Global Golf Holdings to Acquire Healthy Lifestyles BusinessesGlobal Golf Holdings to Acquire Healthy Lifestyles Businesses
December 6, 2004
Global Golf Holdings to Acquire Healthy Lifestyles Businesses
VANCOUVER, British Columbia
GlobalGolf Holdings Inc. (NASDAQ:GGLF) announced it expects to acquire the assets ofthree businesses: Low-Carb Centre Inc., Low Carb Bakery Inc. and McNabb andAssociates Inc.
The three businesses sell and distribute low carbohydratefoods and provide other products and services related to healthy lifestyles.Sales are generated via the Internet and through retail stores located inCanada, including three corporate stores and one franchise store.
Under the terms of the agreement, at closing and subsequent toa reverse split of the GGLF common stock, GGLF will acquire all of the assets ofthe three businesses and assume up to USD$425,000 in outstanding convertiblenotes in exchange for 14,743,199 shares of GGLF common stock.
Tammy-Lynn McNabb, president and founder of Low-Carb Centre,said, Since commencing operations in July of 2003, our management team hasworked diligently to get our business and our healthy lifestyles concept to thepoint where were ready to attract capital from the public equities market.Weare excited about our business model, as well as the tremendous potential of thespecialty foods and healthy lifestyles consulting business in general. Followingthis transaction, it is our goal to expand and make our products and servicesavailable to a wider range of consumers throughout the United States and Canada.
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