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SED extends stock repurchase programme
Sep. 24, 2010 (M2 Communications Ltd.) --
SED International Holdings Inc (OTCBB:SECX), a supply chain management provider and a distributor of computer technology, consumer electronics, small appliances and cellular products, announced today that its board of directors has reserved an additional USD 150,000 for repurchases under the company’s stock repurchase programme.
The company said that the stock repurchase programme allows it to repurchase shares of its common stock in the open market or in individually negotiated transactions and reflects its ongoing commitment to increase shareholder value.
The extension of the programme brings the aggregate amount authorised by the board of directors for repurchases of its common stock to USD 350,000. The programme commenced in August 2009 and as of 30 June this year the company had repurchased a total of 51,608 shares of its common stock at an average per-share cost of USD 2.36.
The programme does not obligate the company to acquire any specific number of shares and may be suspended or terminated by the board of directors at any time. Funding for the programme comes from the company’s working capital and repurchase shares will be retired and restored to the status of authorised and unissued shares, or added to Treasury shares.
The closing price per share of the company’s common stock as of 22 September was USD 2.68.
(Comments on this story may be sent to tww.feedback@m2.com)
Source: M2 Presswire (September 24, 2010 - 7:40 AM EDT)
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Receivable Acquisition & Management Corporation Issues Special Letter To Shareholders
Sep. 24, 2010 (PR Newswire) --
FORT LEE, N.J., Sept. 24 /PRNewswire/ -- Receivable Acquisition and Management Corp (OTC Bulletin Board: RCVA), today sent a letter from CEO, Max Khan to shareholders detailing the new direction the Company plans on taking in the Health Information Technology industry which is expected to be a $53 Billion industry by 2014. The following is a copy of the shareholder letter:
Dear Shareholders:
We began investing in distressed consumer debt in 2004, but we had difficulty to scale up to desired levels due to an extraordinary increase in prices paid for this type of consumer debt. This was followed by the massive credit crunch and deep recession. The prices have normalized but credit is still not available and unemployment remains very high. However, we have continued to operate and maintain a stable cash balance so we can capitalize on new business opportunities.
I am pleased to report to you that over the past several months we have been analyzing specific sectors of the economy that are likely to experience explosive growth over the next several years. We believe that the healthcare vertical of the information technology sector represents an enormous opportunity. Healthcare remains the most underserved and Healthcare Information Technology is estimated to grow to $53 billion by 2014; growing at a compounded annual growth of 14%. Large part of the impetus is coming from the American Recovery and Reinvestment Act of 2009 (ARRA 2009) which includes the Health Information Technology for Economic and Clinical Health Act, also known as HITECH. HITECH has allocated $19 billion to hospitals and physicians who demonstrate Meaningful Use of Electronic Medical Records. This law also requires the use of Electronic Healthcare Records (EHR) Systems by 2015. Considering only 4% of the 788,000 physicians in the United States currently have fully functional EHR systems and only 13% have limited access, this represents a tremendous opportunity for companies providing EMR & EHR systems and related services.
We are in the process of negotiating a takeover of a company in this field and plan to announce in the next few weeks. This new direction is only the beginning. We have a comprehensive acquisition strategy in place for the next 24-36 months. By positioning itself in this market, we believe we can create significant shareholder value.
You will be hearing from us shortly.
Thank You,
Max A. Khan
Chief Executive Officer
Safe Harbor Statement
Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this press release as they reflect Receivable Acquisition & Management Corp's current expectations with respect to future events and are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated. Potential risks and uncertainties include, but are not limited to, the risks described in Receivable Acquisition & Management Corp's filings with the Securities and Exchange Commission. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release.
SOURCE Receivable Acquisition & Managment Corp
Max A. Khan, Chief Executive Officer, +1-212-655-9262, MK@RAMCOGLOBAL.COM
Source: PR Newswire (September 24, 2010 - 7:30 AM EDT)
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Environmental Tectonics Corporation Announces Second Quarter and Year-to-Date Fiscal 2011 Results
Revenues and Net Income for Both Periods up from Prior Year
Sep. 24, 2010 (PR Newswire) --
SOUTHAMPTON, Pa., Sept. 24 /PRNewswire-FirstCall/ -- Environmental Tectonics Corporation (OTC Bulletin Board: ETCC) ("ETC", "we", or the "Company") today announced that sales for the second quarter of fiscal 2011, which ended August 27, 2010 were $13,244,000 as compared to $9,860,000 for the second quarter of fiscal 2010, an increase of $3,384,000 or 34.3%. Sales for the first half of fiscal 2011 were $25,365,000 as compared to $19,441,000 for the first half of fiscal 2010, an increase of $5,924,000 or 30.5%.
For the second quarter of fiscal 2011, the Company had a net income of $1,666,000 or $0.12 per share (basic) and $0.08 (diluted) compared to net income of $1,249,000 or $0.09 per share (basic) and $0.06 (diluted), for the second quarter of fiscal 2010, representing an increase of $417,000 or 33.4%. The increase reflected a reduction in selling and marketing expenses, interest expense and a loss on extinguishment of debt of $224,000, which the Company recognized in the prior year.
For fiscal year to date, the Company had a net income of $3,602,000 or $0.27 per share (basic) and $0.17 (diluted) during the first half of fiscal 2011 compared to net income of $2,019,000 or $0.15 per share (basic) and $0.09 (diluted), for the second quarter of fiscal 2010, representing an improvement of $1,583,000 or 78.4%. The improvement reflected an increase in gross profit (reflecting the higher sales level) coupled with lower operating expenses and interest expense. Increased research and development expenses acted as a partial offset. Due to the utilization of net operating loss carry forwards, no provision for income taxes was recorded in the first half of fiscal 2011 or 2010.
Our sales backlog at August 27, 2010 and February 26, 2010, for work to be performed and revenue to be recognized under written agreements after such dates, was $122,111,000 and $96,964,000, respectively. The geographic composition of the August 27, 2010 consists of U.S. Government (63.6%), International (31.7%) and Domestic (4.7%).
William F. Mitchell, ETC's President and Chairman, stated, "This financial report reflects the significant impact of numerous major contracts which were booked in the last 12 months. Awards have been received from the U.S. Navy and Air Force for state-of-the-art simulators and from a long time customer in Southeast Asia for multiple aircrew training simulators.
"The impact of our positive cash flow from operations and availability under our lines cannot be underestimated. Multi-year long-term contracts require significant cash outlays during certain phases of execution. A growing company requires cash to expand its operation. I am very encouraged that ETC is finally benefiting from our many years of product development and engineering innovation."
