Rhino Outdoor International, Inc. (OTCBB: RHOI), which operates outdoor activity based businesses is pleased to report that the company has reached a definitive agreement to purchase the World Extreme Rock Crawling Championships Series (W.E.ROCK). It is anticipated that W.E.ROCK will become a wholly owned subsidiary of the company through a stock exchange agreement and that the deal will close on, or near, September 1, 2007.
W.E.ROCK is a leader in organizing and sanctioning national and international competition for the fast growing motor sport of rock crawling. In 2007 W.E.ROCK sanctioned and produced nine rock crawling championship events throughout the
“Rhino Off-Road Industries has been a sponsor and supporter of W.E.ROCK for many years. We’ve been proud to support amateur involvement as W.E.ROCK has created spec classes such as Formula Toyota and the Rhino class,” stated Howard Pearl, CEO and President of ROI. “To bring W.E.ROCK into our family of outdoor oriented businesses is an exciting step for both our company and the sport of rock crawling. Rich Klein, and his team at W.E.ROCK, has done a fantastic job of building an internationally recognized competition series that has led the way in this exciting segment of off-road racing.” Both companies cater to the fast growing off-road market where enthusiasts are searching for newer, safer ways to enjoy outdoor activities. The W.E.Rock series provides an ideal venue to display the unique, capabilities of the Rhino Off-Road RTV.
W.E.Rock is the sanctioning body and promoter of the World Extreme Championship Series. Coming into only its third year of existence, the Grand Nationals have become the top event in the sport of rock crawling. “Rock crawling is drawing more spectators, and participants with every event – the sport is to go big time and so is W.E.ROCK!”, stated Rich Klein, President of W.E.ROCK, “We are looking forward to being a part of the ROI family and anxious to be able to implement many of the events and promotional opportunities that lie ahead, once the transaction has been completed. ROI brings added resources and expertise to W.E.ROCK that will allow us to move to that next level – both in
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