|   24 Hours of Adrenalin... the release | twenty4 sports
Jan 23, 2004 2:35 PM | | For Immediate Release
January 19, 2004
24 Hours of Adrenalin lives on!
New Company, same Great Races
Toronto twenty4 sports inc. is please and excited to announce the purchase of the assets of Trilife Inc., one of North America's largest promoters of mountain bike racing. twenty4 sports inc., owned and operated by the same principals that founded Trilife Inc., will be offering cycling enthusiasts the same gut-wrenching, heart-pounding events that thousands have experienced. Host sites have been confirmed and athletes and sponsors have already started signing up for this year's events.
"Cyclists can be assured they will still have the opportunity to experience the excitement of 24 Hours of Adrenalin. The same dedicated team will continue to offer the ultimate racing adventure to athletes across the continent. We have restructured our business operations so we can invest in improving the race experience for our athletes. The cost of servicing lawsuits was hindering our ability to continue to lead our industry. In the future, cyclists can expect an even better race," stated Stuart Dorland, president and CEO of twenty4 sports inc. "Restructuring our operations was a sound business decision based on our efforts to ensure we could continue to offer racing enthusiasts the world's most exciting cycling experience".
Trilfe Inc. made the business decision to declare bankruptcy last December rather than continue to service the cost of a number of lawsuits. The largest liabilities of the former company were the outstanding lawsuits. The assets purchased by twenty4 sports inc. include all the undertakings, property, contracts and assets of Trilife Inc.
"Athletes across North America can look forward to the challenge of competing in the 24 Hours of Adrenalin. I encourage cyclists of all levels to experience the rush of these races in 2004," stated Chris Eatough, four time 24 Hours of Adrenalin World Champion.
"CLIF BAR looks forward to continuing our successful sponsorships with the 24 Hours of Adrenalin team. The energy and enthusiasm created by the races is a great way to target our athletic, health-conscious customers," stated Gary Erickson, founder and CEO of CLIF BAR Inc.
"Canmore is looking forward to hosting another successful race this year. We have enjoyed a great working relationship with the "24 Hours of Adrenalin" team and are pleased to hear they will be back again. This is positive news for our local businesses and athletes", stated Ron Henderson, General Manager, Canmore Nordic Centre Provincial Park.
"We are excited to hear 24 Hours of Adrenalin will continue in Whistler and be run by the same group of people who have made this an incredibly successful event. The race has always been a profitable event for Whistler business community and we look forward to continued success. I am sure local sponsors and racers can hardly wait for this year's race", stated John Rae, Manager Strategic Alliances & Marketing Services, the Municipality of Whistler.
"I am happy to hear that the team who brought us 24 Hours of Adrenalin will continue to organize cycling races across North America", stated Nicholas Freedman, Publisher, Mountain Bike and Bicycling Magazine and board member of the Bikes Belong Coalition.
Founded in 2004, twenty4 sports inc. one of the largest promoter of mountain bike racing in North America. twenty4 sports inc. is a privately owned company. Available to novices and professional athletes alike, 24 Hours of Adrenalin is a massive relay, where teams of up to ten people compete to ride as many laps as possible in a 24-hour time frame. twenty4 sports inc. plans to host ten races this year. For more information or to register online please visit us at www.24hoursofadrenalin.com.
For Further information:
info@twenty4sports.com
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