Thirteen weeks ended August 27, 2010 compared to thirteen weeks ended August 28, 2009
Summary Table of Results
13 weeks ended
13 weeks ended
Variance
Variance
Aug. 27, 2010
Aug. 28, 2009
$
%
(amounts in thousands)
( ) = unfavorable
Sales:
Domestic
$2,418
$2,877
$ (459)
(16.0)%
US Government
6,587
1,676
4,911
293.0
International
4,239
5,307
(1,068)
(20.1)
Total sales
13,244
9,860
3,384
34.3
Gross profit
4,794
4,956
(162)
(3.3)
Selling and marketing expenses
1,020
1,270
250
19.7
General and administrative expenses
1,623
1,568
(55)
(3.5)
Research and development expenses
240
227
(13)
(5.7)
Operating income
1,911
1,891
20
1.1
Interest expense, net
189
350
161
46.0
Other expense, net
56
66
10
15.2
Loss on extinguishment of debt
-
224
224
100.0
Income taxes
-
-
-
n/a
Noncontrolling interest
-
2
2
100.0
Net income
1,666
1,249
417
33.4%
Preferred stock dividend
(568)
(460)
(108)
(23.5)
Income applicable to common shareholders
$1,098
$789
$309
39.2
Net income per common share (basic)
$0.12
$0.09
$0.03
33.3%
Net income per common share (diluted)
$0.08
$0.06
$0.02
33.3%
Sales for the second quarter of fiscal 2011 were $13,244,000 as compared to $9,860,000 for the second quarter of fiscal 2010, an increase of $3,384,000 or 34.3%. A significant increase was realized in the U.S. Government market offset in part in by a decline in Domestic and International sales.
Domestic sales in the second quarter of fiscal 2011 were $2,418,000 as compared to $2,877,000 in the second quarter of fiscal 2010, a decrease of $459,000 or 16.0%, primarily reflecting reductions in the sterilizer (down $448,000 or 28.6%) and environmental (down $227,000 or 66.8%) product groups. Domestic sales represented 18.3% of the Company's total sales in the second quarter of fiscal 2011, as compared to 29.2% for the second quarter of fiscal 2010.
U.S. Government sales in the second quarter of fiscal 2011 were $6,587,000 as compared to $1,676,000 in the second quarter of fiscal 2010, an increase of $4,911,000 or 293.0%, and represented 49.7% of total sales in the second quarter of fiscal 2011 versus 17.0% for the second quarter of fiscal 2010. This increase is the result of sales of the Company's Pilot Training Systems products under significant contracts from the U.S. Navy for a research disorientation trainer and the U.S. Air Force to provide a high performance training and research human centrifuge and a suite of altitude chambers.
International sales, which include sales in the Company's subsidiary in Poland, for the second quarter of fiscal 2011 were $4,239,000 as compared to $5,307,000 in the second quarter of fiscal 2010, a decrease of $1,068,000 or 20.1%, and represented 32.0% of total sales, as compared to 53.8% in the second quarter of fiscal 2010. International performance reflected lower simulation sales (down $1,444,000) primarily for a contract in the Middle East which was completed in fiscal 2010.
Despite the 34.3% increase in sales, gross profit for the second quarter of fiscal 2011 decreased $162,000 or 3.3% from the second quarter of fiscal 2010. This reduction resulted from a 14.1 percentage point reduction in the gross margin rate as a percentage of sales to 36.2% for the second quarter of fiscal 2011 from 50.3% for the same period a year ago. The current period reflected a sales mix shift to a higher concentration of lower margin U.S. Government contract work compared to higher margin international sales in the prior period.
Selling and marketing expenses for the second quarter of fiscal 2011 were $1,020,000 as compared to $1,270,000 in the second quarter of fiscal 2010, a decrease of $250,000 or 19.7%. This decrease primarily reflected reduced bid and proposal expenses and reduced commissions on the mix shift in sales in the current quarter to U.S. Government sales. General and administrative expenses for the second quarter of fiscal 2011 were $1,623,000 as compared to $1,568,000 in the second quarter of fiscal 2010, an increase of $55,000 or 3.5%. Research and development expenses, which are charged to operations as incurred, were $240,000 for the second quarter of fiscal 2011 as compared to $227,000 for the second quarter of fiscal 2010.
In the second quarter of fiscal 2010, the Company recorded a loss on extinguishment of debt related to an exchange transaction which was effected on July 2, 2009.
Interest expense for the second quarter of fiscal 2011 was $189,000 as compared to $350,000 for the second quarter of fiscal 2010, representing a decrease of $161,000 or 46.0%, reflecting reduced bank borrowing and the July 2009 exchange of a $10 million convertible note for preferred stock. Other expense, net, was $56,000 for the second quarter of fiscal 2011 versus $66,000 for the second quarter of fiscal 2010. These expenses consist primarily of bank and letter of credit fees as well as foreign currency exchange gains or losses.
The Company did not record a provision for income taxes for the thirteen-week periods ended August 27, 2010 or August 28, 2009 due to the utilization of net operating loss carry forwards available to offset current and future income taxes.
Twenty-six weeks ended August 27, 2010 compared to twenty-six weeks ended August 28, 2009
Summary Table of Results
26 weeks ended
26 weeks ended
Variance
Variance
Aug. 27, 2010
Aug. 28, 2009
$
%
(amounts in thousands)
( ) =unfavorable
Sales:
Domestic
$5,336
$4,836
$ 500
10.3%
US Government
10,573
3,512
7,061
201.1
International
9,456
11,093
(1,637)
(14.8)
Total sales
25,365
19,441
5,924
30.5
Gross profit
9,924
9,383
541
5.8
Selling and marketing expenses
2,122
2,524
402
15.9
General and administrative expenses
3,086
3,170
84
2.6
Research and development expenses
564
455
(109)
(24.0)
Operating income
4,152
3,234
918
28.4
Interest expense, net
417
866
449
51.9
Other expense, net
128
121
(7)
(5.8)
Loss on extinguishment of debt
-
224
224
100.0
Income taxes
-
-
-
n/a
Noncontrolling interest
5
4
(1)
(25.0)
Net income
3,602
2,019
1,583
78.4%
Preferred stock dividend
(1,145)
(695)
(450)
(64.7)
Income applicable to common shareholders
$2,457
$1,324
$1,133
85.6
Net income per common share (basic)
$0.27
$0.15
$0.12
80.0%
Net income per common share (diluted)
$0.17
$0.09
$0.08
88.9%
Sales for the first half of fiscal 2011 were $25,365,000 as compared to $19,441,000 for the first half of fiscal 2010, an increase of $5,924,000 or 30.5%. Significant increases were realized in the U.S. Government and Domestic markets offset in part in by a decline in International sales.
