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Looks like NHSP is gone for sure as the merger completed, from the latest 8k:
"On June 1, 2008 Seaway Valley Capital Corporation acquired all of the assets of North Country Hospitality, Inc. (“NCHI”) by merging Harbor Acquisitions, LLC, a wholly-owned subsidiary of NCHI, into a wholly-owned subsidiary of Seaway Valley Capital Corporation. The new subsidiary, which will operate under the tradename “North Country Hospitality,” is a holding company with several subsidiaries involved in the operation of hotels, restaurants and other businesses in northern New York State. The acquisition was completed under the terms of an Amended and Restated Merger Agreement, which modified the Merger Agreement described in the Current Report dated April 17, 2008."
Altruism is the stuff of superheros. Mere mortals like the rest of us need not apply.
-Sangamon Kid
Also from the 10Q(SWVC) looks like a done deal see bold:
NOTE 9 - SUBSEQUENT EVENTS
On April 1, 2008, the company advanced an additional $100,000 on the original $100,000 non interest bearing note, secured by 2,500,000 shares of common stock and 1,000 shares of preferred stock in North Country Hospitality, Inc., representing a 22% equity interest, with an option to purchase the aforementioned shares, due on December 31, 2007 and subsequently extended.
On April 12, 2008, Thomas Scozzafava exchanged 100,000 shares of Series B Preferred Stock of the Company for 100,000 shares of Series E Preferred Stock. As a result of the exchange, there were no Series B Preferred Shares issued or outstanding.
On April 17, 2008, Seaway Valley Capital Corporation executed an agreement to acquire 100% of the assets and assume 100% of the liabilities of North Country Hospitality, Inc. for the issuance of $5.25 million in Series D Preferred Stock. North Country was formed in 2005 by Christopher Swartz to develop or acquire and operate lodging, restaurant, and recreational venues in and around northern New York, which is commonly referred to as the “north country” region of New York. In addition, North Country Hospitality seeks to acquire or develop strategic consumer products that complement its core hospitality businesses and that can be positioned for growth outside the region. The company’s hospitality assets are positioned to benefit from regional tourism, which is one of the fastest growing industries in the area. And North Country’s premium consumer products are well established locally but can be further positioned for growth outside the region.
Altruism is the stuff of superheros. Mere mortals like the rest of us need not apply.
-Sangamon Kid
1) The company was purchased by SWVC and is in its holding.
2) The purchase is outlined at:
http://www.sec.gov/Archives/edgar/data/884380/000129092908000034/sea8knorthctymerg.htm
So, that's SWVC propery. It will be taken private soon after the certs are settled and a lawyer approves two forms. Scheduled for less than one month if there are no snags.
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http://www.seawaycapital.com/
http://www.northcountryhospitality.com/
http://www.wisebuysstores.com/
http://www.hackettsonline.com/***NEWWEBSITE***
http://www.1812ale.com/
http://www.abccreativegroup.com/optimized/main.html
http://www.alteribakery.com/
http://www.jrecksubs.com/
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Seaway Valley Capital Corporationmakesequity,equity-related, and debt investments in companiesthatrequireexpansion capital and in companies pursuingacquisitionstrategies.Seaway also seeks investments in leveragedbuyoutsandrestructurings. Seaway will consider investmentopportunities inanumber of different industries, includingretail,restaurants,media, business services, and manufacturing, andSeawaywill alsoconsider select technology investments.
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Shareholder Value
Management is concerned with and focused onincreasingshareholdervalue. The first and requisite step toachieveincreasedshareholder value at Seaway Valley is to firstacquireorinternally develop assets that have or that can createvaluefasterthan and beyond the costs associated withtheiracquisition,development, and growth. Management believesSeawayValley’sfirst two platform acquisitions have providedjustthat. As theholdings generate a history of performance,SeawayValley canutilize lower cost sources of capital versus thoseusedby SeawayValley (and its predecessors) to date. Thesuccessfulclosing ofthe Wells Fargo line of credit is one exampleof that.And as thesecore holdings mature and the capital generatedis inexcess of whatis needed to sustain growth, that excess capitalcanbe used forsuch activities as convertible debenturerepayments,preferredstock repayments, and/or common stockre-purchases. Oncetheunderlying business conditions permit that,management iscommittedto such a plan.
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Hackett's in Discussions for Possible Two New Locations
Tuesday June 3, 10:51 am ET
If consummated, new locations would represent startofexpansionbeyond region
OGDENSBURG, N.Y.--(BUSINESS WIRE)--Seaway ValleyCapitalCorporation(OTC Bulletin Board: SWVC - News) today announcedthatits whollyowned subsidiary, Patrick HackettHardwareCompany(“Hackett’s”), is indiscussionswithrepresentatives for two new possible Hackett’sstores–both outside the seaway valley corridor. If eitherleaseisconsummated, the stores would representHackett’sinitialpush outside the region. Both potentiallocations, whichremainconfidential during discussions, wouldrepresent largestoreformats of between 20,000 and 40,000 squarefoot venues.
Hackett’s (www.hackettsonline.com), one ofthenation’soldest retailers with roots dating back to 1830,is afull linedepartment store specializing in name brandmerchandiseand fullservice hardware. Hackett’s carries brandnameclothing suchas The North Face, Carhartt, Columbia, RoyalRobbins,Patagonia,Horny Toad, Woolrich, Fresh Produce, and Life isGood, aswell asfootwear from Teva, Merrill, Nike, Reef, Born,Dansko,Crocs,Keene, Columbia, Skechers, and Doc Martens.Hackett’salsocarries a variety gift lines from companies suchasWoodstock,Lang, Yankee Candle, Beanpod, Danielson Design, Tag,andDemdaco.Specialty food lines include StonewallKitchens,SouthwestSpecialty Foods, The Well Dressed Food Company,RobertRothchild,Republic of Tea and many other NorthCountryfavorites.Hackett’s full service True Valuehardwaredepartmentfeatures traditional hardware, tools, plumbing,paintandelectrical departments.
Hackett’s recently announced that it will bere-openingtheformer Canton WiseBuys on June 14th and will beopening itstenthlocation in Sackets Harbor, NY with a targetedopeningdatescheduled for June 2008.
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Seaway Valley Capital Corporation Releases Update
Tuesday April 29, 10:01 am ET
GOUVERNEUR, N.Y.--(BUSINESS WIRE)--Seaway ValleyCapitalCorporation(OTCBB:SWVC - News) ( “Seaway Valley”)chairman andchief executive officer, Thomas W. Scozzafava,issuedthe followingupdate to its shareholders today:
Dear Shareholders:
I am pleased to give the following update of the Company.Tofirstreview, Seaway Valley has accomplished thefollowingmajormilestones:
-On July 1, 2007, Seaway Capital, Inc. acquired acontrollingstakein the Company, which immediately began managingthe SeawayValleyFund, LLC. As part of the acquisition of theCompany, Seawayagreedto assume certain legacy debt obligations of“GSCarbonCorporation,” which are now fullysatisfied.
