Freedom Golf Corp. Executes Letter of Intent to Merge with Trinity Golf

SOURCE: Business Wire

TUSTIN, CA - In a joint announcement by the principals, Freedom Golf Corp. (OTCBB: FGLC) has entered into a letter of intent to merge with privately held Trinity Golf Inc., a golf manufacturer based in Tustin.

Greg DeBenon, Trinity's CEO, said the proposed merger is subject to various conditions including continued due diligence by both parties, execution of a definitive agreement and obtaining shareholder approval.

John Johnson, CEO of Freedom Golf, explained that when the merger is complete, the Trinity shareholders will be issued shares of Freedom's common stock, equal to an 85-percent interest and the company's name will be changed to "Trinity Golf Holding Corp."

The proposed merger is expected to provide synergy between Trinity's Stiletto II Beta Ti driver and Freedom's existing line of proprietary golf clubs, including its Freedom 345 (a 3, 4 and 5 fairway wood combined into one club). The clubs will be marketed by utilizing Trinity's demonstrated expertise in the use of infomercials on television.

Upon closing of the merger, DeBenon will be CEO of the surviving company and Johnson will serve in the capacity of executive vice president and a director.

Johnson stated, "Trinity has demonstrated an ability to generate substantial revenues through the use of infomercials to market its golf clubs while maintaining excellent customer service and high quality products." DeBenon added that the proposed merger "is a natural continuation of our marketing program. We are very excited about our potential alliance with Freedom."

It is anticipated that the proposed merger will be consummated within the next 60 days.