Domestic sales in the first half of fiscal 2011 were $5,336,000 as compared to $4,836,000 in the first half of fiscal 2010, an increase of $500,000 or 10.3%, reflecting a significant increase in the sterilizer product line (up $1,058,000 or 59.3%) partially offset by declines in most other product areas. Domestic sales represented 21.0% of the Company's total sales in the first half of fiscal 2011, as compared to 24.9% for the first half of fiscal 2010.
U.S. Government sales in the first half of fiscal 2011 were $10,573,000 as compared to $3,512,000 in the first half of fiscal 2010, an increase of $7,061,000 or 201.1%, and represented 41.7% of total sales in the first half of fiscal 2011 versus 18.1% for the first half of fiscal 2010. This increase is the result of sales of the Company's Pilot Training Systems products under significant contracts from the U.S. Navy for a research disorientation trainer and the U.S. Air Force to provide high performance training and research human centrifuge and a suite of altitude chambers.
International sales, which include sales in the Company's subsidiary in Poland, for the first half of fiscal 2011 were $9,456,000 as compared to $11,093,000 in the first half of fiscal 2010, a decrease of $1,637,000 or 14.8%, and represented 37.3% of total sales, as compared to 57.0% in the first half of fiscal 2010. International performance reflected lower simulation sales (down $2,492,000 or 90.5%) primarily for a contract in the Middle East which was completed in fiscal 2010.
Gross profit for the first half of fiscal 2011 was $9,924,000 as compared to $9,383,000 in the first half of fiscal 2010, an increase of $541,000 or 5.8%. As a percentage of sales, gross profit for the first half of fiscal 2011 was 39.1% compared to 48.3% for the same period a year ago. The gross margin dollar increase followed the sales increase in both governmental and domestic sales which was primarily offset by a reduction in higher margin international sales. The 9.2 percentage point reduction in the gross margin rate as a percentage of sales primarily reflected reductions in the ATS and simulation product areas.
Selling and marketing expenses for the first half of fiscal 2011 were $2,122,000 as compared to $2,524,000 in the first half of fiscal 2010, a decrease of $402,000 or 15.9%. This decrease primarily reflected reduced bid and proposal expenses and reduced commissions on the mix shift in sales in the first half of fiscal 2011 to U.S. Government sales. General and administrative expenses for the first half of fiscal 2011 were $3,086,000 as compared to $3,170,000 in the first half of fiscal 2010, a decrease of $84,000 or 2.6%. Research and development expenses, which are charged to operations as incurred, were $564,000 for the first half of fiscal 2011 as compared to $455,000 for the first half of fiscal 2010.
In the first half of fiscal 2010, the Company recorded a loss on extinguishment of debt related to an exchange transaction which was effected on July 2, 2009. Interest expense for the first half of fiscal 2011 was $417,000 as compared to $866,000 for the first half of fiscal 2010, representing a decrease of $449,000 or 51.9%, reflecting reduced bank borrowing and the July 2009 exchange of a $10 million convertible note for preferred stock. Other expense, net, was $128,000 for the first half of fiscal 2011 versus $121,000 for the first half of fiscal 2010. These expenses consist primarily of bank and letter of credit fees as well as foreign currency exchange gains or losses.
Due to the utilization of net operating loss carry forwards available the Company did not record an income tax expense on the income in the first half of fiscal 2011 or 2010.
The reader is referred to the Company's Annual Report on Form 10-K for the period ended February 26, 2010, filed on May 27, 2010, for additional information on the Company.
ETC was incorporated in 1969 in Pennsylvania and last year we celebrated our 40th anniversary. Our core technologies include the design, manufacture and sale of Training Services (TSG) which includes (1) software driven products and services used to create and monitor the physiological effects of flight; (2) high performance jet tactical flight simulation, and; (3) driving and disaster simulation systems, and Control Systems (CSG) which includes: (1) steam and gas sterilization; (2) testing and simulation devices for the automotive industry, and; (3) hyperbaric and hypobaric chambers. Product categories included in TSG are Aircrew Training Systems (ATS) and flight simulators, disaster management systems and entertainment applications. CSG includes sterilizers, environmental control devices and hyperbaric chambers along with parts and service support.
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on ETC's current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about ETC's and its subsidiaries that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.
These forward-looking statements include statements with respect to the Company's vision, mission, strategies, goals, beliefs, plans, objectives, expectations, anticipations, estimates, intentions, financial condition, results of operations, future performance and business of the company, including but not limited to,( i) projections of revenues, costs of materials, income or loss, earnings or loss per share, capital expenditures, growth prospects, dividends, capital structure, other financial items and the effects of currency fluctuations, (ii) statements of our plans and objectives of the Company or its management or Board of Directors, including the introduction of new products, or estimates or predictions of actions of customers, suppliers, competitors or regulatory authorities, (iii) statements of future economic performance, (iv) statements of assumptions and other statements about the Company or its business, (v) statements made about the possible outcomes of litigation involving the Company, (vi) statements regarding the Company's ability to obtain financing to support its operations and other expenses, and (vii) statements preceded by, followed by or that include the words, "may," "could," "should," "looking forward," "would," "believe," "expect," "anticipate," "estimate," "intend," "plan," or the negative of such terms or similar expressions. These forward-looking statements involve risks and uncertainties which are subject to change based on various important factors. Some of these risks and uncertainties, in whole or in part, are beyond the Company's control. Factors that might cause or contribute to such a material difference include, but are not limited to, those discussed in our Annual Report on Form 10-K for the fiscal year ended February 26, 2010, in the section entitled "Risks Particular to Our Business." Shareholders are urged to review these risks carefully prior to making an investment in the Company's common stock.
The Company cautions that the foregoing list of important factors is not exclusive. Except as required by federal securities law, the Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company.
Contact: Duane D. Deaner, CFO
Tel: 215-355-9100 (ext. 1203)
Fax: 215-357-4000
ETC – Internet Home Page:
http://www.etcusa.com
SOURCE Environmental Tectonics Corporation
Duane D. Deaner, CFO of Environmental Tectonics Corporation, +1-215-355-9100, (ext. 1203), Fax: +1-215-357-4000
Source: PR Newswire (September 24, 2010 - 7:30 AM EDT)
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Phil Mason Appointed General Manager of Geovic Cameroon PLC; Nkamouna Project Update
Sep. 24, 2010 (GlobeNewswire) --
DENVER, Sept. 24, 2010 (GLOBE NEWSWIRE) -- Geovic Mining Corp. ("Geovic" or "the Company") (TSX:GMC) (OTCBB:GVCM), on behalf of its 60.5%-owned subsidiary Geovic Cameroon PLC, is pleased to announce the appointment of Mr. Phillip R. Mason as General Manager of Geovic Cameroon PLC. Mr. Mason is a 30-year mining industry veteran, including 20 years experience in the African countries of Angola, the Democratic Republic of Congo, and the Republic of South Africa. He is a mechanical engineer with a solid background in management, project planning, construction, commissioning, and operations in rural African environments. Greg Hill, CFO of Geovic Mining and Chairman of Geovic Cameroon PLC, states, "Phil is a strategic hire for Geovic Cameroon, well qualified to move its flagship Nkamouna project, the first major Cameroonian mining venture, successfully through the construction stage and into production."
