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BAU Blue Star Gold Corp

0.125
-0.005 (-3.85%)
15 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Blue Star Gold Corp TSXV:BAU TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.005 -3.85% 0.125 0.125 0.135 0.13 0.125 0.13 189,550 20:44:34

Bauer Performance Sports to Acquire Assets of Combat Sports

11/04/2013 12:30pm

Marketwired Canada


Bauer Performance Sports Ltd. (TSX:BAU) ("Bauer") today announced it has entered
into a definitive agreement to acquire substantially all of the assets of Combat
Sports ("Combat"), a leading designer of composite baseball and softball bats,
hockey sticks and lacrosse shafts. The acquisition will provide Bauer with
advanced composite technologies and strong intellectual property to further
strengthen its industry-leading research and development capabilities across its
platform of high-performing sports equipment. 


"Combat Sports has a history of success in delivering innovative composite
technologies to the sporting goods industry, and we are excited to add their
knowledge and expertise to Bauer Performance Sports," said Kevin Davis,
President and Chief Executive Officer of Bauer. "In addition to their experience
in the ever-evolving composites industry, Combat has had significant success
with certain baseball and softball products, and we look forward to building
their brand and expanding their portfolio of products in the future." 


Bauer plans to explore and combine relevant composite technologies where
applicable to strengthen its overall hockey stick and lacrosse offerings under
the BAUER and MAVERIK brands. Combat and several of the company's key employees
have had a long history of expertise in composite materials, including
developing innovative products for NASA, the U.S. Military and several leading
manufacturers. By focusing resources in the areas of Combat's success -
baseball, softball and advanced composite technologies - Bauer expects to
strengthen the COMBAT brand and grow its overall portfolio of high-performing
products. 


The acquisition of Combat will be funded from cash on hand and is expected to be
accretive in the first year of operation. Bauer anticipates the acquisition to
close in the coming weeks, subject to satisfaction of customary closing
conditions and certain other approvals. 


"Our expectation is that Canadian-based Combat will remain in its current
Ottawa, Ontario and Kent, Washington locations, and we intend to continue
manufacturing in Canada," Davis said. "In addition, we fully expect that
Combat's previous leadership team and many key employees will be employed by the
company after the closing of the transaction." 


ABOUT BAUER PERFORMANCE SPORTS LTD. 

Bauer Performance Sports Ltd. (TSX:BAU) is a leading developer and manufacturer
of ice hockey, roller hockey and lacrosse equipment as well as related apparel.
The company has the most recognized and strongest brand in the ice hockey
equipment industry, and holds the top market share position in both ice and
roller hockey. Its products are marketed under the BAUER, MISSION, MAVERIK,
CASCADE and INARIA brand names and are distributed by sales representatives and
independent distributors throughout the world. Bauer Performance Sports is
focused on building its leadership position and growing market share in all
product categories through continued innovation at every level. For more
information, visit www.bauerperformancesports.com.


ABOUT COMBAT SPORTS 

Combat Sports has been supplying composite and hybrid composite products for
both its own brand as well as for high-end brand name companies since 1998 in
the baseball/softball bat, hockey stick and lacrosse shaft markets. Combat has a
reputation for its premier and innovative composite technology with the latest
composite advancements in performance and durability serving players from the
grassroots level to the elite professional levels.


Caution Concerning Forward-Looking Statements

Certain statements in this press release about our current and future plans,
expectations and intentions, results, levels of activity, performance, goals or
achievements or any other future events or developments constitute
forward-looking statements. The words "will", "expects", "plans", "intends",
"estimates" or "potential" or the negative or other variations of these words or
other comparable words or phrases, are intended to identify forward-looking
statements. Forward-looking statements are based on estimates and assumptions
made by us in light of our experience and perception of historical trends,
current conditions and expected future developments, as well as other factors
that we believe are appropriate and reasonable in the circumstances, but there
can be no assurance that such estimates and assumptions will prove to be
correct. Many factors could cause our actual results, level of activity,
performance, achievements, future events or developments to differ materially
from those expressed or implied by the forward-looking statements, including,
without limitation, the following factors: our inability to satisfy the
conditions of closing to successfully complete the Combat Sports acquisition,
our inability to successfully integrate Combat Sports and its technologies into
the Company's other product offerings and grow the COMBAT brand, intense
competition in the apparel and equipment industries, volatile market price for
Common Shares, general economic and market conditions and current adverse
economic conditions. These factors are not intended to represent a complete list
of the factors that could affect us; however, these factors should be considered
carefully. The purpose of the forward-looking statements is to provide the
reader with a description of management's expectations and may not be
appropriate for other purposes; readers should not place undue reliance on
forward-looking statements made herein. Furthermore, unless otherwise stated,
the forward-looking statements contained in this press release are made as of
the date hereof, and we have no intention and undertake no obligation to update
or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by law. The
forward-looking statements contained in this press release are expressly
qualified by this cautionary statement.


FOR FURTHER INFORMATION PLEASE CONTACT: 
INVESTOR INQUIRIES
Bauer Performance Sports Ltd.
Amir Rosenthal
Chief Financial Officer
603-610-5802
investors@bauerperformancesports.com


MEDIA INQUIRIES
Bauer Performance Sports Ltd.
Tory Mazzola
Global Communications Manager
603-430-2111 x 5908
media@bauerperformancesports.com


Spinnaker Capital Markets Inc.
Kevin O'Connor / Ali Mahdavi
416-962-3300
ko@spinnakercmi.com

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