-In October 2007, Seaway Valley acquired one hundredpercentofWiseBuys Stores, Inc. in a stock merger transaction withatotalenterprise value of approximately $6.5 million.TheWiseBuysacquisition brought into Seaway Valley fiveretaillocationstotaling 230,000 square feet of retail space andkeyindustryrelationships with Payless ShoeSource, RadioShack, andKBToys.
-In November 2007, Seaway Valley acquired one hundredpercentofPatrick Hackett Hardware Company in a transaction valuedat$10.2million and subsequently merged the WiseBuysoperationintoHackett’s, creating a nine store chain withassets ofupwardsof $18 million and pro forma revenues of $30-$35million.Sinceacquiring Hackett’s, Seaway ValleyhasreducedHackett’s debt by approximately $3.9 million.
-In March 2008, Seaway Valley assisted Hackett’s insecuringa$5 million inventory based line of credit from WellsFargo.
-In April 2008, Seaway merged North Country Hospitality, Inc.intoawholly owned subsidiary in an all stock transaction valuedat$11.7million, bringing to Seaway Valley additionalassetsofapproximately $13 million and pro forma revenuesofapproximately$6 million.
Seaway Valley has, in fairly short order, acquiredcurrentassetstotaling approximately $30 million and has currentprojectedproforma annualized revenues of $36 - $40 million basedonNorthCountry projected revenues and Hackett’sannualizedrevenuesonce all former WiseBuys stores are converted andoperatefor afull year. Below is a comparison of select reportedfinancialdataof the Company as of December 31, 2007 and June 30,2007, priortocurrent management involvement:
As management continues the task of integrating its twocoreholdingsinto the Company and, to a certain extent, intoeachother, it willalso continue to focus on drivingthecompanies’ respectivegrowth.
Hackett’s
While Hackett’s primary focus is integrating andconvertingtheWiseBuys stores, management shall aggressivelyseekselectopportunities for new store development.Hackett’sistargeting new locations with demographics orshopping patternsthatare consistent with Hackett’s premiumbranded productsandexcellent customer service. Hackett’sflexiblestorefootprints of as small as 15,000 square feet and asmuch as55,000square feet allow the company to consider a muchlarger poolofpotential new sites than the typical retailer.Managementexpectsto secure at least one and possibly two newlocations thisyear.Management will also continue to pursueacquisitions ofselectretailers in and around existingHackett’s storesifmanagement feels the target’soperations can beseamlesslyintegrated into those ofHackett’s. Hackett’srecentlyacquired the Hamilton, NYRadioShack, is in talks with twootherRadioShack owners, and is indiscussions with at least threeothervarious retailers for possibleacquisition or investment. Asstatedby management previously,Hackett’s initial targetedgrowthmilestone is twenty five tothirty stores with aggregaterevenuesof up to $100 million.
North Country Hospitality, Inc.
North Country has a number of fronts on which todrivethecompany’s revenue growth andprofitability.Alteri’sBakery currently has excess productioncapacity thatwould enableit to roughly double its current sales.Securing newcommercialcontracts to drive production while alsopromoting itshighermargin specialty products will be the focus ofmanagementover thecoming months. As the owner of five Jreck Subsfranchises,NorthCountry shall seek to develop or acquireregionallyclusteredlocations of four or five outlets per groupwhere annualsalespotential is between $500,000 and $1,000,000 perstore.Managementis currently in discussions with various partiesforpotentialdevelopment of its most popular proprietaryrestaurantconcepts,Goodfello’s Brick Oven Pizza and Wine Barand The1812Brewpub. The concepts can be co-located or rolledoutseparately,depending on the market of the target area.Finally,marketing thebeer portfolio of the Sackets Harbor BrewingCompanyrepresents asignificant growth opportunity. As theproductsapproach theirmarket potential locally, the company willnow begintoaggressively promote the beer brands beyond the regionandinselect markets nationally. North Countryoriginallytargetedrevenue growth to $30 million on an asset base of$40million by2010.
Additional Acquisitions
Seaway Valley will also continue to evaluate otheracquisitionsandinvestments in industries outside the retail,hospitality,andconsumer products industry.
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LATEST NEWS:
SEAWAY VALLEY IN DISCUSSIONS WITH METRO RESTAURANTFORPOSSIBLEACQUISITION
Management looking to expand restaurant group outsidenorthernNewYork
http://biz.yahoo.com/bw/080606/20080606005401.html?.v=1&printer=1
SACKETS HARBOR BREWING COMPANY FINDING SUCCESS INKEYSYRACUSEMARKET
The Blue Tusk Pub & Wine Bar lists “War of1812AmberAle” as top five poured by volume
http://www.seawaycapital.com/news/News_Release_06_04_08.pdf
HACKETT’S IN DISCUSSIONS FOR POSSIBLETWONEWLOCATIONS
If consummated, new locations would represent startofexpansionout of region
http://www.seawaycapital.com/news/News_Release_06_03_08.pdf
SACKETS HARBOR BREWING COMPANY TO CO-HOST BEERANDWINEFESTIVAL
Sackets Harbor 1812 Beer and Wine Festival ScheduledforSaturdayJune 7th
http://www.seawaycapital.com/news/News_Release_06_02_08.pdf
SEAWAY VALLEY'S WAR OF 1812 AMBER ALE' MOVES INTOORLANDO,FLORIDAMARKET WITH GATORS DOCKSIDE RESTAURANTS(5-30-08):
Sackets Harbor Brewing Company sees Florida marketastremendousopportunity
http://biz.yahoo.com/bw/080530/20080530005373.html?.v=1&printer=1
HACKETT'S SET GRAND OPENING DATE FOR NEWCANTONLOCATION(5-29-08):
Hackett's store to open Saturday, June 14thatUniversityPlaza
http://biz.yahoo.com/bw/080529/20080529005337.html?.v=1&printer=1
SACKETS HARBOR BREWING COMPANY INTRODUCES FLAGSHIPPRODUCTSATMAJOR CHICAGO RESTAURANT SHOW (5-21-08):
"War of 1812 Amber Ale" and "Thousand Islands PaleAle"showcasedat International Wine, Spirits and Beer Event forover1,000hospitality participants
http://biz.yahoo.com/bw/080521/20080521005707.html?.v=1&printer=1