Nkamouna Project Update
Geovic Cameroon retained Lycopodium Minerals Pty. Ltd. of Perth, Australia in December 2009 to prepare a bankable feasibility study based on both prior feasibility study conclusions and recent, dynamic changes to project mining and processing technologies. Lycopodium's Feasibility Study Update (FSU) is scheduled to be completed by year-end, incorporating key enhancements such as:
A new mine plan incorporating better grade control and a cost-efficient strip-mining technique
A new, innovative leach chemistry that reduces process costs and risks
An on-site refinery, allowing the production of more profitable cobalt oxide and nickel carbonate end products (in addition to cobalt-nickel sulfide intermediate precipitate) and manganese carbonate
Mining
In October 2009, Geovic announced a 97% increase in combined Measured & Indicated Resources at the Nkamouna and Mada properties. Utilizing the additional resources, a new mine plan was developed by Geovic Cameroon and SRK Consulting of Lakewood, Colorado, resulting in an estimated five-year mine life extension to 23 years. The Company used its extensive database to carry out a rigorous statistical evaluation of its ore grade control process, and subsequently further optimized the mine plan, significantly increasing forecast cash flow in the early years of production. The updated mine plan, utilizing excavators, articulated dump trucks, and bulldozers to accomplish strip mining and concurrent reclamation, reduces expected operating costs and is better suited for continuous operation during the wet season.
Processing and Metal Recovery
Geovic Cameroon has finalized the process to be utilized in producing cobalt oxide, nickel carbonate, and manganese carbonate. However, it retains the option to sell a high-quality mixed sulfide precipitate (the end product of the stage two process) should it be necessary or beneficial to do so, in addition to or instead of the final high purity products from the third and final stage.
The first processing stage, involving the physical upgrading of run-of-mine ore, remains unchanged from previous Company plans. This physical upgrading circuit was recently validated through pilot testing at Hazen Research in Golden, Colorado to establish specific engineering parameters for plant design and equipment selection.
The second stage utilizes sulfuric acid leaching with pyrite as a reducing agent to solubilize cobalt, nickel, and manganese while concurrently reducing impurities. Continuous pilot testing completed in early July by Hazen demonstrated this innovative process. Several noteworthy features of the pyrite leach process include creation of the heat required for leaching at 95° C, precipitation of most of the impurities, and re-generation of significant sulfuric acid for further use during the leach process. These tests also established the robustness of the process, in addition to procedures necessary to produce manganese carbonate as a final product by first precipitating the cobalt and nickel as sulfides from the leach solution.
The final stage involves the production of high quality cobalt and nickel products utilizing conventional, industry-proven solvent extraction technology. Project economics are expected to be improved by on-site refining over the sale of intermediate sulfide precipitates. The refining process includes re-leaching the sulfide precipitate; further purifying, separating, and concentrating these re-leach solutions using conventional solvent extraction technology; and precipitating high purity cobalt and nickel carbonates. The cobalt is then roasted to produce cobalt oxide. Test work underway at SGS Lakefield in Perth, Australia to demonstrate the re-leaching process is expected to be completed and included in the FSU.
Product Marketing
Discussions continue with several potential cobalt, nickel, and manganese purchasers to effect long-term metal sales agreements. Some of these off-take discussions are being spearheaded by Geovic Cameroon's financial advisor, Standard Chartered Bank, and include creative proposals involving potential financing and/or strategic partnerships.
Environmental Reports, Community
The Nkamouna Project has an approved Environmental and Social Assessment (ESA) in conformity with both Cameroon regulations and international environmental standards. In May, Knight PiEsold and Co. of Denver, Colorado and Rainbow Environmental Consultants of Yaounde, Cameroon prepared an update to the previous ESA describing impacts associated with the process changes and modifications to the tailings facility. The new tailings facility incorporates a two-celled, fully engineered containment system. The acidic leach tailings will be stored in a separate tailings cell with a geosynthetic liner, isolating the leach tailings from the inert physical upgrade tailings. The updated ESA also includes a new Biodiversity Management Plan, presenting the actions and offsite mitigation measures Geovic Cameroon will take to limit its impact on important habitats to the maximum practical extent.
Separately, Geovic continues its valuable partnership with GeoAid Cameroon, an independent, non-profit humanitarian and social services organization that is retained through a service agreement with Geovic Cameroon to implement health, education, micro-enterprise, agriculture, and livestock programs. For every dollar the Company invested in the Geovic-GeoAid service agreement for Cameroon-based socio-humanitarian programs in 2009, GeoAid generated four dollars of additional in-kind donations, primarily of medicine and medical supplies thanks to GeoAid International's partnership with Medical Teams International of Portland, Oregon and St. Mary's Hospital of Grand Junction, Colorado. In 2010, such external donations are expected to double from the 2009 level.
Geovic Mining Background
Geovic is a U.S.-based corporation whose principal asset is 60.5% ownership of a significant cobalt-nickel-manganese deposit in the Republic of Cameroon, Africa. Additional Company initiatives and Project information may be found on the websites www.geovicenergy.com, www.sedar.com, and www.sec.gov. For more information, please go to www.geovic.net
On behalf of the Board
John E. Sherborne, CEO and Director
Cautionary Note Regarding Forward Looking Statements
Statements contained in this press release that are not historical facts are forward-looking statements (within the meaning of Canadian securities legislation) that involve risks and uncertainties. Forward-looking statements include, but are not limited to, statements with respect to the timing and completion of the FSU; future price of metals; the estimation of mineral reserves and resources; the timing and amount of estimated future financing, construction, and production, costs of production, and capital expenditures; costs and timing of the development of new deposits; and success of exploration activities, permitting time lines, currency fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. In certain cases, forward-looking statements can be identified by the use of words such as "proposes", "expects", "is expected", "scheduled", "estimated", "intends", or variations of such words and phrases or state that certain actions, events or results "will" occur. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, risks related to operations; actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of metals; possible variations in ore reserves, grades, or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, other risks of the mining industry, delays in obtaining governmental approvals or financing or in the completion of development or construction activities and other factors as described in detail in the Company's Annual Report on Form 10-K, quarterly reports on Form 10-Q, and other filings with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this press release speak only as of the date hereof. The Company does not undertake any obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.
