail store in Huntington Beach, Calif., serving the fast growing skateboard, surfing and snowboarding markets. SkateSurfSnow.com sells core action sports products, the latest hard and soft goods, apparel and accessories.
The acquisition of SkateSurfSnow.com provides NewBridge with a platform company to consolidate the action sports product market serving the affluent demographics and passion of the skateboard, surfing and snowboarding markets.
NewBridge’s plan of operation includes identifying operating companies and real property for acquisition. This business plan focuses on making acquisitions of or investments in what management considers businesses that present the greatest opportunities for growth and increased shareholder value. NewBridge will seek to expand these businesses and provide financial and management services to such businesses.