The Southshore Corporation to Acquire RV Holiday.com, Inc.
22 December 1999
The Southshore Corporation and RV Holiday.com, Inc. Jointly Announce Agreement for RV Holiday.com, Inc. to be Acquired
DENVER--Dec. 21, 1999-- The Southshore Corporation (OTCBB: SHSO), a fully reporting company, and RV Holiday.com, Inc. jointly announced today that they have reached an agreement for the acquisition of RV Holiday.com, Inc. in exchange for 5.5 million shares of Southshore common stock.RV Holiday.com, Inc. is a Colorado Springs, Colorado-based company engaged in the development of an Internet portal site for RV enthusiasts as well as in acquiring RV dealerships nationwide.
"We think the value that RV Holiday.com brings to Southshore is an opportunity to participate in a proposed Internet business," said Ken Dalton, president of Southshore.
"RV Holiday.com was formed to energize an industry that has not kept pace with how the Internet has revolutionized the way companies transact business," said John Deufel, President of RV Holiday.com, Inc. "Merging with Southshore provides a mechanism for us to raise additional funds to further implement our market strategy. The RVIA (Recreation Vehicle Industry Association) has identified the market as consisting of approximately 9 million Americans (one in ten households) who own recreational vehicles and 30 million Americans considering themselves RV enthusiasts."
Subject to certain financial and due diligence contingencies, the acquisition is expected to close prior to the end of January 2000. Pursuant to the Agreement, management of Southshore will change.
Southshore formerly owned and operated a water park in southeast Metro Denver. This release should be read in conjunction with Southshore's public filings.