This highest-value, lowest cost press release is a service of So Act Network's Press Club. www.pressclub.biz
CONTACT: Geovic Mining Corp.
Andrew C. Hoffman, CFA, V.P., Investor Relations
(720) 350-4130
(888) 350-4130
ahoffman@geovic.net
San Diego Torrey Hills Capital
(858) 456-7300
info@torreyhillscapital.com
Vanguard Shareholder Solutions
(604) 608-0824
(866) 801-0779
ir@vanguardsolutions.ca
Source: Globe Newswire (September 24, 2010 - 7:30 AM EDT)
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GHN Agrispan announces supply agreement with Fortune 100 retail company in China
Sep. 24, 2010 (M2 Communications Ltd.) --
GHN Agrispan Holding Company (OTCBB:GHNA), an emerging Chinese operating company engaged in the agriculture, prepared foods and catering industries, reported on Thursday the signing of a supplier agreement with a Fortune 100 retail company in China.
Under this agreement GHN Agrispan, upon receipt of a purchase order, will sell certain of its products to the unnamed retailer for resale at its locations throughout China.
The deal has an initial term of one year and automatically renews for consecutive one-year periods if neither party terminates the agreement in writing.
Financial details were not available.
(Comments on this story may be sent to tww.feedback@m2.com)
Source: M2 Presswire (September 24, 2010 - 7:25 AM EDT)
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Strategic American Oil Corporation Completes Leasing of Oakdale NE Field
Sep. 24, 2010 (GlobeNewswire) --
CORPUS CHRISTI, Texas, Sept. 24, 2010 (GLOBE NEWSWIRE) -- Strategic American Oil Corporation (OTCBB:SGCA) (the "Company") is pleased to announce it has completed leasing the Oakdale NE (Northeast) Prospect in the Illinois Basin. The Company has evaluated geologic and trend information, including surrounding well control and is enthusiastic about the potential. Currently the Company is developing its internal engineering report in an effort to establish plans to drill an offset well on the Oakdale NE acreage. This prospect was identified from geologic and historic well information provided, in part, by the state of Illinois State Geological Survey (ISGS).
The Oakdale NE Prospect is sitting to the northeast and on strike with the Oakdale North Field which is situated in an area of structural flattening of regional dip. Numerous fields, most being stratigraphic traps, produce around the Oakdale NE area. The stratigraphic setting at Oakdale North may be repeated under our prospect acreage. According to the ISGS, the original Oakdale North Field produced 761,000 barrels of oil.
The Oakdale NE Prospect is a part of a broader effort by the Company to create an exploration and development program with a mix of risk profiles, ranging from waterflood recovery projects, lower risk offset wells, step-out wells, and pinnacle reef targets. This portfolio of prospects will provide Strategic American Oil a relatively low cost/high reward portfolio of drilling locations in the heart of the oil-rich Illinois Basin.
President and CEO Jeremy Driver stated, "The Oakdale NE prospect was identified and leased in-house. We are now in a position to establish development plans that will allow us to secure working interest partners to move the prospects toward the drilling stage. Initial evaluation of surrounding well control for this prospect shows tremendous promise and we look forward to developing it to its full potential."
About Strategic American Oil
Strategic American Oil Corporation (OTCBB:SGCA) is a growth stage oil and natural gas exploration and production company with operations in Texas, Louisiana, and Illinois. The Company's team of geologists, engineers, and executives leverage 3D seismic data and other proven exploration and production technologies to locate and produce oil and natural gas in new and underexplored areas. The Company seeks accretive acquisitions of production, reserves, or other companies that will provide significant growth potential. Further information can be found on the Company's website at www.strategicamericanoil.com.
The Strategic American Oil Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6891
Safe Harbor Statements
Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" as such term is used in applicable United States and Canadian laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect," "is expected," "anticipates" or "does not anticipate," "plans," "estimates" or "intends," or stating that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved) are not statements of historical fact and should be viewed as "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the actual results of exploration activities, variations in the underlying assumptions associated with the estimation or realization of mineral resources, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labour disputes and other risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes or claims limitations on insurance coverage. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release.
CONTACT: Strategic American Oil Corporation
Corporate Offices:
600 Leopard Street, Suite 2015
Corpus Christi, Texas 78401
www.StrategicAmericanOil.com
Investor Awareness, Inc.
Investor Relations:
Tony Schor
James Foy
847-945-2222
www.InvestorAwareness.com
Source: Globe Newswire (September 24, 2010 - 7:18 AM EDT)
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Derycz Scientific to Hold Conference Call for Fiscal 2010 Fourth Quarter and Full Year Financial Results on September 28
Sep. 24, 2010 (PR Newswire) --
SANTA MONICA, Calif., Sept. 24 /PRNewswire-FirstCall/ -- Derycz Scientific (OTC Bulletin Board: DYSC), a company that is pioneering a fresh way of facilitating the flow of information from content publishers to enterprise customers and their constituents, will release its financial results for the quarter and full fiscal year ended June 30, 2010 after market close on Tuesday, September 28, 2010. Management will host a conference at 5:00 p.m. Eastern time (2:00 p.m. Pacific time) to discuss the results and provide a business update.
Individuals interested in participating in the conference call may do so by dialing (800) 374-0746 for domestic callers, or +1 (706) 634-1575 for international callers. For instructions and access for listening to the conference call live via the Internet, individuals can visit the company's website at www.deryczscientific.com.
A webcast replay will be available on the Derycz Scientific website for 90 days. A telephone replay will be available for 48 hours following the conclusion of the call by dialing (800) 642-1687 for domestic callers, or +1 (706) 645-9291 for international callers, and entering reservation code 13482902.
About Derycz Scientific®
Derycz Scientific, Inc. develops companies, products, services and systems that facilitate the re-use of published content in a manner that helps organizations achieve their marketing, communication and research goals effectively and in compliance with copyright law and regulatory rules. Its subsidiary companies include Reprints Desk and Pools Press. Reprints Desk offers a one-stop solution for reprints, ePrints and single articles, and has delivered millions of articles worldwide. Reprints Desk is an innovator in content retrieval and ePrint delivery and its services are designed to help make effective use of published articles in a copyright-compliant manner. Pools Press has excelled in the reprint market for over 30 years. It provides professionally printed articles from medical and technical journals; prints booklets, catalogs, pamphlets, direct mail pieces, newsletters, and all business stationery; and works with publishers who wish to outsource a portion of or all of their reprints business. For more information, go to www.deryczscientific.com.
