Carbite Expands Inabata Strategic Relationship and Enters Private Placement

Apr 18, 2001, 01:00 ET from Carbite Golf

    SAN DIEGO, April 18 /PRNewswire/ -- Carbite Golf (CDNX: CAB) announces
 that it has expanded its strategic relationship with Inabata & Co.  Inabata
 has increased its LC inventory facilities along with a new working capital
 facility.  Inabata will also provide manufacturing and product sourcing
 support.  "The expanded strategic relationship with Inabata & Co. will provide
 Carbite the financial strength to achieve its goals of being the #1 putter and
 wedge company in the world," said John Pierandozzi, President and CEO.
     The Company also entered into a private placement agreement for the
 purchase of 1,940,000 common shares at a price of Cdn.$0.20 per share and
 subject to Board and regulatory approval.  There will be no finder's fee
 payable pursuant to this placement.  The proceeds of the private placement,
 being Cdn.$388,000.00, will be used by the Company for general working
 capital.
 
     About Carbite Golf
     Carbite Golf is a San Diego based golf equipment manufacturer of
 innovative golf equipment.  Patented powder metallurgy technology permits golf
 club designs with a bigger sweet spot and better results from off-center hits.
 Current products include the "Polar Balanced Putter" and the "Polar Balanced
 Wedge."  Carbite is also the exclusive U.S. distributor of Daiwa woods, irons,
 bags and gloves.  Additionally, Carbite sells the "Sergio Garcia Putterball,"
 a training aid popular on the PGA Tour, and the "Power Ti-Pod," the antidote
 for players who can't hit a traditional driver.  For more information on
 Carbite Golf, please contact Mike Pinckes at Carbite Golf, 9985 Huennekens
 St., San Diego, CA, 92121, telephone 800-272-4325 or fax 858/625-0572, or
 visit Carbite Golf's Web Site at www.carbitegolf.com.
 
 

SOURCE Carbite Golf
    SAN DIEGO, April 18 /PRNewswire/ -- Carbite Golf (CDNX: CAB) announces
 that it has expanded its strategic relationship with Inabata & Co.  Inabata
 has increased its LC inventory facilities along with a new working capital
 facility.  Inabata will also provide manufacturing and product sourcing
 support.  "The expanded strategic relationship with Inabata & Co. will provide
 Carbite the financial strength to achieve its goals of being the #1 putter and
 wedge company in the world," said John Pierandozzi, President and CEO.
     The Company also entered into a private placement agreement for the
 purchase of 1,940,000 common shares at a price of Cdn.$0.20 per share and
 subject to Board and regulatory approval.  There will be no finder's fee
 payable pursuant to this placement.  The proceeds of the private placement,
 being Cdn.$388,000.00, will be used by the Company for general working
 capital.
 
     About Carbite Golf
     Carbite Golf is a San Diego based golf equipment manufacturer of
 innovative golf equipment.  Patented powder metallurgy technology permits golf
 club designs with a bigger sweet spot and better results from off-center hits.
 Current products include the "Polar Balanced Putter" and the "Polar Balanced
 Wedge."  Carbite is also the exclusive U.S. distributor of Daiwa woods, irons,
 bags and gloves.  Additionally, Carbite sells the "Sergio Garcia Putterball,"
 a training aid popular on the PGA Tour, and the "Power Ti-Pod," the antidote
 for players who can't hit a traditional driver.  For more information on
 Carbite Golf, please contact Mike Pinckes at Carbite Golf, 9985 Huennekens
 St., San Diego, CA, 92121, telephone 800-272-4325 or fax 858/625-0572, or
 visit Carbite Golf's Web Site at www.carbitegolf.com.
 
 SOURCE  Carbite Golf

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