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Adrenalina Discloses Its Four Nominees for Election to the Pacific Sunwear Board
Business Wire, Feb 13, 2009
Slate Includes a Successful and Influential Mix of Individuals with the Expertise Necessary to Reinvigorate the Company's Brand
MIAMI -- Adrenalina (OTCBB:AENA) disclosed today its slate of four director nominees for election to the Board of Directors of Pacific Sunwear of California Inc. (Nasdaq: PSUN; "PacSun"), at the Company's 2009 Annual Meeting of Shareholders. The Adrenalina Group, which beneficially owns 2,097,313 shares in the aggregate, or approximately 3.2% of the outstanding shares of the Company, announced on February 12, 2009 that it had delivered a letter to PacSun providing notice of its intent to run a proxy contest as well as a letter to PacSun's Chairman & CEO, Sally Frame-Kasaks, citing the Company's disastrous performance and calling for her immediate resignation.
"We are delighted that this talented group of individuals has joined our quest to increase PacSun shareholder value through a merger between Adrenalina and PacSun," stated Ilia Lekach, CEO and Chairman of Adrenalina. "Enlisting their talents is a clear indication of the kind of fresh thinking we would bring to our efforts to improve the overall performance of PacSun."
Adrenalina's slate of nominees includes:
[TABLE OMITTED]
About Adrenalina
Adrenalina pioneered and branded "The Extreme Store" concept, which showcases top-quality athletic apparel, equipment and accessories in a fun, engaging retail entertainment format. Building on the popularity of the Adrenalina TV program, Adrenalina stores feature the FlowRider[R] wave machines for which it has exclusivity in retail locations. With over 1 million visitors to the stores per year, Adrenalina locations average 10,000 square feet and carry the best in extreme sports apparel, footwear, equipment and accessories from industry leaders and fashion brands such as Quiksilver, Billabong, Volcom, O'Neil, Reef, Crocs and Ed Hardy. Adrenalina has retail locations in Miami, FL; Orlando, FL; and Tampa, FL; and locations under construction in Denver, CO; Alpharetta, GA; Plano, TX; and Houston, TX. The Company has also secured an additional prime location in the New York Metro market. Adrenalina (AENA) is quoted on the Over The Counter: Bulletin Board. For more information, please visit www.adrenalinastore.com.
Disclosure Regarding Forward-Looking Statements
This news release contains forward-looking statements. All statements other than statements of historical fact made herein are forward looking. In particular, the statements herein regarding industry prospects and future results of operations or financial position are forward-looking statements. These forward-looking statements can be identified by the use of words such as "believes," "estimates," "could," "possibly," "probably," anticipates," "projects," "expects," "may," "will," or "should" or other variations or similar words. No assurances can be given that the future results anticipated by the forward-looking statements will be achieved. Forward-looking statements reflect management's current expectations and are inherently uncertain. Our actual results may differ significantly from management's expectations.
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