FT. LAUDERDALE, FL--(Marketwire - January 28, 2009) - Tri-Star Holdings, Inc. (PINKSHEETS: TSHL) announced that Steven M. Cohen and Philip M. Matteis have been elected to the Company's Board of Directors. Mr. Cohen and Mr. Matteis bring vast health industry experience to the Company and have been appointed to the Board in connection with the acquisition of Lyfetec, Inc., the recently announced acquisition target and licensed distributor of cutting edge disease home screening test kits. Under the terms of the Lyfetec deal and its definitive agreement(s), the acquisition and merger will close on February 1st, 2009, so as not to interfere with the closing of UC Hub Group, Inc.'s acquisition of Tri-Star mining assets and the connected dividend that Tri-Star management has previously announced. The record date for the previously announced dividend of UC Hub Group shares delivered to Tri-Star Holdings in connection with the asset sale is January 30, 2009 -- this coming Friday. All (and only) Tri-Star shareholders of record as of January 30 will receive the dividend, which will be delivered at an as-of-yet unannounced date on a pro rata basis.
Mr. Cohen has a diverse background with over 30 years of experience in corporate management, product development strategy and international distribution/production. He holds a Masters in Administrative Education and has conducted numerous international conferences in leadership development. Mr. Cohen has completed an MBA in Business Administration at Loyola University in New Orleans and holds a Doctor of Law Degree. Mr. Cohen has been instrumental in many high level corporate engagements and successful business ventures over the years including holding the Office of President and CEO of Diane Von Furstenberg, and spearheading the development and brand identity of Calvin Klein where he held the position of Executive Vice President. Currently, Mr. Cohen is the COO of Allarae HealthCare, Inc., a publicly traded company in the consumer health market.
Even before graduating from the University of North Texas in 1970 and attending the Institute for Computer Sciences in Dallas for two years, Mr. Matteis began his first foray in the medical industry in 1969 by assisting in the programming of hospital computer software systems utilizing COBOL, FORTRAN, RPG, PL/1 and Assembler language. Mr. Matteis continues to be involved in healthcare oriented systems design/programming and wireless secured communications as President of Lyfetec, Inc. and has attained a diverse background with over 38 years of experience in the technology sector. Additionally, Mr. Matteis has actively managed several companies and complex projects either directly or in a consulting capacity.
Mr. Cohen and Mr. Matteis join Anthony Mellone and Donna Yarmin on the Board of Directors following vacancies in connection with the sale of Tri-Star mining assets.
For more information, visit www.tristarcorporate.com.
Safe Harbor Provision
This news release includes forward-looking statements, including with
respect to the future level of business for the parties. These statements
are necessarily subject to risk and uncertainty. Actual results could
differ materially from those projected in these forward-looking statements
as a result of certain risk factors that could cause results to differ
materially from estimated results. Management cautions that all statements
as to future results of operations are necessarily subject to risks,
uncertainties and events that may be beyond the control of Tri-Star
Holdings, Inc. and no assurance can be given that such results will be
achieved. Potential risks and uncertainties include, but are not limited
to, the ability to procure, properly price, retain and successfully
complete projects, the availability of technical personnel, changes in
technology and competition.