SOURCE Derycz Scientific, Inc.
Peter Derycz, President & CEO of Derycz Scientific, Inc., +1-310-477-0354; or investors, Jody Cain of Lippert/Heilshorn & Associates, Inc., +1-310-691-7100, jcain@lhai.com, for Derycz Scientific, Inc.
Source: PR Newswire (September 24, 2010 - 7:00 AM EDT)
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Verecloud Announces DTC Eligibility and Begins Trading
Sep. 24, 2010 (Business Wire) -- Verecloud (OTCBB:VCLD), which is helping communications service providers (CSPs) capture market share in the emerging cloud computing services business, announced today that the Depository Trust Company (DTC) has granted the company eligibility status and Verecloud is now tradable on the Over-the-Counter market.
The DTC provides banks, brokerage firms and other institutions with an efficient means of moving securities and settling trades electronically.
"We are pleased that our common stock is now DTC eligible," said Jim Buckley, Verecloud’s chief financial officer. “Becoming DTC eligible is a crucial step in increasing our exposure and simplifying how shares can be traded or exchanged through brokers of our investors' choice.”
Verecloud became a public reporting company on August 31, 2009, through a share exchange agreement and its public filings are available on the investor relations section of the company’s Web site at http://www.verecloud.com/verecloud-investor-relations.html.
About DTC
Depository Trust Company (DTC) is a member of the U.S. Federal Reserve System, a limited-purpose trust company under New York State banking law and a registered clearing agency with the Securities and Exchange Commission. The depository brings efficiency to the securities industry by retaining custody of some two million securities issues, effectively "dematerializing" most of them so that they exist only as electronic files rather than as countless pieces of paper. The depository also provides the services necessary for the maintenance of the securities it has in custody.
About Verecloud
Based in Englewood, Colorado, Verecloud enables communications service providers (CSPs) to capture market share in the expanding and lucrative cloud computing market. Verecloud’s cloud brokerage platform, the Nimbus Exchange, addresses the CSPs’ need to integrate their cloud cervices business with existing back-office systems ewhichenable CSPs to drive new revenue opportunities. By collaborating with Verecloud, CSPs are positioned to capture a significant percentage of this exciting market by leveraging their trusted intermediary status as a cloud services broker. Learn more about Verecloud at: http://www.verecloud.com.
Forward-Looking Statement
This release may contain projections and other forward-looking statements that involve risks and uncertainties. Forward-looking statements are projections reflecting management’s judgment and assumptions based on currently available information and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Future performance cannot be assured. Readers are referred to the documents filed by Verecloud with the Securities and Exchange Commission (SEC), specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. Recent documents filed with the SEC can be found in the Investor Relations section of our website (www.verecloud.com). Verecloud believes the forward-looking statements in this release are reasonable; however, you should not place undue reliance on forward-looking statements, which are based on current expectations and speak only as of the date of this release. Verecloud is not obligated to publicly release any revisions to forward-looking statements to reflect events after the date of this release.
Verecloud
Investor Relations:
Lynn Schlemeyer, 877-711-6492
Vice President of Investor Relations
lynn.schlemeyer@verecloud.com
or
Media Inquiries:
Visitech PR
Michael Hopkins, (303) 752-3552 ext. 230
vc@visitechpr.com
Source: Business Wire (September 24, 2010 - 7:00 AM EDT)
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SED International Holdings' Board of Directors Extends Stock Repurchase Program
Sep. 24, 2010 (Business Wire) -- SED International Holdings, Inc. (OTCBB:SECX), a multinational supply chain management provider and distributor of leading computer technology, consumer electronics, small appliances and cellular products, today announced that on September 22, 2010, its Board of Directors reserved an additional $150,000 for repurchases under the Company’s stock repurchase program pursuant to which SED may buy back shares of its common stock in the open market or in individually negotiated transactions.
“Extending our repurchase program reflects our ongoing commitment to increasing shareholder value and reinforcing our belief that SED represents a compelling investment opportunity. We believe our strong performance for fiscal 2010, and strategic growth initiatives for fiscal 2011 provide evidence of our ability to develop our business and exciting new prospects for our future corporate and financial growth,” said Jonathan Elster, SED’s President and Chief Executive Officer.
This extension brings the aggregate amount authorized by SED’s Board of Directors to $350,000 for repurchases of its common stock since the inception of its repurchase program in August 2009. As of June 30, 2010, SED had repurchased a total of 51,608 shares of its common stock at an average cost of $2.36 per share.
Open market purchases under the repurchase program have been structured to comply with Rule 10b-18 of the Securities Exchange Act of 1934, as amended, does not obligate SED to acquire any specific number of shares and may be suspended or terminated by SED’s Board of Directors at any time.
The repurchase program will be funded using SED's working capital. Repurchased shares will be retired and restored to the status of authorized and unissued shares or added to treasury shares, in either case, increasing the percentage ownership of all existing shareholders.
As of September 22, 2010, the closing price per share of SED's common stock was $2.68.
ABOUT SED INTERNATIONAL HOLDINGS, INC.
Founded in 1980, SED International Holdings, Inc. is a multinational, preferred distributor of leading computer technology, consumer electronics, small appliances and cellular products. The Company also offers custom-tailored supply chain management services ideally suited to meet the priorities and distribution requirements of the e-commerce, Business-to-Business and Business-to-Consumer markets. Headquartered near Atlanta, Georgia with business operations in California; Florida; Georgia; Texas; Bogota, Colombia and Buenos Aires, Argentina, SED serves a customer base of over 10,000 channel partners and retailers in the U.S. and Latin America. To learn more, please visit www.SEDonline.com; or follow us on Twitter @SEDIntl.
Statements made in this Press Release that are not historical or current facts are "forward-looking statements.” These statements often can be identified by the use of terms such as "may," "will," "expect," "believes," "anticipate," "estimate," "approximate" or "continue," or the negative thereof. The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management's best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond the control of the Company that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. These factors include adverse economic conditions, entry of new and stronger competitors, inadequate capital, unexpected costs, failure to gain product approval in foreign countries and failure to capitalize upon access to new markets. The Company disclaims any obligation to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events. These factors and others are discussed in the "Management's Discussion and Analysis" section of the Company's Reports on Form 10-K for the fiscal year ended June 30, 2010.
The Piacente Group, Inc.
