Freedom Entertainment International Inc. Signs Letter of Intent to Purchase Controlling Stock in Patriot Motorcycle, a Division of Patriot Motorcycle Corporation
Freedom expects to increase their sales of motorcycles and parts by at least $3,000,000 this next year
ORLANDO, Fla., Aug. 7 -- G. Michael Shannon, CEO and Chairman of Patriot Motorcycle Corp. (OTC Pink Sheets: PMCY) and Pino DiFeo the president of Freedom Enterprises jointly announces that Freedom Enterprises, a Canadian subsidiary of Freedom Entertainment International, Inc. and partly owned by eMax Corporation (OTC Pink Sheets: EMAX) signed a letter of intent to purchase seventy five percent of Patriot Motorcycle division of Patriot Motorcycle Corporation.
Mr. Shannon stated, "PMCY is extremely pleased to announce the signing of a letter of intent for a partial sale of the PMCY motorcycle division to Freedom Entertainment International, Inc., partly owned by eMax. Under terms of this agreement, Freedom Entertainment International, Inc. would obtain a 75% position in the rights to the established Patriot name & Marketing Rights. PMCY would maintain a 25% stake and would support the operation through its industry expertise and with advertising on its Steel Dreams TV division. This blending of resources and talents of two dynamic growth oriented entertainment based companies can only yield synergistic effects in the future."
Pino DiFeo, President of Freedom Enterprises stated, "I am very excited about our future of Freedom Entertainment International and with the addition of our newest partners, Patriot Motorcycle Corp. I have been working for many years with our affiliate staff and myself to secure our great partner relationships and a qualified team. I now believe we are ready for market saturation! We are now poised to achieve great success for years to come."
About Freedom Entertainment International, Inc:
Attends and promotes outdoor sporting and special events. The company profits from the rental of vendor spaces, admission receipts, sales of motorcycles and motorcycle related accessories, food and beverage, and merchandise sales. The founders of Freedom have been successful over the past 14 years selling motorcycles, accessories, novelty T-shirts, and other related products.
Freedom Enterprises, a new division of Freedom Entertainment International, Inc., was formed in Montreal, Canada for the purpose of exporting motorcycles, motorcycle parts, apparel, music, videos, and other products into the US from Canada. Freedom Entertainment this year also formed alliance with apparel manufacturer, Montreal Mode Design, of Montreal, Canada, to present several new designs of T-shirts and apparel to the public under the label "Freedom Made in America". This week Freedom Enterprises opened their new offices in Canada. Freedom Entertainment plans to import T-shirts and other apparel such as sportswear, jeans and teen clothes into the US next year. Freedom Entertainment plans to generate at least $500,000 in new wholesale apparel business. With the Patriot Motorcycle division acquisition, Freedom expects to increase their sales of motorcycles and parts by at least $3,000,000 this next year.
About Patriot Motorcycle Corporation:
Patriot is a California Corporation that became a reporting company in May 2002. In addition to its motorcycle division, Patriot recently acquired Steel Dreams TV and Steel Dreams Event Corporation. Steel Dreams TV, entering its third year of syndication, is the premier celebrity driven sports program with exposure to over 90 million households weekly. Steel Dreams Event Corporation participates in and produces large motorcycle rallies including the Sam's Town Motorcycle Festival in Tunica, MS.