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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
July 19, 1999
[Date of earliest event reported.]
COYOTE SPORTS, INC.
(Exact name of registrant as specified in its charter)
Commission file number 333-29077
Nevada 88-0326730
[State or other jurisdiction [I.R.S. Employer Identification No.]
of incorporation or organization]
2291 Arapahoe Avenue
Boulder, Colorado 80302
[Address of principal executive offices] [Zip Code]
Registrant's telephone number, including area code: (303) 932-8794
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ITEM 5. OTHER EVENTS
On July 19, 1999, Coyote Sports, Inc. issued a press release announcing that the
Company had sold its 80% interest in Sierra Materials LLC which owns 100% of the
outstanding shares of Cape Composites Incorporated.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) None.
(b) None.
(c) Exhibits.
99.1 Text of the press release issued by Coyote Sports, Inc.
on July 19, 1999.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
COYOTE SPORTS, INC.
(Registrant)
Dated: July 19, 1999 By: /s/ John Paul McNeill
Name: John Paul McNeill
Title: Chief Financial Officer and
Treasurer
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Exhibit 99.1
FOR IMMEDIATE RELEASE NEWS
Nasdaq-COYT
COYOTE SPORTS, INC. SELLS MAJORITY INTEREST IN SIERRA MATERIALS LLC
BOULDER, Colorado-- (BUSINESS WIRE)--Coyote Sports, Inc. (Nasdaq-COYT), a
leading provider of recreational products and sports equipment to the golf and
cycling industries, today announced it has sold its 80% majority interest in
Sierra Materials LLC, which owns 100% of the outstanding shares of Cape
Composites Incorporated.
"This is our first significant step in our plan to restructure the Company and
its financial obligations. As a result of the sale, we decreased our total bank
debt by approximately $2.3 million," said Jim Probst, CEO and President. "We
will continue to review and evaluate each business unit with an aim to bring the
Company back to profitability," said Mr. Probst.
Coyote Sports, Inc., is a diversified sports manufacturing company that
specializes in golf club shafts (Apollo and Unifiber golf shafts), and cycle
tubing (Reynolds premium cycle tubing).
Certain oral and written statements of management of the Company included in
this press release may contain forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, and Section 21E of the Securities
Exchange Act of 1934, that involve risks and uncertainties that could cause
actual results to differ materially.
CONTACT:
Investor Relations Services Inc.
Ph: 904/409-0200