HACKETT'S LAUNCHES UPDATED WEBSITE (5-14-08):
Site includes updated store informationandup-to-minutemerchandise sales and specials
http://biz.yahoo.com/bw/080514/20080514005442.html?.v=1&printer=1
HACKETT'S FORMS BOARD OF ADVISORS (5-14-08):
Founders and Former Ames executive Joe Ettore toleadAdvisoryBoard
http://biz.yahoo.com/bw/080514/20080514005209.html?.v=1&printer=1
HACKETT’S TO OPEN NEW STORE INSACKETSHARBOR(5-13-08):
Mid-June date targeted for opening ofHackett’stenthlocation
http://www.seawaycapital.com/news/News_Release_05-13-08.pdf
SEAWAY VALLEY APPOINTS CHRISTOPHER SWARTZ TO BOARDOFDIRECTORS(5-9-08):
Swartz also joins management team at Seaway Valley
http://www.seawaycapital.com/news/News_Release_05-09-08.pdf
SEAWAY VALLEY ENGAGES FRANSACTION TO EXPLOREBRICK-OVENPIZZAFRANCHISE MODEL (5-8-08):
Economics and menu of Goodfello’smakefranchisingpossibility attractive
http://www.seawaycapital.com/news/News_Release_05-08-08.pdf
HACKETT’S PREPARES TO LAUNCH NEWADVERTISINGCAMPAIGN(5-7-08):
Advertisements to focus primarily onHackett’spremiumclothing, footwear, and gift lines
http://www.seawaycapital.com/news/News_Release_05-07-08.pdf
HACKETT’S ACQUIRES GOUVERNEUR, NEW YORKRADIOSHACKFRANCHISEAND STORE (5-1-08):
Company adds a fourth RadioShack stores toitsportfolio;continues to acquire additional outlets
http://www.seawaycapital.com/news/News_Release_05-01-08.pdf
HACKETT’S PREPARES FOR LAUNCH OFNEWWEBSITE(4-30-08):
Website launch expected in mid-may
http://www.seawaycapital.com/news/News_Release_04-30-08.pdf
SEAWAY VALLEY CAPITAL CORPORATIONRELEASESUPDATE(4-29-08):
http://www.seawaycapital.com/news/News_Release_04-29-08.pdf
NORTH COUNTRY HOSPITALITY EXECUTES PRODUCTPURCHASINGAGREEMENT(4-24-08):
Company looks to reduce costs of purchasingforrestaurantgroup
http://www.seawaycapital.com/news/News_Release_04-24-08.pdf
HACKETT'S ACQUIRES HAMILTON, NEW YORKRADIOSHACKFRANCHISE(4-21-08):
Company adds a third RadioShack store to its portfolio;lookingtoacquire additional outlets
http://www.seawaycapital.com/news/News_Release_04-21-08.pdf
SEAWAY VALLEY CAPITAL AND NORTH COUNTRY HOSPITALITYSTRIKEMERGERDEAL (4-18-2008):
Management to seek benefits from operationalsynergies,crossmarketing and promotional opportunities.
http://www.seawaycapital.com/news/News_Release_04-18-08.pdf
SEAWAY VALLEY CAPITAL GIVES UPDATE ON LEGACYDEBTSTATUS(4/1/08):
Seaway Valley Capital Announces SatisfactionofCertainOutstanding Debentures
http://www.seawaycapital.com/news/News_Release_04-01-08.pdf
SEAWAY VALLEY CAPITAL FORMS REAL ESTATEMANAGEMENTDIVISION(3/25/08):
Seaway Realty to manage Company real estate assets andlooktoacquire or develop other commercial real estateprojects.
http://www.seawaycapital.com/news/News_Release_03-25-08.pdf
HACKETT'S ASSUMES RADIOSHACK FRANCHISES (3/24/08):
Assumes Operations of Former WiseBuys' Tupper LakeandPulaskiRadioShack Franchises
http://www.seawaycapital.com/news/News_Release_03-24-08.pdf
PAYLESS TO REMAIN AT FORMER WISEBUYS STORES (3-19-08):
Hackett's to Offer Branded Alternative Along SidePayless
http://www.seawaycapital.com/news/News_Release_03-19-08.pdf
SEAWAY VALLEY CAPITAL CORPORATIONRELEASESUPDATE(3-17-08):
Shareholder Letter - Wells FargoLOC;ForthcomingAcquisitions
http://www.seawaycapital.com/news/News_Release_03-17-08.pdf
HACKETT'S CLOSES $5 MILLION FINANCINGAGREEMENT(2-22-08):
Funds to be Used for Store Conversions and Expansion
http://www.seawaycapital.com/news/News_Release_02-22-08.pdf
SEAWAY IN DISCUSSIONS WITH SEVERAL COMPANIES FORINVESTMENTORACQUISITION (1-24-08):
Looks to Acquire Companies That BenefitFromPortfolioParticipation
http://www.seawaycapital.com/news/News_Release_01-24-08.pdf
SEAWAY VALLEY EXECUTES TERM SHEET TO ACQUIREHOSPITALITYGROUP(1-18-08):
Assets and Businesses Complementary to SeawayValley'sCurrentHoldings
http://www.seawaycapital.com/news/News_Release_01-18-08.pdf
HACKETT'S ANNUAL SALES RISE 12.5% IN 2007 (1-26-08):
Sales Strength Driven By Apparel and Footwear
http://www.seawaycapital.com/news/News_Release_01-16-08.pdf
HACKETTS RECEIVES $5 MILLION INVENTORY BASEDFINANCINGCOMMITMENT(1-7-08):
Funds to be Used for Debt Repayment, StoreConversionsandExpansion
http://www.seawaycapital.com/news/News_Release_01-07-08.pdf
HACKETTS' DAY-AFTER-THANKSGIVING SALES RESULTSEXCEEDEXPECTATIONS(11-26-07):
"Black Friday" Sales Increase Almost 60% OverPriorYearResults
http://www.seawaycapital.com/news/News_Release_11-26-07.pdf
COMPANY TO POSITION HACKETTS FOR GROWTH AND LOOKTOACQUIREADDITIONAL ASSETS (11-19-2007):
Shareholder Letter - Hacketts' Phase I Goal; SeawayValleyFund;Share Buyback & Dividends
http://www.seawaycapital.com/news/News_Release_11-19-07.pdf
JOE ETTORE AGREES TO JOIN HACKETTS BOARD OF DIRECTORS
Ads Over Forty Years of Retail Experience andLeadershiptoHacketts Board
http://www.seawaycapital.com/news/News_Release_11-16-07.pdf
WISEBUYS COMPLETES HACKETTS ACQUISITION
Process of Company Integration and StoreConversionstoBegin
http://www.seawaycapital.com/news/News_Release_11-09-07.pdf
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During April 2008, Seaway Valley Acquired TheFollowingExpansionHoldings:
-Sackets Harbor Brewing Company develops,produces,andmarkets micro brewed beers such as the awardwinning“1812Amber Ale” and “Railroad RedAle” aswell as“Thousand Island Pale Ale”,“1812 AmberAleLight” and “IndependenceWheat” specialtybeers.Its “1812 Amber Ale” is thecompany’sflagshipbrand and was the winner of a Silver Awardat the 1998World BeerChampionship and has been aggressivelymarketed tocommand asignificant retail presence in the regionalmarketplace.Management estimates 1812 Ale has an approximate15%categorymarket share within its primary distribution areaanddistributeskeg and bottled beer to over 300 locations innorthernNew York.The company has also developed complementaryproducts suchSacketsHarbor Coffee and Sackets Harbor Brewing Co.Root Beer.Managementis now focused on positioning the 1812 brandportfoliofor growthoutside the region.
