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Kuhlman Company Announces New Retail Store Openings; Opens 2 Stores During Month of June
MINNEAPOLIS
Company Contact:
Kuhlman Company, Inc.
Scott Kuhlman, Chief Executive Officer, 612/338-5752
or
Investor Relations Contact:
Integrated Corporate Relations, Inc.
James Palczynski or Chad Jacobs, 203/682-8200
Kuhlman Company, Inc. (OTCBB: KHLM) today announced it has opened its second Manhattan retail store location at 79 West 12th Street, as well as a new store in Omaha, Nebraska, bringing the Company's total number of stores to 33.
The second store in New York City is a new location in Greenwich Village, a strong brand building location with excellent traffic. The Company believes that this location will both significantly outperform its average location in terms of sales and contribution and will also serve to enhance the Company's image and competitive position as a high-value retailer of contemporary, tailored fashion for style-conscious young men and women. The Company has been very pleased with initial results from the first Manhattan store opening, in Rockefeller Center.
Scott Kuhlman, Chief Executive Officer, commented, "We are very pleased with the performance of our recent store openings. We believe that the Kuhlman concept is filling a void in the market for high-quality, fashionable tailored apparel with an excellent value proposition. As we continue to roll out our concept, we believe we have an excellent opportunity to grow our company into one of the country's leading specialty retailers and to drive strong returns to our shareholders."
The Company continues to target opening at least 25 new locations during their fiscal year ending on January 1, 2006. The Omaha, Nebraska location is expected to open on June 24, 2005.
Gaming Venture Corp. Becomes Kuhlman Company, Inc.
MINNEAPOLIS, June 9 /PRNewswire/ -- Kuhlman Company, Inc., formerly Gaming Venture Corp., U.S.A., announced today that the Company has begun trading under the symbol KHLM on the OTC Bulletin Board. The Company had previously traded under the symbol GVUS.
Kuhlman is a specialty retailer and wholesale provider of both men's and women's apparel, offered under the Kuhlman brand through company-owned retail stores and under private labels through other large retailers. Kuhlman opened its first retail store in July 2003 and now operates thirty (30) retail stores in 16 states, competing in the "better-priced" market, with most stores located in upscale malls. The majority of Kuhlman's stores are for men but the company recently developed a woman's specialty boutique format, with woman's apparel available in 6 locations. The strategy of Kuhlman is to develop a nationally recognized brand by strategically opening its apparel stores in upscale shopping malls, upscale street locations, high-traffic transportation hubs and open air lifestyle centers. Kuhlman also provides product design and contract manufacturing for department store retailers seeking to augment their in-house design and sourcing expertise. Kuhlman has approximately 150 employees and its corporate office is located in Minneapolis, MN. Additional information regarding Kuhlman and its apparel, and store locations can be found at http://www.kuhlmancompany.com .
Gaming Venture Corp. Announces Expected Completion Date of Kuhlman Merger
MINNEAPOLIS, June 2 /PRNewswire-FirstCall/ -- Gaming Venture Corp., U.S.A. (OTC Bulletin Board:GVUS) announced that they expect to complete the previously announced reverse merger transaction with SK(2), Inc., a Delaware Corporation and parent company of Kuhlman retail stores ("Kuhlman") on or about June 9, 2005. Kuhlman is a specialty retailer and wholesale provider of exclusively designed, distinctive, high quality apparel.
As previously disclosed, the transaction is designed as a reverse merger with Kuhlman to be the surviving corporation and an operating subsidiary of Gaming Venture Corp., U.S.A. Under the agreement, a wholly-owned subsidiary of Gaming Venture Corp., U.S.A. will merge with and into Kuhlman. As a result of the merger and in exchange for cancellation of their shares, Kuhlman shareholders will receive shares of Gaming Venture Corp., U.S.A. On or about June 9th, Gaming Venture Corp., U.S.A. will effectuate a 1-for-5 reverse split and change the name of the company to Kuhlman Company, Inc.
On completion of the transaction, the board of directors of the new Kuhlman Company, Inc. will be: Scott Kuhlman, Jon Sabes, David Ferris, Chris Larson and Daniel Rindos. Scott Kuhlman is CEO and founder of SK(2) and will be CEO of Kuhlman Company, Inc. Jon Sabes is CEO of Opportunity Finance, LLC, a specialty finance company and has also been a consultant or executive with Jon Adams Financial Co., LLP, Ernst & Young LLP, Gaming Corporation of America and Jefferies & Company, Inc. David Ferris is currently Assistant Vice President of Cargill, Inc. where he advises the board of directors and management on corporate performance and executive compensation issues and is responsible for Cargill's compensation and benefit programs worldwide. Prior to joining Cargill, he was a national practice leader with AON Consulting Group. Chris Larson is Co-founder, Chief Operating Officer and a director of Cash Systems, Inc., a provider of cash access solutions for the gaming industry. He was previously Chief Financial Officer of Cash Systems prior to his promotion. Daniel Rindos is a current board member of Gaming Venture Corp., U.S.A. and is Vice President of Roy Publishing Group, a company that publishes multiple weekly newsstand products in the Northeast as well as several of the top online classified web sites in the U.S.