Brandi Floberg or Lee Roth, 212-481-2050
sed@tpg-ir.com
(Twitter: TPGir)
Source: Business Wire (September 24, 2010 - 7:00 AM EDT)
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North American Nickel Inc. Announces its 2010 Sudbury, Ontario Exploration Plans; TSX Venture Application Submitted
Sep. 24, 2010 (Marketwire) --
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/24/10 -- North American Nickel Inc. (OTCBB: WSCRF)(CUSIP: 65704T 108) is pleased to update shareholders on its Sudbury, Ontario exploration plans for the rest of 2010.
Exploration is about to resume on North American Nickel (NAN) Sudbury properties. This follows the recently completed $100,000 work program undertaken on its property of merit, the Post Creek property. The Company's TSX Venture application, and the accompanying NI43-101 technical report on Post Creek, has been submitted to the TSX.
The Sudbury mining camp was discovered in 1856 when Alexander Murray reported sulphide minerals in a Geological Survey of Canada report. The Sudbury camp and the Noril'sk region in Russia are regarded as the most prolific nickel sulphide producing districts in the world.
Geologically, the Sudbury Structure is the remnant of a deformed 1.85 billion year old meteor impact crater. It is of exceptional economic significance having produced 40 billion lbs of nickel, 36 billion lbs of copper, 70 million ounces of platinum, palladium and gold and 283 million ounces of silver recovered from more than 77 nickel-copper-platinum group element deposits and two minor Zn-Pb-Cu deposits. Total historic production and current known reserves in Sudbury represent one trillion dollars in value based on 2007 metal prices. Most recently, the discovery of new Cu-Ni-PGE resources in the Camp indicates there is additional ore to be found in the district. New discoveries include the Podolsky Mine and the Totten Cu-Ni-PGE deposit along the Whistle Offset and the Worthington Offset, respectively and footwall deposits such as Nickel Rim South and Vale's 153 deposit.
North American Nickel Sudbury Properties
POST CREEK
The Whistle Offset Structure
The Post Creek property is known to host two distinctive types of mineralization: the Offset environment with copper-nickel-platinum group element-gold within the Whistle Offset Structure, and the copper-zinc base metal massive sulphide type mineralization represented by the historic Maki Zn-Cu occurrence. Both styles of mineralization have been the focus of ongoing exploration since North American Nickel acquired the property.
The Whistle Offset Structure hosts multiple deposits of Cu-Ni-PGE mineralization at Quadra-FNX's currently producing Podolsky Cu-Ni-PGE-Au mine. The average grade for the Podolsky Mine is 3.2% Cu, 0.3% Ni and 3.4 g/t Pt+Pd+Au with a mine life planned to continue past 2015. The Post Creek property is approximately 1.5 km northeast of the Podolsky Mine, along the Whistle Offset Structure, so the importance of this geologic feature cannot be underestimated for Post Creek exploration.
Historic work
Drilling between 2002 and 2006 on the Post Creek property included 16 drill holes collared to test a variety of shallow targets in the Whistle Offset Structure. Examples of mineralized zones intersected by these holes include a 4 metre intersection of fine-grained disseminations, blebs and laminae of chalcopyrite in a silicified and clay-altered non-inclusional gabbro dyke. Assay results within this 4 m section indicated maximum values of 0.68% copper over 1 m. Another intersection included a 0.6 metre near solid to solid sulphide zone/vein grading 0.48% copper, 0.08% nickel, 53 parts per billion (ppb) palladium, 34 ppb platinum and 20 ppb gold in rocks described as footwall breccia.
The Maki Zn-Cu occurrence is an example of a base metal massive sulphide type deposit on the Post Creek property. Historic exploration as early as 1959 documented high-grade base metal assays of 9.72% Zn, 3.72% Cu and 0.69 g/t Au in grab samples from trenches. The area of this mineralized zone will be prospected, historic trenches mucked out and mapped in detail. Deep-looking ground geophysical surveys will be utilized to provide targets for diamond drilling.
2010 exploration to date
NAN's exploration over the past several months at Post Creek included: detailed geological mapping of recently discovered potentially Ni-Cu-PGE-bearing breccia units; soil geochemical surveys over historic induced polarization anomalies; ground electromagnetic surveys (beep mat) to detect shallowly buried mineralization; and, excavator overburden removal to expose outcrop in areas interpreted to be important to assessing the Ni-Cu-PGE and copper-zinc potential on the property. It is noteworthy that historic exploration in the vicinity of these breccias confirmed their Ni-Cu-PGE potential with the collection of a small angular float sample from the north-easterly projection of the Whistle Offset Dyke Structure that assayed 0.83% Ni, 0.74% Cu, 0.07% Co, 2.24 g/t Pt and 1.05 g/t Pd.
NAN's results to date include the discovery of a large number of electromagnetic anomalies in the near-surface environment that will be assessed with additional excavator work and channel and chip sampling of uncovered mineralized zones. The breccias uncovered by the excavator will be assessed after comparison with historic geophysical surveys to determine if conductive targets are present. Any coincidence between the breccias and conductive anomalies indicates these targets are potentially Ni-Cu-PGE mineralized zones.
Fall 2010 exploration program
All exploration databases are being integrated and described in an assessment report to be submitted to the Ontario Mining recorder. The data are being used to identify targets for the fall exploration program The exploration program planned for September through December of 2010 will include the re-logging, sampling for geochemistry and thin section preparation of core samples from historic diamond drill programs and the continuation of "beep mat" shallow electromagnetic and magnetic surveys in areas of geological, geophysical and geochemical significance. Where overburden obscures areas of significance additional excavator-assisted overburden removal will be undertaken.
2011 drilling will focus on untested areas of historic induced polarization anomalies within the Whistle Offset Structure and results from the fall, 2010 exploration program. A second focus for drilling will be to test the deeper portions of the Whistle Offset Structure and undercut historic drill holes which intersected disseminated to near solid mineralization in association with fragmental and massive gabbroic rocks.
HALCYON
The Company acquired the Halcyon property due to its location along the northeast strike extension of the Whistle Offset Structure and has significant potential to host nickel-copper-platinum group mineralization. It is adjacent to and northeast of the Post Creek property. The initial work program for this fall will be searching assessment files to acquire geophysical, geological and geochemical survey data from the Ontario Government and private survey institutions. These data will be entered into a digital environment for subsequent integration with detailed geologic mapping. This database will form the basis for detailed ground exploration and drill targeting.
BELL LAKE
The Bell Lake property straddles the Mystery Offset Dyke which is the southwest extension of the Worthington Offset Dyke where multiple zones of nickel-copper-platinum group mineralization have been mined and where a new mine (Totten "7.85 tons grading 1.5% Ni and 2.03% Cu") will soon be in production.
