LOS ANGELES, Feb. 16, 2011 /PRNewswire/ -- Legacy Athletic Apparel, LLC. (Legacy), a development-stage company that designs and manufactures athletic shoes and apparel, announces the recent closing of its reverse merger into Mondial Ventures Inc. (Pink Sheets: MNVN), (Mondial), with Mondial being the surviving entity. Through this transaction, Legacy becomes a public reporting company with Legacy's executive team, including CEO Rodney Henry, becoming the new management of the combined company. Mondial Ventures will subsequently be changing its name to Legacy Athletic Brand, Inc. to reflect the new business model. Until such time as a new stock symbol is obtained, the shares will continue to trade under the existing symbol, (MNVN.PK).
There are currently a total of 100,000,000 common shares issued and outstanding in the newly combined entity. As part of the merger, Marc Juliar resigned from his positions as chief executive officer and chief financial officer of Mondial while Rodney Henry and Rob Fiallo became the respective Chief Executive Officer and Chief Operating Officer of the company.
Legacy's core business is the development, design, marketing and distribution of athletic shoes and apparel for mass markets. Legacy was founded and created by lifestyle entrepreneur Rodney Henry, who is now CEO of the combined company. Mr. Henry is also the founder and co-owner (along with well known investor and "CEO of Hip Hop" Ruby Azrak) of Protege, a highly successful footwear and clothing company whose products are sold at accessible price points exclusively through Sears and K-Mart in over 3,000 stores. The North American rights to Protege's brand and product lines are currently licensed by Sears Holdings Corporation.
"Becoming a publicly listed company is essential for attracting investors as we prepare to launch our brand in the domestic market," remarked Henry. "I remain committed to the concept that proved so successful in my last venture; a high performance, beautifully designed shoe at a practical price. The Legacy line will be available through low-to-mid tier retailers and appeal to young, cost-conscious consumers."
About Legacy Athletic Brand, Inc.
Legacy's principal business activities are the development, design, marketing and distribution of branded performance apparel, footwear and accessories for men, women and youth. Legacy intends to sell its products worldwide to be worn by athletes at all levels on playing fields around the globe, as well as by consumers with active lifestyles interested in fashion-forward products. Legacy's initial focus will be distribution in the lower-tier and mid-tier mass market with potential expansion into the higher tier markets once brand recognition has been established. Legacy intends to apply to register several trademarks and trade names as well as license additional trademarks and trade names from their respective holders. The company intends to have numerous brands geared to differing demographics and consumer groups. Legacy will begin in the athletic arena and then carry extensions into lifestyle and casual wear. For more information, visit www.legacyathleticbrand.com
Forward Looking Statements
Certain statements contained herein are forward looking. These forward-looking statements are based on our current expectations and are subject to a number of risks, uncertainties and assumptions. Many factors could cause actual results to differ significantly from these statements, including our history of operating losses, our need for additional financing, a failure of our products to perform as expected, introduction of competing products by other companies, pressures on prices from competitors and/or customers, regulatory obstacles to new product introductions, lack of acceptance of our products and technology changes. These risks, uncertainties and assumptions are detailed in documents filed by us with the Securities and Exchange Commission. The Company cautions that the foregoing list of important factors is not exclusive. Any forward-looking statements are made as of the date of the document in which they appear. The Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company.
SOURCE Legacy Athletic Brand, Inc.