Thursday, May 12, 2005

whoa not so fast, coldsmoke!

Confluence has just purchased Watermark's water division, not Yakima et al.....see Confluence's press release below.

CONFLUENCE HOLDINGS TO ACQUIRE WATERMARK’S WATER SPORTS DIVISION

Trinity, NC, May 12, 2005 – Confluence Holdings Corp. (“Confluence”) announced today that a purchase agreement has been signed under which Confluence will acquire the water sports division’s assets of WaterMark Paddlesports Inc. (“WaterMark”), including WaterMark’s paddlesports brands, the WaterMark name and WaterMark’s assets in Easley, SC. The agreement does not include WaterMark’s land sports division. Industry veteran Richard Feehan has been named CEO of Confluence. The transaction is expected to close Monday, May 16th, 2005.

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