SALT LAKE CITY, Aug. 23, 2010 (GLOBE NEWSWIRE) -- Sport Endurance, Inc. (OTCBB:SENZ), recently announced that it entered into a formal letter of intent to acquire S&T Distributors, a Company currently generating in excess of $2,000,000 in annual revenues, with NOI of approximately 30% from its primary business of distributing food and beverage products throughout the Southwest. The S&T revenues will up stream to Sport Endurance, and will be reflected in the annual revenues of the Company.
(http://www.sec.gov/Archives/edgar/data/1471727/000101968710003143/sportend_8k.htm)
The Board of Directors convened, and unanimously voted to declare a 3% stock dividend to all shareholders of record as of Thursday, August 26, 2010. All fractional shares will be rounded up to the next whole number of shares.
Robert Timothy, President of Sport Endurance, was quoted as saying, "Based on the revenues as well as the opportunities that will come as a result of the acquisition of S&T Distributors, we have decided that all of our shareholders of record should benefit by the acquisition in the form of a stock dividend as a way of rewarding them for the loyalty and confidence they have shown to the Company. This is our way of saying thank you for your trust and continued support.
"Our Transfer agent has been instructed to file the appropriate forms with DTC and FINRA as well as all regulatory agencies as required by statute, and to issue these dividend shares to all shareholders of record immediately.
"In addition to the distribution channels that we will acquire, we believe that we can increase the revenues of S&T by providing a product that is safe, convenient, and effective, in the multibillion dollar health supplement industry."
S&T currently distributes its products to over 1000 stores, throughout the Southwest, and will immediately begin to distribute the Sport Endurance line of Liquid Gel Caps.
Keith Stacks, President of S&T Distributors stated, "We believe that the Company will be a leader in the energy products and health supplement field. With our distribution channels, and Sport Endurance's Liquid Gel Cap line, we believe our decision is the right one to boost revenues for both companies and that the dividend being issued to all shareholders of record by Sport Endurance is just the first step in many exciting developements transpiring."
About Sport Endurance
Sport Endurance Liquid Gel Cap products including its 8 Hour Energy Liquid Gel Caps, Liquid Creatine Liquid Gel Caps, natural Sleep Aid Liquid Gel Caps, represent a revolution in dietary supplements. The Company is among the first in the exciting Liquid Gel Cap field.
Safe Harbor Disclaimer
This material includes forward-looking statements based on management's Current reasonable business expectations. In this document, the words "can," "anticipates," "believes" and similar expressions identify certain forward-looking statements. These statements are made in reliance on the Private Securities Litigation Reform Act, Section 27A of the Securities Act of 1933, as amended. There are numerous risks and uncertainties that could result in actual results differing materially from expected outcomes. The material should be read in conjunction with the Company's current annual and quarterly reports filed with the SEC, which contain discussions of currently known factors that could significantly impact the Company's future.