-Sackets Harbor Brew Pub is an operating “BrewPub"thatproduces its own specialty beer on site while alsoofferingfinedining. The Brew Pub offers six of its own brews ontapincludingeach of its regionally sold beers such as 1812Ale,Railroad Red, andThousand Island Pale Ale as well as everchangingseasonal offerings.The Brew Pub restaurant represents thedualopportunity to expandthis profitable concept through newlocationswith the additionalbenefit of further buildingthe“1812” brand beers.
-Goodfello’s Brick Oven Pizza and Wine Barisfeaturedin charming interior of brick and wood andspecializesinexcellent-yet-affordable Italian food. The focal pointoftherestaurant is its large brick oven for cookingpizza,appetizersand special pasta entrees along a comfortable barthatoffers awide variety of wine and beer including SacketsHarborBrewingCompany selections. Goodfello’s warmthandintimateatmosphere offers a unique setting rarely found inthemarketplacefor neighborhood Italian eateries, and managementiscurrentlyevaluating several opportunities to expand thechain.
-Sackets Cantina Sackets offers a traditionalMexicanmenufeaturing the usual favorites as well asmanyexcellentMexican-inspired creations. The restaurant is set inacompletelyremodeled historic building expressing the brightcolorsandambiance of Old Mexico and enhanced by a copper coveredbarthatoffers varieties of Mexican beers and tequilas.TheCantina’ssignature dish is the “Molcajete”whichis seldom seenin American Mexican restaurants. This andothercreative disheshave positioned the Cantina as unique Mexicandiningnotexperienced at most other multi-unit restaurants.
-Jreck Subs Franchises ( http://www.jrecksubs.com)NorthCountry now owns and operates five Jreck Subsfranchiselocationsin northern and central New York includingWatertown,Clayton, CapeVincent, Alexandra Bay, and Liverpool. TheJreck SubsCompany wasstarted in 1967 by five local entrepreneurs,and sincethen, JreckSubs has grown to over forty-seven locations innorthernandcentral New York. The Jreck Subs concept is qualityfoodsatmoderate prices. Jreck Subs have a variety of hot andcoldsandwichchoices, homemade style soups, and a children’smenu.Thecompany will seek to develop or acquire additionalJreckfranchisesmoving forward. (The Jreck Subs franchise chain isownedandoperated by an entity owned by Christopher Swartz.)
-Alteri’s Bakery ( http://www.alteribakery.com)hasserviced the north country region with quality bakedgoodssince1971, when Querino and Ida Jane Alteri purchased thebakery,whichis still operated by the founders’ son,Mark.Alteri’sis now located in a state of the art bakingfacilityin the heartof Watertown’s business district, and isone ofthe lasttraditional Italian bakeries in the area. Alteri'sbringsfourgenerations of baking experience and over 80 yearsofservingnorthern N.Y. with the finest "true" Italian breadsandspecialtypastry items, such as cakes, cookies, muffins,bagels,andspecialty gift baskets. Alteri’s products can befoundatlocal restaurants, grocery stores, schools, and its ownstore.Inaddition, Alteri’s recently assumed the productionofsubrolls for the entire Jreck Subs franchise chain of47locations,which alone includes approximately two millionfivehundredthousand rolls baked and shipped annually.
-Various Real Estate Assets are under developmentforfuturerestaurants or retail outlets.
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WISEBUYS STORES, INC. EXECUTES AGREEMENTTOACQUIREHACKETTS
Friday July 20, 9:38 am ET
WiseBuys agrees to acquire one of nation's oldestretailers;thecombined company will operate stores as "Hacketts"
NEW YORK--(BUSINESS WIRE)--WiseBuys Stores,Inc.("WiseBuys")announced today that it has executed an agreementwithits ownersto acquire 100% of the stock of Patrick HackettHardwareCompany("Hacketts"). Hacketts, which is one of thenation'soldestretailers, currently has stores in New York State inthevillagesof Canton, Ogdensburg, Massena, Potsdam, andWatertown.WiseBuyscurrent locations include Canton, Gouverneur,Hamilton,Pulaski,and Tupper Lake - all also in New York State.
"We are pleased to announce this agreement toacquireHacketts,"stated Thomas Scozzafava, a co-founder of WiseBuysandcurrent CFO."WiseBuys and Hacketts combining into one entityisstrategic for anumber of reasons, including the sharingofmanagerial resources,increasing purchasing power,leveragingcurrent advertisingspending, and diversifying thecombinedcompany's merchandise mix.We anticipate taking the bestfrom bothcompanies and combiningthose qualities under one roofunder thestore brand 'Hacketts',"Mr. Scozzafava added.
The acquisition, which calls for a $1.5 million paymentatclosingand additional payments of $4.5 million over eightyears,includesmanagement agreements for the retention of thefoundingfamilymembers as well as Hacketts current CEO.
About Hackett's:
Hackett's is one of the oldest retail establishments inNewYorkState and the Nation. Its origins date back to 1830 when itwasaships chandlery, wholesale supplier and atraditionalhardwarestore. During its evolution, it would alsobecome asupplier ofrailroad equipment, builders and contractors'supplies,plumbingsupplies, steam fitting, tinsmithing, and alargefoundrymanufacturing many lines of metal plumbing items thatyoustillfind in existence today. Over the years, the companyhasadapted tochanging market conditions and evolved into a fulllinedepartmentstore focused on premium clothing, footwear, andgiftitems andtoday consists of five (5) locations:
(i) Ogdensburg, NY (55,000 sq. ft.) - full line departmentstorealsofeaturing a coffee shop serving breakfast andlunchgourmetspecialties called North Water Street CoffeeCompany;
(ii) Potsdam, NY (41,000 sq. ft.) - a recently-opened(2004)fullline department store;
(iii) Watertown, NY (56,000 sq. ft.) - newly-opened (4thQtr'06)full line department store;
(iv) Massena, NY (12,700 sq. ft) - Hackett's only mall location
opened in late 1999 with a focused selection ofpremiumclothing,footwear, and gifts;
(v) Canton, NY - a full line footwear department, apparel formenandwomen, and a sporting goods department; (this would beclosedand thebuilding sold or leased and operations movedtoWiseBuys.)
Hackett's has an outstanding reputation within the industryasacustomer service-focused organization selling premium productsatafair price - both of which differentiate it from "discount"bigboxretailers.
About WiseBuys:
WiseBuys Stores, Inc. ("WiseBuys") was formed and beganoperationsin2003 as a direct result of the closing of small-townretailstaple,Ames Department Stores. Founded primarily bylifelong"north country"residents, WiseBuys initially focused itseffortson serving the"discount" retail needs of mostly ruralcommunitiesthroughoutnorthern and central New York.
