Tri-Star International Limited Inc. Announces 2 Strategic Acquisitions
14 December 1998
Tri-Star International Limited Inc. Announces 2 Strategic AcquisitionsHOUSTON, Dec. 11 -- James Morgan, President and CEO of Tri-Star International Limited Incorporated (OTC Bulletin Board: TSNL), announced today, in two separate transactions, the acquisition by Tri-Star of a 50% interest in both San Miguel Mining Corporation and Hard Power Incorporated. San Miguel Mining Corporation's President James Young, in an all stock transaction, agreed to the acquisition by Tri-Star of a 50% interest in San Miguel. San Miguel, a British Virgin Islands corporation with corporate offices in New York City, is set up for the purpose of acquiring and developing mining properties in Central and South America in joint venture with various state owned companies in China. San Miguel, as its initial venture, has entered into a letter of intent agreement to acquire a 50% interest in Cia Minera Metalurgica San Miguel, S.A. de C.V., a Silver Mining company with substantial mineral holdings in Zimapan, Hidalgo, Mexico. Hard Power Inc.'s President and founder Raimondo Castrogiavonni, born and raised in Italy with over 40 years experience in the automotive industry, in an all stock transaction, agreed to the acquisition by Tri-Star of a 50% interest in Hard Power. Hard Power, a Nevada corporation with corporate offices in Las Vegas, has established networks throughout Italy for the distribution of automotive products. Hard Power provides and supplies numerous lines of automotive products, such as Winston Tires, from a variety of well-known manufacturers. Hard Power also provides a line of battery products, bearing the Hard Power name. Through the building and marketing of strategic networks Hard Power has positioned itself to benefit greatly in the multi-billion dollar Italian automotive market. James Young, President of San Miguel and Raimondo Castrogiovanni, President of Hard Power as well as John Headen, a marketing consultant, will be joining James Morgan as members of Tri-Star's Board of Directors. Mr. Young and Mr. Castrogiovanni bring to Tri-Star their international business experiences and relationships and the business acumen necessary to insure San Miguel, Hard Power and Tri-Star continued and successful growth while Mr. Headen's marketing experience will serve Tri-Star in good stead. It is the intent of Tri-Star to continue to seek strategic acquisitions. For further information please contact Tri-Star's public relations department at 713-993-0017 extension 109. Safe Harbor Disclaimer: This release may contain forward looking statements, that involve risk and uncertainties, including without limitation, continued acceptance on the company's products and services, increased levels of competition, new products and technological changes, the company's dependency on financing third party suppliers and intellectual property rights, and other risks detailed from time to time in the company's federal filings, annual reports, offering memorandums, or prospectus.