Equus Total Return, Inc. Announces Investment in Sports and Leisure Sector
June 29 2007 - 6:07PM
PR Newswire (US)
HOUSTON, June 29 /PRNewswire-FirstCall/ -- Equus Total Return, Inc.
(NYSE:EQS) ("Equus" or the "Fund") has provided $6.0 million in
debt financing to Nickent Golf, Inc. ("Nickent") in connection with
an overall transaction involving a previous bridge financing of
$2.0 million in April 2007. Nickent will use the proceeds for
working capital, strategic marketing and global expansion. "Our
hybrid, the club that made us famous, was in the bag of the US Open
winner last weekend," commented Michael Lee, CEO and President of
Nickent. "This is a very exciting time for Nickent Golf. All of our
products are being played on the PGA Tours. We have more than
tripled our distribution in recent years and have made significant
strides in becoming a major player in the golf industry. We believe
Nickent's new relationship with Equus will surely help us get to
the top." Anthony R. Moore, Chairman, CEO and President of Equus,
will be joining the Nickent Board of Directors as Chairman. Mr.
Moore stated, "Investments in sports and leisure are representative
of our twenty-first century trends investment strategy and Nickent
is an exciting opportunity in this sector. Golf has a huge and
growing following around the world and Nickent is producing high
quality products that players of all standards are seeking. We are
delighted to participate in taking Nickent to a new stage in the
company's development." Nickent is a market leader in the rapidly
expanding, hybrid club segment of the golf industry and is an
emerging leader in game-enhancement technology. Nickent's
development process is driven by its dedication to advanced
technologies and focus on design innovation. Nickent is the
official OEM sponsor of the Golf Channel's Nationwide Tour
coverage. Additional information on Nickent Golf, Inc. may be
obtained at the Nickent website at http://www.nickentgolf.com/.
Equus Total Return, Inc. is a business development company that
trades as a closed-end fund on the New York Stock Exchange, under
the symbol "EQS". Additional information on Equus Total Return,
Inc. may be obtained from the Equus website at
http://www.equuscap.com/. This press release may contain certain
forward-looking statements regarding future circumstances. These
forward-looking statements are based upon the Company's current
expectations and assumptions and are subject to various risks and
uncertainties that could cause actual results to differ materially
from those contemplated in such forward-looking statements
including, in particular, the risks and uncertainties described in
the Company's filings with the Securities and Exchange Commission.
Actual results, events, and performance may differ. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as to the date hereof. The Company
undertakes no obligation to release publicly any revisions to these
forward-looking statements that may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events. The inclusion of any statement in this
release does not constitute an admission by the Company or any
other person that the events or circumstances described in such
statements are material. CONTACT: Brett Chiles (713) 529-0900
DATASOURCE: Equus Total Return, Inc. CONTACT: Brett Chiles of Equus
Total Return, Inc., +1-713-529-0900 Web site:
http://www.equuscap.com/ http://www.nickentgolf.com/
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