WiseBuys' strategy included an innovative approachwherebyitpartnered with established and successful specialtydiscounterstocreate a "mall without the walls" concept. Thisinnovativeapproachmade easier to expand rapidly (five stores inthirteenmonths)because less capital was required for inventory,andpartneringwith niche players made immediately competitiveacrosscertainproduct lines. That is, although WiseBuys has onlyfivestores, itspricing reflected the established purchasing powerofPayless, KBToys, etc. And from the customers' perspective,WiseBuyshadcreated a full line department store virtually overnight.Theconcept was embraced by large, well-established retailersandwasheralded in the industry. The followingin-storeretailpartnerships with both national and regionalchainswereestablished:
Payless ShoeSource, Inc. - "store-within-a-store"dealacrosschain
KB Toys Inc. - exclusive license agreement "KB ToysatWiseBuys"branded department
RadioShack - franchise acquisitions
Card$mart, Inc. - franchise acquisitions
Home Fashion Distributor, Inc. - consignment inventorydealfordomestics
Masters, Inc. - leased department deal forapparel(consignmentinventory)
Massey's Furniture Barn, Inc. - consignment inventorydealforfurniture & mattresses
In addition, WiseBuys won such awards as the "New YorkStateSmallBusiness Development Center Excellence Award" (April '04)andthe"Oswego County Job Creation Award" (June '04).WiseBuyscurrentstores include the following:
(i) Canton, NY (40,000 sq. ft.) - full line department store;
(ii) Gouverneur, NY (53,000 sq. ft.) - fulllinedepartmentstore;
(iii) Hamilton, NY (43,000 sq. ft.) - full linedepartmentstore;
(iv) Pulaski, NY (59,000 sq. ft) - full linedepartmentstore;and
(v) Tupper Lake, NY (34,000 sq. ft.) - fulllinedepartmentstore.
The acquisition of Hacketts by WiseBuys is subjecttofinancingarrangements by WiseBuys. Recently, GS Carbonannouncedanagreement to acquire about 60% of the voting stockofWiseBuysStores, Inc., and is seeking to acquire additionalsharesofWiseBuys. Both WiseBuys and Hacketts will be subjecttocompletedaudited financials. WiseBuys recentlyengagedSyracuse-basedaccounting firm Dannible & McKee,LLP(www.dmcpas.com) tocomplete these audits.
HACKETTS:
http://www.hackettsonline.com
Hacketts Advertising: http://northcountrynow.com/explore-nny/education/default.asp
Hacketts is one of the oldest retail establishments in NewYorkStateand the Nation. Its origins go back to 1830 when it wasashipschandelry, wholesale supplier and a traditionalhardwarestore.During its evolution, it would also become asupplier ofrailroadequipment, builders and contractors supplies,plumbingsupplies,steam fitting, tinsmithing, and a largefoundrymanufacturing manylines of metal plumbing items which youstillfind in existencetoday. Over the years, the company hasadapted tochanging marketconditions and evolved into what we aretoday.
Hacketts today consists of three locations. The storeat1223Pickering Street in Ogdensburg, New York is a 55,000squarefootdepartment store featuring all of thetraditionalhardware,plumbing, and electrical departments, plus afull lineclothingdepartment for men, women, and children, afootweardepartment withover forty lines of shoes available, agiftdepartment with manyunique and unusual items, a large seasonalareathat representsmerchandise from around the world,astate-of-the-art paintdepartment, accessory and homedécordepartment, a qualitybrand sporting goods department,an automotivesection featuringNASCAR collector items, a seasonaloutdoor livingarea featuringpatio furniture, lawn décor andfountains,lawn and gardengoods, outdoor cooking area, a full linepowerequipmentdepartment, equipment rental business, and, finally,acoffee shopserving breakfast and lunch gourmet specialtiescalledNorth WaterStreet Coffee Company. Our second location, intheCanton Plaza onMiner Street in Canton, New York, features afullline footweardepartment, apparel for men and women, and asportinggoodsdepartment. Lastly, our Massena location is ourlatestaddition.Here you can find a wide selection of clothing,footwearand uniquegift ideas.
We also offer many other services to compliment yourexperienceatHackett's. In our paint department, we offercomputerizedcolormatching so no matter what you need to match, wecan do it.Inhardware, we make keys, sharpen knives, repair windowsandscreens,and cut glass. In our power place, we repair smallenginesandbicycles. In our gift department, we have a bridalregistry,andgift basket service. In our footwear department, if wedon'thaveyour exact size, we will special order. And finally,whenyourselections are complete, we can gift wrap yourselections,offeryou a merchandise gift certificate for what youcouldn'tfind,charge your purchases on your charge card or openaHackett'scharge for future convenience, and sincerely thank youforyoursale.
With all this, and 100 dedicated employees to help makeyourvisitworthwhile, make sure to include our stores in yournextshoppingtrip.
WISEBUYS:
http://www.wisebuysstores.com/
WiseBuys' goal is to add another 30-40 stores over athreeyearperiod and achieve annual revenues of about $120million.JoeLaChausse, WiseBuys' CEO stated, "We feel this criticalmassisattainable given the current supply of relatively lowcostretailspace in rural America. Our initial geographic presencewithbe NewYork, Pennsylvania, Vermont, Massachusetts,andConnecticut."WiseBuys' current stores -- all in New York State-include Canton,Gouverneur, Hamilton, Pulaski, and Tupper Lake.
WISEBUYS FOUNDERS AND MANAGEMENT:
From left to right: Dierdre "Dede" K. Scozzafava, JosephR.Ettore,Joseph G. LaChausse, Thomas W. Scozzafava
Thomas W. Scozzafava, Founder and Chief FinancialOfficer
Mr. Scozzafava has over 15 years experience in venturecapitalandbuyout investing and has extensive capital marketsexperience.In2002, Mr. Scozzafava founded Seaway Capital Partners,LLC,aninvestment company that, among other activities,foundedandfinanced WiseBuys Stores, Inc. Prior to founding his ownfirm,Mr.Scozzafava was a Director of Prudential's MerchantBankingGroupwhere he helped find, evaluate, negotiate, andstructureleveragedbuyouts and investments of companies inindustries thatincludedtelecommunications, media, businessservices, andmanufacturingindustries. Mr. Scozzafava also held aseniormanagement positionat Prudential's employee limitedpartnershipswhere he completednumerous venture capital and LBOinvestments.Prior to joiningPrudential, Mr. Scozzafava was memberof LehmanBrothers' MerchantBanking Group, where he analyzedleveraged buyoutand growth equityinvestments across variousindustries. Mr.Scozzafava began hiscareer with GE CapitalCorporation, where hecompleted thecompany's Financial ManagementProgram.
