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DynEco Corporation Acquires Dynamic Leisure Group, Inc. and Enters the $500 Billion Travel Industry
28 January 2006 DynEco Corporation (OTC Bulletin Board: DYCO) announced today that on January 13, 2006, it completed the acquisition of all the outstanding capital stock of Dynamic Leisure Group, Inc. ("Dynamic"), which will now operate as a wholly owned subsidiary of DynEco. After several years of operating in the industrial goods industry, DynEco's acquisition of Dynamic positions the Company to operate in the $500 billion travel industry, primarily focusing on the wholesale travel market. As a result of the Company's new business focus, DynEco shareholders will vote, among other things, to approve a corporate name change from DynEco Corporation to Dynamic Leisure Group, Inc. at a shareholders' meeting to be held on January 31, 2006.
Dynamic owns the proprietary rights to Tourscape, a packaging software that enables end-users the ability to create, price and manage multiple travel products online, instantaneously. Dynamic is focused on utilizing its proprietary software to create a dynamic technology platform for the sales and marketing of domestic and international leisure travel products. In addition to direct-to-consumer sales (Internet sales), the Company also intends to operate as a travel wholesaler that provides packaged trips to travel agencies and other resellers.
Daniel G. Brandano, CEO of Dynamic, stated, "Today's travel industry is ripe with opportunity. The dramatic shift from off-line to Internet travel sales, coupled with a surge in popularity in vacation packages, bodes well for Dynamic's integrated online technology business model. Our strategy will be to sell high volume, well known destinations, such as Hawaii, Mexico, California, Las Vegas, Florida, the Caribbean and Europe, which can be easily purchased directly by the end-user or traveler through the Internet. Our initial growth strategy is to obtain a presence in both the US and Europe, primarily through acquisition, allowing us to quickly create a revenue stream. Further expansion will utilize a combination of acquisitions and organic growth as we build a corporate brand identity to take advantage of current and future opportunities."
Dynamic has attracted an experienced and successful management team:
Daniel G. Brandano, President and CEO of Dynamic Leisure Group since its inception in May 2005, has been appointed CEO of DynEco. Mr. Brandano brings a wealth of experience, having held numerous positions as CEO in the private and public sector. Among his accomplishments, Mr. Brandano is responsible for creating the ninth largest car rental company in the United States, USA Rent A Car, where he grew the firm's revenues to more than $60 million dollars while maintaining meaningful profitability. His experience in the international travel industry includes: operations, management, consulting, merger and acquisitions, and the development of Dynamic's e-commerce distribution platform and business model.
Thomas W. Busch, Director, Vice President and Chief Financial Officer, has served as Vice President and Chief Financial Officer of Dynamic Leisure Group since May 2005. From April 2001 to April 2005, Mr. Busch was an independent financial consultant. From September 2000 to May 2001, Mr. Busch served as the Chief Financial Officer for Affinity International Travel Systems, Inc. based in St. Petersburg, Florida.
Robert A.G. LeVine, Director, Secretary and General Counsel, has been a licensed attorney in good standing in the State of Florida since 1987 and has, since 1992, been a principal in his own private practice. Mr. LeVine earned his Bachelor of Arts degree from Harvard University and his Juris Doctor degree from the University of Cincinnati College of Law, where he served as Executive Editor of the Cincinnati Law Review.
At the shareholders' meeting, shareholders will also consider: the election of directors for the coming year; an increase in the number of shares of common stock DynEco is authorized to issue; changing the domicile of DynEco from Minnesota to Florida; and a reverse split of DynEco's outstanding common stock at the rate of 1:30. Full details on the transaction can be found in the Company's Form 8-K filed on January 23, 2006, at http://www.sec.gov.
About DynEco Corporation
DynEco, through its wholly owned subsidiary Dynamic Leisure Group, Inc. ("Dynamic"), is focused on consolidating leisure-based travel products, such as airfares, hotels, car rentals, excursions, and tours, using proprietary computer software and broadband communication technology. The Company plans to acquire established travel wholesale companies in the United States, the United Kingdom, and the European Union, while also pursuing organic growth. While increasing volume in the Internet direct-to-consumer market, DynEco also intends to operate as a travel wholesaler that provides packaged trips to travel agencies and other re-sellers. DynEco is also the licensor of certain patented technology under an exclusive license agreement with Parker-Hannifin Corporation, a Fortune 500 industrial company.
Forward-looking statement: Except for the historical information, the matters discussed in this news release may contain forward-looking statements, including, but not limited to, factors relating to future sales. These forward-looking statements may involve a number of risks and uncertainties. Actual results may differ materially from those reflected in the forward- looking statements based on a number of factors, including, but not limited to, the ability to identify appropriate acquisition candidates, the ability to successfully consummate acquisitions, the ability to successfully integrate acquisitions under the Dynamic umbrella, uncertainties in product demand, the impact of competitive products and pricing, the ability to compete with other travel-related enterprises, many of which have far greater financial resources than DynEco, changing economic conditions around the world, release and sales of new products, the ability to mount and maintain successful marketing and branding programs, and other risk factors detailed in the company's most recent annual report and other filings with the Securities and Exchange Commission.
For further information, contact:
At the Company:
Dan Brandano, CEO
813-877-6300
ceo@leisureseek.com
Investor Relations:
OTC Financial Network
Peter Clark
781-444-6100, x629
peter@otcfn.com
Source: prnewswire
All trademarks and copyrighted information contained herein are the property of their respective owners.
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