Bank Of The Carolinas Corp fka BCAR

[ALERTS100%to10000%GAIN]

BCAR~~NEWS, Bank of the Carolinas Corporation Reports Effectiveness of Resale Registration Statement? ?


MOCKSVILLE, N.C., Dec. 20, 2014 /PRNewswire/ -- Bank of the Carolinas Corporation (OTCQB: BCAR) today reported that the Securities and Exchange Commission declared effective the company's registration statement on Form S-1 relating to the resale of up to 458,132,991 shares of the company's common stock by certain selling stockholders. The company registered these shares to satisfy contractual commitments it made in connection with a private placement on July 16, 2014 of approximately $45.8 million in common stock to certain institutional investors and other accredited investors at a sales price of $0.10 per share.

The resale registration statement, while effective, allows selling stockholders to publicly resell their shares of BCAR common stock, subject to the satisfaction by selling stockholders of the prospectus delivery requirements of the Securities Act of 1933, as amended, in connection with any such resale. The selling shareholders will sell at prevailing market prices or privately negotiated prices. The company will not receive any proceeds from any sales by selling stockholders.

The offering of these securities by selling security holders may only be made by means of a prospectus. A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. The registration statement may be accessed through the SEC's website at www.sec.gov. A copy of the prospectus related to the offering may be obtained from Bank of the Carolinas Corporation, 135 Boxwood Village Drive, Mocksville, NC 27028, or by calling [phone].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the company's securities.

Bank of the Carolinas Corporation is the holding company for Bank of the Carolinas, a North Carolina chartered bank headquartered in Mocksville, NC with offices in Advance, Asheboro, Concord, Harrisburg, Landis, Lexington and Winston-Salem. The common stock of the Company is quoted under the symbol "BCAR" on the OTCQB marketplace operated by OTC Markets Group Inc.

For further information contact:


Stephen R. Talbert
President and Chief Executive Officer
Bank of the Carolinas Corporation
[phone]

http://www.prnewswire.com/news-releases/bank-of-the-carolinas-corporation-reports-effectiveness-of-resale-registration-statement-300012845.html