WEST PALM BEACH, Fla. -- Striker Capital Corp., which has changed its name to Petro Plus USA Inc., said it has already identified acquisition candidates that will allow it to begin retail gas station and convenience store operations in the southeastern United States in the latter half of 2006.
The company has developed a comprehensive acquisition plan and business integration strategy, it said, and has completed its domicile change from the state of Colorado to the state of Nevada. In addition, it has changed its corporate name and trading symbol to [image-nocss] Petro Plus USA and PTRP.
Management said it believes that the name change will provide increased recognition in the investment community and align the company with its core business.
Headquartered in West Palm Beach, Fla., Petro Plus USA is a gasoline retailing company focused exclusively on the acquisition, ownership and operations of strategically located stations. Each of the acquired businesses in the company's portfolio will include c-stores offering merchandise such as car care products, tobacco, beer, soft drinks, self-service fast food and beverages, publications, dairy products, groceries, health and beauty aids, money orders and other essential retail services. Petro Plus said it will provide customers with a bright, clean and modern environment, important factors in sustaining and increasing customer traffic.
Petro Plus is targeting businesses that offer a convenient shopping experience with approximately 2,400 square feet of selling space. Each location will undergo a rigorous merchandising program in order to operate profitable and high-volume c-stores, it said. The business model demands that each c-store will be converted to the Petro Plus USA brand in order to build customer recognition.The company said it expects to build its brand equity by providing an attractive and inviting retail environment with uniform standards.
Petro Plus said that it plans to capitalize on the demographic growth of regional markets, while offering the right product mix to suit the daily shopping needs of its customers. Furthermore, each acquired business must qualify under a rigorous investment criterion to ensure that the acquisition is cash accretive and will maximize shareholder return.
According to the company, Management is totally confident that its experience, constant innovation and commitment to honesty and transparency will create a profitable business.The company's mission is to make Petro Plus USA, the first choice for consumers when purchasing gasoline and other necessities for a modern lifestyle.
Petro Plus USA also announced the appointment of its new management team and additions to its board. Effective July 1, 2006, David Cohen was appointed president and CEO; Robert Rudman was appointed CFO, secretary and treasurer; and Douglas Martin was appointed vice president and COO. David Cohen and Robert Rudman were also appointed to the board and Douglas Martin serves as chairman.
Cohen has extensive experience in the securities markets, corporate finance and consulting for publicly traded companies. As an advisor for various investment banks and brokerage firms since 1996, he specialized in the small and micro-cap markets. He was responsible for arranging financings in the public and private-equity markets for emerging companies in a variety of industries. He was responsible for managing more than $65 million of nondiscretionary assets. From December 2000 to January 2003, he was a principal/branch manager at Wachovia Securities Inc. in southern Florida.
Martin is chairman of D.P. Martin & Associates Inc., West Palm Beach, Fla. For more than five years, his firm has offered a range of consulting services. Having established a network of financial investors, he and his associates serve as business consultants to a variety of public and private U.S. and international companies.
Rudman is the director of finance for D.P. Martin & Associates Inc. He is a Canadian Chartered Accountant with more than 20 years of experience assisting public companies. He also serves as chairman of SmarTire Systems Inc., Richmond, B.C. He joined SmarTire in 1993 as CFO and was appointed president and CEO in 1996. In June 2006, he resigned his management position with SmarTire, accepted the new appointment of nonexecutive chairman and relocated to Florida to join D.P. Martin & Associates. Prior to joining SmarTire, he was a partner in a consulting firm providing assistance to publicly traded companies. He became a chartered accountant in 1974 and worked with Laventhol & Horwath and Price Waterhouse.
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