SOURCE: Redux Holdings, Inc.

August 01, 2006 08:05 ET

Redux Holdings to Acquire Control of GolfGear International, Inc.

LOS ANGELES, CA -- (MARKET WIRE) -- August 1, 2006 -- Redux Holdings, Inc. (PINKSHEETS: RDXH) announced today that is has signed a Letter of Intent to acquire 51% of the voting capital stock of GolfGear International, Inc.

GolfGear is a golf club manufacturing firm noted for its proprietary forged-face insert technology, and offers a full line of proprietary golf clubs. Its product line includes the Tsunami driver, fairway woods and irons; Leading Edge® Championship Putters, Diva woods and irons for women; and Players® clubs for junior golfers.

In 2003, GolfGear granted Nike Golf a non-exclusive, long-term, worldwide license to manufacture and sell golf clubs under GolfGear's patents covering its proprietary forged-faced insert technology.

Adam Michelin, Redux Holdings' Chairman and CEO, commented on the acquisition, "I am pleased to announce the acquisition of GolfGear. Our goal is to leverage GolfGear's patented technology to increase market share and grow worldwide distribution."

GolfGear's patent portfolio, with respect to insert technology, is the largest and most comprehensive in the golf industry, with seven domestic and two foreign patents issued related to forged-faced insert technology, with additional patents pending.

Redux Holdings acquires assets of underperforming and distressed companies on a non-cash basis and isolates, recombines and manages those assets to increase their value and to develop profitable strategic options. The Company is distinguished by the extensive experience of its personnel in quickly identifying, analyzing and stabilizing these businesses opportunities and effecting rapid turnaround and asset monetization.

For additional information on Redux Holdings, Inc., visit the company's website at Investor information, including an investor fact sheet, is available for download at


This press release contains forward-looking statements within the definition of Section 27A of the Securities Act of 1933, as amended and such section 21E of the Securities Act of 1934, amended. These forward-looking statements should not be used to make an investment decision. The words 'estimate,' 'possible' and 'seeking' and similar expressions identify forward-looking statements, which speak only as to the date the statement was made. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted, or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.

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