SOURCE: Pine Ridge Holdings, Inc

May 06, 2008 10:05 ET

Pine Ridge Holdings, Inc Announces Disclosure to Be Submitted for Pink Sheets Upgrade

FORT WAYNE, IN--(Marketwire - May 6, 2008) - Pine Ridge Holdings, Inc (PINKSHEETS: PINR) CEO Kevin May announced today that the company anticipates submitting the proper disclosure to to remove caveat emptor designation by weeks end.

Pine Ridge specializes in the development and management of real estate projects. Pine Ridge currently manages Pine Ridge Racquet Club and owns Pine Ridge Fitness Club located in Fort Wayne, Indiana, a seven court, full service indoor tennis facility and Pine Ridge Fitness Club is a 12,000 square foot, premier fitness facility currently employing 35 people. In addition, the Company manages the tennis operations for Pine Valley Country Club, Fort Wayne, Indiana and a four court, indoor tennis facility in Warsaw, Indiana.

As a means to diversify, the company is also developing a technology arm that focuses on the identification and acquisition of small to medium sized high-tech testing facilities and other related technology companies.

May commented, "I am pleased to announce that I anticipate that within a few days the caveat emptor designation on the company's website will be replaced with a much higher level designation. It is a priority to build shareholder value and I believe being open and transparent is one of the first steps. I look forward to updating investors of the various opportunities as they continue to unfold."

"Health and Fitness is a 14.1 billion dollar industry, serving nearly 40 million members in the USA but it is highly fragmented with only a handful of companies having a national presence and the majority is regional or local. With the baby boomer generation reaching full retirement the opportunities and needs are great. This generation has moved our economy through each stage of their lives and retirement with good health is one of the next phases for the baby boomers," related May.

May continued, "I further believe that technology will continue to be a strong force in the United States, therefore I have plans to implement a roll up strategy for small to medium size high tech testing facilities. I will reveal more about this segment of the company as things continue to develop."

"With this in mind, I also would like to announce that I have retained the services of Brian Kistler, New Opportunity Business Solutions as the company's corporate financial advisor and corporate communications. Brian's experience and knowledge of the markets and financial structures will add great value to the company as we continue to further our plans," stated May.

This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessary estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete the acquisition, the Company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in the Company's public announcements.

Contact Information

    Pine Ridge Holdings, Inc
    Kevin May

    Brian Kistler