In March 2006, New York State Governor George E. PatakiappointedMr.Scozzafava to the Board of Trustees to the New YorkStatePowerAuthority ("NYPA"). Mr. Scozzafava also sits on theGovernanceandAudit Committees of NYPA, whose mission is toprovideclean,economical and reliable energy while promotingenergyefficiencyand innovation. NYPA had revenues of over $2.5billion in2005.
Mr. Scozzafava received a Bachelor of Arts cumlaudewithconcentrations in economics and mathematics withHonorsdistinctionfrom Hamilton College in 1992. In 1990, Mr.Scozzafavawas invitedto join Omicron Delta Epsilon, theinternationaleconomics honorsociety for achievement in the study ofeconomicsand also won theCharles A. Dana Prize Scholarship for"academicachievement,character, and leadership." While at Hamiltonhe alsoplayedVarsity Football, JV Basketball and was a member ofthe AlphaDeltaPhi fraternity. Also during college, Mr.Scozzafavacompletedfinancial market internships at Tucker Anthonyand MerrillLynch inNew York City.
Subsequent to graduating, Mr. Scozzafava completedGeneralElectric'sFinancial Management Program and has completedadvancedfinancecourses at Clarkson University (Potsdam, NY) and attheUniversity ofCalifornia Berkeley (Berkeley, CA). Mr.Scozzafavaacquired hisNational Association of Securities Dealers("NASD")Series 7 andSeries 63 licenses in 1997. Mr. Scozzafava wasalso aboard member ofThermo Electric Wire and Cable LLC, aNewJersey-based specialtymanufacturer. Mr. Scozzafavacurrentlyresides in New York, NY
Joseph R. Ettore, Founder and Chairman of the Board
Mr. Ettore is a highly-respected business executive with 40yearsofmass retail experience. He is a skilled strategist withtheprovenvision and demonstrated tenacity to leadcompaniesthroughchallenging, highly competitive environments. Heisenergetic,detail oriented, hands-on executive who is atalentedteam-builderwho inspires dedication, enthusiasm andloyalty.
Under Mr. Ettore's leadership since June 1994, Amesexperiencedasuccessful merchandising turnaround and continuedimprovementinoperating performance. A major innovation underMr.Ettore'sdirection was the implementation of the 55 GoldSavingsCard, aunique program offering special discounts forcustomers 55andolder. The popular 55 Gold Savings Card Program wasa majorreasonAmes received the 1999 Discount Store News award,DiscountersinService to the Community (DISC). The DISCAwardrecognizesinnovative community service efforts bymassmerchandisers andspecialty stores.
Mr. Ettore's leadership qualities are well recognized byhispeers,who elected him Chairman of the InternationalMassRetailAssociation (IMRA) in 1995, re-elected him in 1997 andagainin1999 to an unprecedented third term. IMRA, theleadingindustrytrade group, represents suppliers, vendors and 210massretailerswhich include discount department stores, warehouseclubsandcatalog showrooms.
Prior to Ames, Mr. Ettore served as President andChiefExecutiveOfficer of Jamesway Corporation and StuartsDepartmentStores, Inc.Mr. Ettore has held various senior positionswithJamesway, KingsDepartment Stores, and Unishops, Inc.
Mr. Ettore has been involved with a wide rangeofcharities,including the American Heart Association, the MarchofDimes, theMuscular Dystrophy Association, the United Way, theHolein theWall Gang Camp for children with cancer, and the JimmyFund.Hereceived the Humanitarian Award of theHousewaresCharityFoundation. Mr. Ettore has also been honoredbyvariousorganizations, including the Cardinal Cushing SchoolandTrainingCenter and the Valerie Fund (which supports cancercareforchildren). Mr Ettore received his Bachelor of SciencefromSt.Peters College, Jersey City, New Jersey in 1961.
Joseph G. LaChausse, Founder and ChiefExecutiveOfficerJoseph G. LaChausse is a North Country nativewho has 30years ofextensive retail management and operationsexperience inbothNorthern New York and Ohio.
Prior to co-founding WiseBuys in 2003, Mr. LaChausse wasaseniorGeneral Manager with B.J.'s Wholesale Club, Inc. (NYSE:"BJ")inCleveland, Ohio, where for nine years he had beeninstrumentalinthe company's expansion into major Mid-Westernmarkets.Mr.LaChausse oversaw and managed the construction ofseveralB.J.'sstores from ground breaking to grand opening. Inone24-monthperiod, Mr. LaChausse personally opened three locationsandtrainedthe management teams for five others. In one instance,heset thecompany record of "bulldozer to open door" in justsixtydays. Healso opened the company's first 70,000 sq. ft.prototype("smallbox") club in Western New York.
In 1996, Mr. LaChausse was honored by B.J.'s withitscompany-wide"Manager of the Year" award. His stores havebeenconsistentlysuccessful, with sales volumes ranging from $25millionto $30million per year. In addition, he has beendirectlyresponsible forsales budgets and projections formulti-unitoperations.
Prior to B.J.'s, Mr. LaChausse was a General ManagerwithP&CFoods, a division of The Penn Traffic Company(NASDAQ:"PNFT").After joining P&C as a teenager, he quicklybecame oneof thecompany's youngest managers at age 22. Furtherrecognition ofMr.LaChausse's managerial and operational skills ledtohisdesignation as P&C's "turn around" specialist. In anefforttoimprove upon the poor operating results of numerousP&Cstores,Mr. LaChausse was rotated to eleven separate marketswherehesuccessfully created profitable contributors ofstoresthatpreviously had been producing negative cash flow andlosses. Hewasrecognized for tight expense control andminimizing"shrink"exposure, and in one location, Mr. LaChausse'sefforts ledto anincrease of profits of over 110% to $1,300,000 injust 36months.He was also recognized for developing a programthatgeneratedcompany-wide profits of over $1,000,000 per year tohelpoffset"bad check" exposure for the organization.
While with P&C, Mr. LaChausse worked and lived invariousNorthCountry communities, including Lowville,Massena,Ogdensburg,Watertown, Gouverneur, Potsdam, Plattsburgh,Herkimer,Syracuse,and Skaneateles.
Dierdre "Dede" K. Scozzafava, Founder
Before founding WiseBuys Stores, Inc., Ms. Scozzafavawasaninvestment advisor with Tucker Anthony, Inc. in Watertown,NY(nowRBC Dain Rauscher). For over twenty (20) years,Ms.Scozzafavaadvised both institutions and individuals on abroadrange ofinvestment strategies. During this period, Ms.Scozzafavaalsoconducted numerous seminars for variousorganizationsandcorporations on topics ranging from devisingandadministratingretirement plans to investment basics andestateplanning foremployees.
Ms. Scozzafava maintained Series 7, Series 6, Series 63,andHealth,Life & Disability Insurance licenses as well asbeingregisteredin foreign currency transactions.