Gaming Venture Corp., U.S.A. and Kuhlman Announce Merger Agreement
MINNEAPOLIS, April 14 /PRNewswire-FirstCall/ -- Gaming Venture Corp., U.S.A. (OTC:GVUS) (BULLETIN BOARD: GVUS) today announced the signing of a merger agreement with SK(2), Inc., a Delaware corporation and parent company of Kuhlman retail stores ("Kuhlman"). Kuhlman is a specialty retailer and wholesale provider of exclusively designed, distinctive, high quality apparel.
The agreement is designed as a reverse merger with Kuhlman to be the surviving corporation and an operating subsidiary of Gaming Venture Corp., U.S.A. Under the agreement, a wholly owned subsidiary of Gaming Venture Corp., U.S.A. will merge with and into Kuhlman. As a result of the merger and in exchange for the cancellation of their shares, Kuhlman shareholders will receive shares of Gaming Venture Corp., U.S.A. Prior to the closing of the merger, Gaming Venture Corp., U.S.A. will effectuate a 1-for-5 reverse split and change the name of the company to Kuhlman Company, Inc. The completion of the merger is contingent, among other things, on the successful completion of an equity financing by Kuhlman and majority shareholder approval. The board of directors of both companies have approved the transaction.
Kuhlman is a specialty retailer and wholesale provider of both men's and women's apparel, offered under the Kuhlman brand through company-owned retail stores and under private labels through other large retailers. Kuhlman opened its first retail store in July 2003 and now operates thirty (30) retail stores in 16 states, competing in the "better-priced" market, with most stores located in upscale malls. The majority of Kuhlman's stores are for men but the company recently developed a woman's specialty boutique format, opening two stores in late 2004. The strategy of Kuhlman is to develop a nationally recognized brand by strategically opening its apparel stores in upscale shopping malls, upscale street locations, high-traffic transportation hubs and open air lifestyle centers. Kuhlman also provides product design and contract manufacturing for department store retailers seeking to augment their in-house design and sourcing expertise. Kuhlman has approximately 150 employees and its corporate office is located in Minneapolis, MN. Additional information regarding Kuhlman and its apparel, and store locations can be found at http://www.kuhlmancompany.com/
Commenting on this agreement, Kuhlman Chief Executive Officer and Chairman, Scott Kuhlman, said, "We are pleased to announce this agreement and feel that the next step in our growth plan is to become a publicly traded company. In the past twelve months Kuhlman has grown from six (6) retail stores to thirty (30), with many other store openings currently in various stages of planning, development and opening. We have found a very loyal, grass roots following wherever we have opened our stores as consumers have realized our value proposition for high quality apparel along with our one- price strategy for our merchandise, as well as our expertise in translating and adapting European apparel movements to the American marketplace. We look forward to merging our strong shareholder base with the supportive and high quality shareholder base of Gaming Venture Corp., U.S.A."
Gaming Venture Corp., U.S.A. Chairman and Chief Executive Officer, Alan Woinski, added, "As the largest shareholder of Gaming Venture Corp., I look forward to becoming one of the larger shareholders of Kuhlman Company, Inc. and participating in their exciting growth story. Besides becoming a shareholder, I also am a customer which is one of the things that attracted me to Kuhlman. Our goal has always been to build shareholder value and I, along with the board of directors of Gaming Venture Corp., feel that this merger will be in the best interests of our shareholders as their equity interest becomes one of a much larger and faster growing company. I look forward to being part of Kuhlman's growth, both as a shareholder and a customer."
This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about the benefits of the business combination transaction involving Gaming Venture Corp., U.S.A., and Kuhlman, including future financial and operating results, the combined company's plans, objectives, expectations and intentions and other statements that are not in the nature of historical facts, including Kuhlman's ability to continue expansion. Such forward-looking statements are based upon the current beliefs and expectations of the management of Gaming Venture Corp., U.S.A., and are subject to significant risks and uncertainties that could cause actual results to differ materially from those projected. These include the failure of the conditions to the merger, as set forth in the related merger agreement, to be met in a timely fashion (if at all), changes in market conditions, and changes in the competitive landscape in the industry in which Kuhlman operates. Any information which is not historical in nature constitutes a forward-looking statement and speaks only as of the date of this press release. Gaming Venture Corp., U.S.A. undertakes no obligation to update investors of changes in forward-looking statements or the risks and uncertainties in relation thereto as more definitive information may become available.
Gaming Venture Corp., U.S.A.
Web site: http://www.kuhlmancompany.com/
