DEERFIELD BEACH, Fla., March 13, 2003 (PRIMEZONE) -- Trimfast Group, Inc. (Pink Sheets:TRFG) announced the signing of a letter of intent with privately owned Horizon Business Credit Inc. of Coral Springs, Florida.
Trimfast Group has been talking with different companies for months looking for the right candidate for a possible reverse merger. Michael Magno, CEO of Trimfast Group, noted: "This letter of intent is only the first step towards accomplishing common goals that are shared between the current board of Trimfast and the executive management of Horizon. Both management teams are excited about what can be accomplished by consummating a merger. David Langle (of Horizon) and I are both excited and motivated by this project and spare no time getting the tasks on hand completed."
As stated in the executive summary of Horizon Business Credit, "Horizon Business Credit will provide asset-based financing to small and medium sized business," in both the Southeastern Region of the United States and the New York metropolitan areas. The founders of Horizon are lending officers with more than thirty-five years of experience in commercial banking and loan portfolio management.
David Langle of Horizon said, "We consider it quite a coup landing a letter of intent with Trimfast Group. Michael Magno's track record of implementing and executing strategic planning will serve us very well. Horizon intends to finance receivable purchases and other asset backed programs through many sources and merging with Trimfast could possibly enable us to acquire many more clients and work with large financial institutions."
About Trimfast Group, Inc.
Trimfast is listed on the OTC pink sheets under the symbol TRFG. This is a non-reporting company. The corporate web site is http://www.trimholdings.com.
Statements in the news release about anticipated events or expected future revenue or growth or expressions of future goals or objectives, including statements regarding whether current plans to grow and strengthen the company's existing network will be implemented or accomplished, are forward-looking statements with the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements in this release are based upon information available to the Company on the date of this release. The letter of intent referred to in this release, except to the extent expressly provided, outlines the proposed transaction and is not intended to be a binding offer or agreement but, rather, in intended to set forth certain principal terms and conditions relating to the proposed transaction and to evidence the mutual intent to negotiate in good faith towards the execution of a definitive purchase agreement. Any forward looking statements involve risks and uncertainties, including the risk that the Company will be unable to grow or strengthen its network due to a lack of capital or an inability to identify acquisition candidates and other events that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements.
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