In November 2006, Ms. Scozzafava was elected to herfifthconsecutiveterm in the New York State Assembly, District 122.Shehas beenappointed to serve on numerous AssemblyStandingCommittees includingEconomic Development, Job Creation,Commerceand Industry; Codes;Education; Social Services; Ethics;LocalGovernments; and iscurrently the Ranking Minority MemberonTransportation. Ms.Scozzafava also participated in theLegislativeHearings on theEconomic Impact of the 9/11 TerroristsAttack aswell a LegislativeHearing on the Upstate Economy. Shealso servedon the Task Force onEducation Standards and the NursingShortageTask Force.
Prior to her election to the New York State Assembly,Ms.Scozzafavawas elected to serve three consecutive terms as MayorofGouverneur,NY. Prior to serving as Mayor, Ms. Scozzafavaservedtwo consecutiveterms as Trustee for the Village ofGouverneur. AsMayor, Ms.Scozzafava led the village from aninherited budgetdeficit to apositive fund balance while alsocreating theGouverneur AreaMicroenterprise Revolving Loan Fund tohelp spurlocal job growth.Other important accomplishments, whichincludedsetting up a naturalgas utility for village residentsandupgrading the village waterplant, resulted in Ms.Scozzafavareceiving the New York StateConference of Mayors'Award.
Ms. Scozzafava earned a Bachelor of Science degree fromtheBostonUniversity School of Management and a MastersinBusinessAdministration from the Clarkson University GraduateSchoolofManagement.
Ms. Scozzafava also instructed college business coursesinvariousareas including accounting, corporate finance,management,businesslaw, and economics at Jefferson CommunityCollege (Watertown, NY)and Mater Dei College ( Gouverneur &Ogdensburg,NY).
Ms. Scozzafava currently resides in Gouverneur, NY withherhusbandand their two children.
WISEBUYS PARTNERS:
Payless ShoeSource, Inc., together withitssubsidiaries,operates as a specialty family footwear retailerinthe westernHemisphere. Its stores offer athletic, casual, anddressshoes;sandals; work and fashion boots; slippers; andaccessories,such ashandbags and hosiery for women, men, andchildren. Thecompany alsowholesale footwear. In addition, itoperates a shoedyeingfacility. Payless ShoeSource operates itsstores in variousrealestate formats, including shopping malls,centralbusinessdistricts, free-standing buildings, strip centers,andleaseddepartments within other retailers.
K•B Toys (previously known as Kay Bee Toys) is achainofmall-based retail toy stores in the United States. Itwasfounded in1922 by the Kaufman brothers. It currently operates605stores in 44U.S. states, Puerto Rico as well as Guam.K•BToys operatesthree distinct store formats: K•B Toys,K•BToy Works, andK•B Toy Outlets (aka Toy Liquidators).It isprivately held inPittsfield, Massachusetts.
RadioShack Corporation is a leading retailerofconsumerelectronic goods and services, through its RadioShackstorechainand non-RadioShack branded kiosk operations in theUnitedStates.Its products include wireless telephones andcommunicationdevices,such as scanners and two-way radios; flatpaneltelevisions,residential telephones, DVD players, computers,anddirect-to-home(DTH) satellite systems; homeentertainment,wireless, imaging, andcomputer accessories; generaland specialpurpose batteries; wire,cable, and connectivityproducts; anddigital cameras,radio-controlled cars and other toys,satelliteradios, and memoryplayers. The company also providesconsumersaccess to third-partyservices, such as wireless telephoneand DTHsatellite activation,satellite radio service, prepaidwirelessairtime, and extendedservice plans. It also manufacturesvariousproducts, includingtelephony, antennas, wire, and cableproducts,as well ashard-to-find parts and accessories forconsumerelectronicsproducts. As of December 31, 2006, the companyoperated4,467RadioShack company-operated stores located in theUnitedStates, aswell as in Puerto Rico and the U.S. Virgin Islands;772kioskslocated in the United States; 7 RadioShack service centersintheUnited States and 1 in Puerto Rico; and a networkof1,587RadioShack dealer outlets. RadioShack was founded in 1899andisheadquartered in Fort Worth, Texas.
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SWVC HAS MERGED WITH THE FOLLOWING COMPANY:
http://www.northcountryhospitality.com
North Country Hospitality is a multi-levelRestaurant&Hospitality company. NCH is a blend of finediningestablishments,casual and wine bar restaurants, Mexicancuisinedining andfranchised fast food restaurants, luxuryhotelaccommodations andone of the largest commercial bakeries inupstateNew York.
-Click the following link to view a corporate presentationfromJune2006: http://www.northcountryhospitality.com/NorthCountryPresentation.pdf
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THE NORTH COUNTRY STRATEGIC PROGRAM:
North Country Hospitality brings an enhanced levelofmanagement,marketing, accounting and legal expertise toitsholdings. Ourexperience in the hospitality industry increaseseachoperation'sefficiency and maximizes asset profitability,helpinginsure thateach North Country affiliate is a dependablecontributorto thecompany's revenues and balance sheet.
Services Provided by North Country To Our Affiliates Include:
-Accounting and Independent Auditing
-Franchise Expansion Programs
-Corporate Legal Functions
-Marketing and Brand Management
-National Purchasing Co-Op
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NORTH COUNTRY'S LEADERSHIP TEAM:
Principals in North Country HospitalityEnterprisesincluderestaurant owners, managers and chefs with over45 yearsofcombined experience. In addition the commercial bakeryhasbeenoperating for over ten years. Master bakers andbakerymanagershave over 50 years of combined experience.
Christopher Swartz is Chief Executive Officer andChairmanofNorth Country Hospitality Inc. Mr. Swartz has been thepresidentofpublicly traded companies specializing in restaurantsandrestaurantchain acquisitions for over 10 years.
Gary Baker is Chief Operating Officer ofNorthCountryHospitality. Mr. Baker has managed industrial plantsandbakeriessince the early 1970's. His vast understanding oftherequirementsfor delivering premium and 'fresh-daily'bakeryproducts hasstreamlined Brown Bag Bakery into a successful,andgrowth orientedbusiness.
Stephen Flynn, Senior Vice President of Distributionhasownedand managed the Sackets Harbor Brewing Company,SacketsHarbor BrewPub, Good Fellos Restaurant and the SacketsCantina forover 10years.
Errol Flynn has also been a minority owner in.SacketsHarborBrewing Company, Sackets Harbor Brew Pub, GoodFellosRestaurant andthe Sackets Cantina for over 10 years. Mr.Flynn'sdetailedexperience in managing multi-million dollarcorporateenterpriseshelps guide North Country's course for growthandcontinuedprofitability.
Michael Kilburn, Director of Finance, hasoverseenthefinances of restaurants and multi-unit concepts since1996.
