SOURCE: Graystone Park Enterprises, Inc.

May 09, 2005 16:14 ET

Graystone Park Enterprises, Inc. Finalizes Agreement to Acquire Fishox Systems, Inc.

NEW YORK, NY -- (MARKET WIRE) -- May 9, 2005 -- Graystone Park Enterprises Inc. (OTC: GPKE) announced today that it has signed an agreement with Fishox Systems, Inc., www.fishox.com, to acquire it as a wholly owned subsidiary. Fishox, currently manufacturing and shipping product, is a pioneer in the development and marketing of low cost oxygen concentrators for the recreational fishing industry. The Fishox unit has been featured in Bass Pro Shops, Saltwater Sportsman Magazine, Landbigfish.com, Boaterscatalog.com and the Probass.com as the safe, low cost alternative to other oxygenation units. Having secured its first contract to manufacture 3,500 portable oxygen units ($1,225,000 in revenue) from T-H Marine, a major distributor of boat accessories, the company recently increased its manufacturing facilities to meet the demand. "We are very excited to be part of the growing Graystone family," states Chesley Ellis, President of Fishox. He further states, "With Graystone's business expertise, we intend on growing Fishox to be the world leader in oxygen distribution."

New markets are opening for Fishox, and the company is exploring new designs for the billion-dollar alternative health market.

GPKE has a number of other companies in its acquisition pipeline and recently announced its intent to spin off Gray Publishing & Media, Inc. shortly. Additionally GPKE recently announced it signed a Letter of Intent to purchase National School Safety, Inc.

About Graystone Park Enterprises, Inc.

Graystone Park Enterprises, Inc. was founded to assist the small business entrepreneur in growing his company and reducing the pitfalls that normally stall a start-up company. Graystone plans on acquiring middle stage companies in need of assistance to dramatically increase its market share. Graystone projects to acquire 5-10 companies in 2005, and an additional 8-12 companies in 2006. Graystone will maintain a substantial percentage of each subsidiary company after the subsidiary begins trading under its own symbol. Graystone expects its revenues, and the value of its equity positions to be in the double digit millions by the end of this year. With Graystone's projected aggressive growth in revenues and asset ownership, it is expecting to be AMEX qualified in 2006. GPKE has the knowledge and expertise to take many growth companies to the next level. In doing so it is able to capitalize on various markets to maximize return on its investment. The GPKE dividend distribution plan puts an emphasis on bolstering shareholder value.

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the company. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by Graystone Park Enterprises, Inc. and may differ materially from these statements due to a number of factors. Graystone Park Enterprises, Inc. assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making any investment decisions.

Contact Information

  • Contact:
    Shane Jones
    Director
    Graystone Park Enterprises, Inc.
    561-249-4140 x 103