FARMINGTON HILLS, Mich., July 25, 2008 (PRIME NEWSWIRE) -- LBO Capital Corp. (Pink Sheets:LBOA), a Colorado corporation ("LBO Capital"), announced today that it signed a non-binding Letter of Intent on July 11, 2008 with Load Hog Industries, Inc., a Pennsylvania corporation ("Load Hog"), regarding acquisition of the assets of Load Hog. Chairman and CEO Thomas W. Itin remarked: "This planned acquisition advances our corporate strategic goal to develop or acquire technologies that can be brought to market in a reasonably short time."
Load Hog Industries, Inc., a private corporation founded in 1997, manufactures and markets its patented "Lift Kit" technology for aftermarket conversions of pickup trucks to fully functional dump trucks for end users in target market segments: municipalities and government sales, vocational buyers (construction and landscape), and "lifestyle" buyers. With a growing network of dealers supplemented by its e-commerce initiative, www.loadhog.com, the Load Hog name and concept are increasingly visible in the light truck market.
LBO Capital and Load Hog are conducting due diligence required for preparation of a binding Definitive Agreement anticipated for conclusion by July 31, 2008.
Corporate Profile
LBO Capital Corp., founded in 1988, strives to acquire technology and intellectual property and seeks to identify operating companies which could benefit through licensing. www.lboc.us
The statements included in this news release concerning predictions of economic performance and management's plans and objectives constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1934, as amended. These statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, factors detailed in the Company's Securities and Exchange Commission filings, economic downturns affecting the operations of the Company or any of its business operations, adequate financing to achieve the new strategic plans, the impact of competition, the success of products in the marketplace and the unavailability of financing to complete management's overall plans and objectives. The forward-looking statements contained in this news release speak only as of the date hereof and the Company disclaims any intent or obligation to update these forward-looking statements, except as required by law.