SUFFER Signs Multi-Million-Dollar MOU for Trademark Licensing in Canada
20 Abril 2011 - 9:45AM
Marketwired
Suffer (PINKSHEETS: SUFF) today announced that the company has
signed a Memorandum of Understanding with anticipated value in the
millions of dollars.
Joseph Lewis, President of Suffer, stated, "Canada is one of the
strongest markets in MMA. In fact the UFC is holding its Fan Expo
in Toronto late this month in conjunction with UFC 130. It is the
first MMA event held by the UFC in Ontario since they made the
sport legal. Canada was already one of the, if not the, biggest
consumers of MMA related merchandise after the US. Now it is only
going to get better. Frank Mir is going to Canada for the Expo to
help promote Suffer."
Terms of the MOU call for Suffer to allow a Canadian Company use
of trademark rights related to Apparel. Suffer would design the
Apparel in the United States, but the actual production and
distribution would take place in Canada. Suffer would retain a
percentage of the Gross Sales Revenue, and would provide access to
its athletes such as Frank Mir, Robert Drysdale, and Fernando
Vargas for promotional events. Suffer will also collaborate with
the company to air television ads throughout Canada that Suffer has
recently been producing.
Suffer will retain its right to market to existing storefronts
that it currently distributes to. Suffer also retains the rights to
market any other non-related product such as products from the
Media division.
Suffer's Projected Annual Revenues from the Canadian Company
Use of Trademark associated with apparel (T-Shirts, Hoodies,
Hats, etc.)
$2,500,000 Suffer's Retained
$20,000,000 in projected Sales Percentage
Use of Trademark associated with approved Fight Gear
$500,000 Suffer's Retained
$5,000,000 in projected Sales Percentage
Per terms of the MOU we may not disclose the name of the
Canadian Company. The Company Manufactures and Distributes clothing
throughout Canada. Their distribution network reaches approximately
989 stores.
Other Suffer News
Suffer Director Frank Mir will be hosting a Suffer/Frank Mir
knock out poker tournament tonight with UFC Poker. There is $1000
in prizes. Go to www.ufcpoker.com to sign up.
Safe Harbor Statement: This release
includes forward-looking statements intended to qualify for the
safe harbor from liability established by the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
generally can be identified by phrases such as SUFFER (SUFF) or its
management "believes," "expects," "anticipates," "foresees,"
"forecasts," "estimates" or other words or phrases of similar
import. Similarly, statements herein that describe the Company's
business strategy, outlook, objectives, plans, intentions or goals
also are forward-looking statements. All such forward-looking
statements are subject to certain risks and uncertainties that
could cause actual results to differ materially from those in
forward-looking statements.
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