Sherbrook SBK Sport Corp. has signed a letter of intent to acquire Global Sports Technologies Corporation and its patented sports technologies, including the Trilage hockey stick.
According to the letter of intent, SBK will acquire Global Sports Technology and its intellectual properties including but not limited to the Trilage hockey stick. SBK will issue a total of 8,050,000 shares, whereby 4,025,000 will be issued at closing and 4,025,000 will be issued and or transferred upon meeting certain conditions, such as a minimum of $1 million in revenue and $500,000 participation in the Private Placement. The companies expect to enter into a definitive agreement on or before June 30, 2011 and close the transaction within 90 days.
“The stick technology made popular by former NHL left winger, Darcy Tucker is unique, extremely performing and it is approved for the NHL” said Georges Guilbault, President of Sherbrook SBK Sport Corp. “We are gaining a superior product to add to our existing offering and a great new executive and we are glad that Mr. Mario Boscarino will be joining us” further added Guilbault.
“We are glad to be working with SBK on this transaction, our stick technology coupled with their sales and marketing reach is a great fit” said Mario Boscarino, president of Global Sports Technologies Corp. “The NHL acceptance will also help enhance the SBK/ Trilage brand in North American.”
Sherbrook SBK Sport Corp. is a Canadian publicly traded company specializing in the design, manufacturing and distribution of sporting goods and apparels. The company’s current main focus is on the design, manufacturing and distribution of Hockey equipment including a variety of sticks, skates and protective gear for both players and goalie.