To learn more about the efforts of Farm Bridge, the IRTN
or Paul McKellips, go to: www.
Patrick McLaren, current Chairman of the Board of IRTN will remain as President/Ceo of Perma Grass and will resign as Board Chairman of IRTN, but remain as a Director.
McLaren further advised the IRTN Board of Directors that The Perma Grass Corporation will file a Form 10 with the SEC and will also make application to the Bulletin Board - OTC - Stock Exchange to list its shares for trading after the Distribution to IRTN shareholders on January 10, 2001.
McLaren further described to the IRTN Board of Directors the end results of the Transaction after all distributions have been completed as follows:
Joe Caravella, President of Ed-Car Construction Company, a wholly-owned subsidiary of IRTN
, supervised and installed the entire construction from start to finish.
On October 25,1999 IRTN received a Tender Offer of $2.
In the event this tender offer is rejected on November 19,1999 at the Shareholders Meeting to be held at the Holiday Inn in Hasbrouck Heights, NJ at 10 AM, the investment group has indicated that it would consider the acceptance of 21 million investment shares from the IRTN treasury in exchange for the concentrates and production program as stated above, which would then be conducted as a part of IRTN.
Joseph Caravella, President of Ed-Car Construction, remains as Director and will continue to Bid on all Jobs and perform the site work and completion of all IRTN projects.
IRTN shall continue to pursue the "Exclusive" Rights to the Lombardi Turf Athletic Fields on a National and International Basis, as well as its Day-Care and Playground Surfacing and its Artificial Lawn and Landscaping Sales and Marketing Campaigns.
Lombardi said that IRTN
will be offering a combination football and soccer field, up to 90,000 square feet, at less than cost of a single field, with up to 10 years of financing available, to more than 35,000 High Schools and Colleges through out the country.
Patrick McLaren stated that PERMA GRASS is a product of the future, which combines the finest safety and durability features in the athletic surfaces industry, Lombardi's experience and reputation will prove invaluable to the growth and expansion of IRTN.
Having a regional office in Florida will give us a firm foothold in the dramatically expanding markets in all of the southeast", stated Patrick McLaren, President of IRTN.