Student Advantage Sells CollegeClub.com
15 Novembre 2003 - 5:18AM
PR Newswire (US)
Student Advantage Sells CollegeClub.com BOSTON, Nov. 14
/PRNewswire-FirstCall/ -- Student Advantage, Inc. (BULLETIN BOARD:
STUA) announced today that it has sold substantially all of the
assets related to its CollegeClub.com business to Alloy, Inc. for
$600,000 in cash, a performance based earnout and the assumption of
certain related liabilities. The Company expects proceeds from the
earnout to offset the cost of certain transition services it agreed
to provide to Alloy, Inc. through February 2004. (Logo:
http://www.newscom.com/cgi-bin/prnh/19991201/STADLOGO ) About
Student Advantage Student Advantage, Inc. (OTCBB: STUA) is a
leading integrated media and commerce company focused on the higher
education market. Student Advantage works with hundreds of
colleges, universities and campus organizations, and more than
15,000 merchant locations to develop products and services that
enable students to make purchases less expensively and more
conveniently on and around campus. The company reaches its consumer
base offline through the Student Advantage Membership and online
through its Web sites, studentadvantage.com and CollegeSports.com,
the hub site for its Official College Sports Network. This
announcement may contain forward-looking statements, which are
based on current expectations and involve a number of risks and
uncertainties. There are a number of important factors that could
cause actual results to differ materially from those expressed in
any forward-looking statements made by Student Advantage. Investors
are directed to consider the risks associated with the failure of
the company to reach agreement with third parties for the
acquisition of the business, the failure of the company to obtain
the requisite stockholder approval, doing business with colleges
and universities, the uncertain nature of the regulatory structure
of the SA Cash offerings, the company's need to raise additional
capital, the seasonality of the company's revenues, the cyclical
nature of the company's business, economic and other conditions in
the company's markets, the competitive environment, the failure to
achieve the anticipated benefits of acquisitions and strategic
partnerships for any reason, the company's progress to
profitability and uncertainties and other risks discussed in
documents filed by the company with the Securities and Exchange
Commission including, without limitation, under "Factors that May
Affect Future Results" set forth in Student Advantage's Form 10-Q
for the nine months ended September 30, 2003. We undertake no
obligation to publicly release the result of any revisions to these
forward-looking statements, which may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
http://www.newscom.com/cgi-bin/prnh/19991201/STADLOGO
http://photoarchive.ap.org/ DATASOURCE: Student Advantage, Inc.
CONTACT: Student Advantage, Inc. Investor Relations,
+1-617-880-7737, or Web site: http://www.studentadvantage.com/
http://collegesports.com/
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