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RETAIL PRODUCTS:
Sackets Harbor Brewing Company develops, produces,andmarketsmicro brewed beers such as the award winning "1812AmberAle" and"Railroad Red Ale" as well as "Thousand Island PaleAle","1812 AmberAle Light" and "Independence Wheat" specialtybeers.Its "1812 AmberAle" is the company's flagship brand and wasthewinner of a SilverAward at the 1998 World Beer Championshipandhas been aggressivelymarketed to command a significantretailpresence in the regionalmarket place. Management estimates1812Ale has an approximate 15%category market share within itsprimarydistribution area anddistributes keg and bottled beer toover 300locations in northernNew York. The company has alsodevelopedcomplementary products suchSackets Harbor Coffee andSacketsHarbor Brewing Co. Root Beer.Management is now focusedonpositioning the 1812 brand portfoliofor growth outsidetheregion.
Sackets Harbor Brew Pub is an operating "BrewPub"thatproduces its own specialty beer on site while alsoofferingfinedining. The Brew Pub offers six of its own brews ontapincludingeach of its regionally sold beers such as 1812Ale,Railroad Red,and Thousand Island Pale Ale as well as everchangingseasonalofferings. The Brew Pub restaurant representsthedualopportunity to expand this profitable concept throughnewlocationswith the additional benefit of further building the"1812"brandbeers.
The Sackets Harbor Brew Pub is not anordinarybar/restaurant.It is a operating "brewpub", that producesits ownbeer and arestaurant offering fine dining. The pub offers 6of itsown brews ontap that includes their regionally sold beers,1812Ale and ThousandIsland Pale Ale as well as ever changingseasonalofferings. Thechef, Karin Cornish, has used her awardwinningtalents to match thefood menu to the beer menu.
The brewery/restaurant is located in a refurbished railwaystationofthe now defunct New York Central Railroad located on theedge oftheharbor, near docks and marinas that offer excellentaccess toLakeOntario. The dining room boasts an expansive view ofthe lakewithincredible sunsets. They offer excellent food in acasualdiningatmosphere.
The award winning beers include the War of 1812 Ale, whichwontheSilver Medal in the 1998 World Beer Championships. Thepubsellsbottled beer and draft to hundreds of bars, restaurantandretailstores in the North Country and Central New York where1812Ale andThousand Islands Pale Ale are distributed by DoldoBrothersandSheehan Distributors.
Video about the Brewery and Production:
http://www.northcountryhospitality.com/SYRPALEALEFOLO-PKG(1).wmv
Sackets Harbor Brewing Company Beers:
1812 Ale Amber: 5.2%/v Awarded a Silver Medal intheWorldBeer Championships in the Amber Ale category for 1998, thisisourflagship ale. It has a nutty malt flavor which is balancedbyacitris hop flavor and a classic ale fruitiness. Wedistributethisale on draft and in bottles throughout Northern &CentralNewYork.
1812 Ale Light: 5.2%/v A German style kolsch lightbeerforlighter beer fans. It has a crisp flavor and is easy todrink.Weplan to offer 1812 Light in bottles and kegsfornationaldistribution later in the year.
Railroad Red Ale: 5.0%/v Railroad Red Ale was alsoaSilverMedalist in the 1998 World Beer Championships, in theIrishAlecategory. Our Railroad Red is a favorite among SacketsHarborbeeraficionados. Railroad Red Ale has a deep garnet color,witharoasty chocolate flavor. A blend of four different hopsgivesthisale a perfect balance.
Independence Wheat: 5.3%/v This great wheat beer soontobereleased in bottles and kegs is an unfiltered Belgianstyledwitbeer brewed with Belgian malt and wheat and spicedwithcorianderand orange peel with a touch of noble hops. Andy ourbrewmasteralso adds a secret spice for a smooth, easydrinkingbeer.
Scotchtoberfest: 7.5%v A full bodied ale, rich malty,andbigand smooth.
Battlefield Brown: 6.3%/v A full bodied English brownalebigand malty
SHBC Root Beer: A beer the whole family can enjoy isarichtime-honored root beer made here in Sackets Harbor and oneofourfavorite soft drinks.
St. Stephens Nitro Stout: 5.0%/v This is a realwinterwarmer.A medium bodied Stout, rich with hints of chocolateandcoffee. We'llmatch this tasty nitrogenated St. Stephens StoutwithGuinness anytime!
Sackets Dubble: 7.3%v A medium bodied amberBelgianale,malty, spicy and smooth.
Where is Sackets Harbor beer sold? http://www.1812ale.com/SHBC-dealer-list.pdf
Sackets Harbor Brewing Company
212 West Main Street • Sackets Harbor, New York 13685
Phone (315)646-BREW • Fax (315)646-2752
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Good Fellos Brick Oven Pizza & Wine Bar
Goodfello's Brick Oven Pizza and Wine Bar is featuredincharminginterior of brick and wood andspecializesinexcellent-yet-affordable Italian food. The focal pointoftherestaurant is its large brick oven for cookingpizza,appetizersand special pasta entrees along a comfortable barthatoffers awide variety of wine and beer including SacketsHarborBrewingCompany selections. Goodfello's warmth andintimateatmosphereoffers a unique setting rarely found in themarketplaceforneighborhood Italian eateries, and managementiscurrentlyevaluating several opportunities to expandthechain.
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North Country Hospitality Owns Two RetailandCommercialBakeries:
Alteri's Bakery ( http://www.alteribakery.com)hasserviced the north country region with quality bakedgoodssince1971, when Querino and Ida Jane Alteri purchased thebakery,whichis still operated by the founders' son, Mark. Alteri'sisnowlocated in a state of the art baking facility in theheartofWatertown's business district, and is one of thelasttraditionalItalian bakeries in the area. Alteri's bringsfourgenerations ofbaking experience and over 80 years ofservingnorthern N.Y. withthe finest "true" Italian breads andspecialtypastry items, suchas cakes, cookies, muffins, bagels, andspecialtygift baskets.Alteri's products can be found at localrestaurants,grocerystores, schools, and its own store. In addition,Alteri'srecentlyassumed the production of sub rolls for the entireJreckSubsfranchise chain of 47 locations, which aloneincludesapproximatelytwo million five hundred thousand rolls bakedandshippedannually.
Brown Bag Bakery is a 20,000 sq. ft. facilityservingtheentire North Country marketplace on a daily basis.LocatedinWatertown, NY, Brown Bag Bakery is only 6 miles fromFortDrum,home of the 10th Mountain Divison. Brown Bag Bakeryhasexclusivecontracts to provide baked goods to many locations onthemilitarybase. The facility also produces all bread productsforJRECK SubShops.
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Investor Relations:
Gary Nash
CEOcast, Inc.
Phone: 212-732-4300
Standard Transfer Agent: 1-801-266-7151
Updated July 3, 2008
OS: 1,677,801,498
FL: 1,620,254,614
RE: 57,546,884
Complete Details of Share Structure:
http://investorshub.advfn.com/boards/read_msg.asp?message_id=28677229
NEWS/FILINGS: http://finance.yahoo.com/q?s=SWVC.OB
