Sub-Urban Brands, Inc. Acquires Los Angeles Based Apparel Manufacturer
May 16 2006 - 9:03AM
Business Wire
Sub-Urban Brands, Inc. (formerly DP&D, Inc.) (OTCBB:SUUB), a
Los Angeles-based designer, manufacturer and marketer of lifestyle
apparel for men and women primarily aged 13 to 29, announced today
that it (the "Company") has acquired all of the outstanding common
stock of Sub-Urban Industries, Inc.("SUI") in exchange for
31,673,363 shares of the Company's common stock. As part of the
transaction, the Company also issued $2,734,900 face amount of
convertible promissory notes in exchange for a like amount of
promissory notes issued by SUI. In addition, the Company issued an
aggregate of 23,611,301 common stock purchase warrants and stock
options on a one for one basis to match outstanding common stock
purchase warrants and stock options issued by SUI. The Company has
filed a Current Report of Form 8 K with the Securities and Exchange
Commission that describes SUI's branded apparel, operations,
marketing strategies and management in detail and further provides
current financial information on SUI and the Company. "We are very
excited about the launch of the next generation of Sub-Urban
activity at this stage in our development," said Joseph Shortal,
Chief Executive Officer of the Company. "We believe we have laid
the groundwork for rapid growth and success as a major new player
in the global apparel industry and look forward to the roll out of
our strategic vision in the weeks, months and years ahead." About
Sub-Urban Brands, Inc. Sub-Urban Brands, Inc. is an innovative
leader in the design, marketing and distribution of premium quality
men's and women's clothing and accessories for the new generation.
The Company pursues robust revenue-generating opportunities within
multi-tiered retail markets that do not require dependence on any
one brand or market segment for financial success. Sub-Urban is
committed to further expansion and increased shareholder value
through both the internal development of intellectual property and
acquisition of additional brands, as well as to the establishment
of new international marketing alliances that will reinforce its
recurring and non-recurring revenue streams. Inspired by the energy
and vigor of youth culture, Sub-Urban is initially focused on
creating a family of non-competing brands for its key target
consumer, 40 million 15-24 year olds. Sub-Urban's current portfolio
of trademarked apparel and accessory brands includes WHITEBOY for
Men, WHITEBOY for Women, BLACK JESUS and PYT (Pretty Young Thing).
Within the next 18 months, the Company intends to extend these
brand offerings to Japan, Canada, Australia and 25 European
countries. For additional information, please visit
www.whiteboy.com. Forward-Looking Statements This press release
includes statements that may constitute forward-looking statements,
usually containing the words "believe," "estimate," "project,"
"expect," or similar expressions. These statements are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements
inherently involve risks and uncertainties that could cause actual
results to differ materially from the forward-looking statements.
Factors that would cause or contribute to such differences include,
but are not limited to, continued acceptance of the Company's
products and services in the marketplace, competitive factors,
dependence upon third-party vendors, availability of capital and
other risks detailed in the Company's periodic report filings with
the Securities and Exchange Commission. By making these
forward-looking statements, the Company undertakes no obligation to
update these statements for revisions or changes after the date of
this release.
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