Four km to the northeast of the Bell Lake property and along the Worthington Offset Structure, deep drilling by Quadra-FNX on their Victoria property has established the presence of significant mineralized zones. Recent drill intersections (May, 2010) include "1,367 feet of 1.3% copper, 0.6% nickel and 2.2 grams/tonne ("g/t") total precious metals" ("TPM"). Follow-up drilling in September of 2010 intersected multiple zones of mineralization including "624 feet of 1.9% copper, 1.7% nickel and 4.1 g/t TPM, 308 feet of 2.1% copper, 3.1% nickel and 5.1 g/t TPM and 71 feet grading 4.1% copper, 2.0% nickel and 60.1 g/t TPM".
Building the Bell Lake property's database will be the Company's initial priority. Previously commissioned geophysical surveys including Quantec's deep looking Titan 24 are being considered for purchase for NAN's use. All data, including results from historic diamond drilling will be compiled and entered into a digital environment for integration for subsequent exploration databases.
WOODS CREEK
The Woods Creek property is located in Hyman Township about 50 km west of Sudbury and comprises eight contiguous unpatented mining claims covering 1,264 hectares. The style of mineralization and the geological setting on this property are similar to those at Ursa Major's currently producing Shakespeare nickel-copper mine. A program of detailed geologic mapping will be accompanied by excavator-based overburden stripping on the Woods Creek property. The targets of disseminated nickel-copper-platinum group element plus gold mineralization are often buried beneath glacial overburden making direct observations impossible. The program will include assays from chip and channel samples.
All technical information in this release has been reviewed by Dr. Mark Fedikow, P.Geo. who is the President, Chief Operating Officer and Qualified Person for the Company.
About North American Nickel
North American Nickel is a mineral exploration company with properties in the Sudbury, Ontario and Thompson, Manitoba mining camps. The Company's initial focus is on two Sudbury, Ontario properties. The Post Creek property is strategically located adjacent to the producing Podolsky copper-nickel-platinum group metal deposit of Quadra FNX Mining. The property lies along the extension of the Whistle Offset dyke structure, which is a major geological control for Ni-Cu-PGM mineralization. The Bell Lake property is a 256-acre property that covers approximately one kilometre of the Mystery Offset dyke or MOD. The MOD is interpreted to be an extension of the Worthington Offset dyke which is a 10 to 11 kilometre-long mineralized structure that extends from the southwest margin of the Sudbury igneous complex. The Company also has option to acquire 100% ownership in the Woods Creek and Halcyon properties in the Sudbury area; and has acquired 100% ownership in the high-grade Ni-Cu-PGE South Bay property near Thompson, Manitoba and the large grassroots Thompson North and Cedar Lake properties, which are part of the world-class Thompson Nickel Belt in Manitoba. North American Nickel Inc. is a member of the North Shore Mining Group.
Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as that term defined in the Private Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbours created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from the expected results.
Contacts:
North American Nickel Inc.
Rick Mark
CEO and Chair
604-986-2020 or Toll Free: 1-866-816-0118
Source: Marketwire (September 24, 2010 - 6:30 AM EDT)
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PNI Digital Media Ranked the 20th Fastest Growing Technology Company in Canada in the Deloitte Technology Fast 50(TM)
Sep. 24, 2010 (Marketwire) --
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/24/10 -- PNI Digital Media (TSX VENTURE: PN)(OTCBB: PNDMF), ("PNI" or the "Company"), the leading innovator in online and in-store digital media solutions for retailers, announced that the Company is ranked among the Deloitte Technology Fast 50™, a ranking of the 50 fastest growing technology companies in Canada, based on the percentage of revenue growth over five years. PNI Digital Media's increase in revenues of 1055% percent from 2005 to 2009 resulted in a 20th ranking.
For over 13 years, the Deloitte Technology Fast 50™ program has tracked the successful growth of Canadian-grown global leaders. Now Canada's pre-eminent technology award program, the Deloitte Technology Fast 50™ augments the broader Deloitte North American Technology Fast 500 initiative, with winners automatically eligible for this elite ranking.
"Canadian technology companies have demonstrated some very impressive growth numbers over the past year, amid the challenges of an uncertain global economic recovery," said John Ruffolo, National Leader, Technology, Media & Telecommunications Industry Group, Deloitte. "PNI Digital Media is an example of the determination, drive and skill that will serve to position them for further growth and success in the years to come."
PNI Digital Media's CEO, Kyle Hall, credits the dedication of the PNI team and the strength and adaptability of the PNI Digital Media Platform with the company's 1055% revenue growth. Hall said, "Our team is working diligently to deliver on new solutions to carry the PNI Digital Media Platform into new markets. The combination of growth in our core market and the push into new markets will enable us to meet our goals."
To qualify for the Deloitte Technology Fast 50™ ranking, companies must have been in business for at least five years, have revenues of at least $5 million, be headquartered in Canada, own proprietary technology, and conduct research and development activities in Canada. A panel of industry experts evaluate and judge companies based on four key criteria: competitive advantage; size, growth, and market attractiveness; management effectiveness and organization; and financial performance.
About the Deloitte Technology Fast 50™ - The Deloitte Technology Fast 50™ program is Canada's pre-eminent technology awards program. Celebrating business growth, innovation and entrepreneurship, the program features four distinct categories including the Technology Fast 50™ Ranking, Companies-to-Watch Awards (early-stage Canadian tech companies in business less than five years, with the potential to be a future Deloitte Technology Fast 50™ candidate), Leadership Awards (companies that demonstrate technological leadership in four industry subcategories: hardware/semiconductor, software, telecommunications and emerging technologies) and the Deloitte Technology Green 15™ Awards (Canada's leading GreenTech companies that promote a more efficient use and re-use of the earth's resources in industrial production and consumption.) Program sponsors include Deloitte, Gowlings, GrowthWorks, TMX Group, Wellington Financial, HKMB Hub International, National Angel Capital Organization, CVCA, MaRS and IGLOO Software. For further information, visit www.fast50.ca.
About PNI Digital Media- Founded in 1995, PNI Digital Media operates the PNI Digital Media Platform, which provides transaction processing and order routing services for major retailers. The PNI Digital Media Platform connects consumer-ordered digital content, whether from online, in-store kiosks, desktop software or mobile phones, with retailers that have on-demand manufacturing capabilities for the production of personalized products such as photos, photo books and calendars, business cards and stationery. PNI Digital Media successfully generates millions of transactions each year for retailers and their thousands of locations worldwide.
Further information on our company can be found at http://www.PNIMEDIA.com
The statements that are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties. PNI Digital Media's actual results could differ materially from those expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, changes in technology, employee retention, inability to deliver on contracts, failure of customers to continue marketing the online solution, competition, general economic conditions, foreign exchange and other risks detailed in the Company's annual report and other filings. Additional information related to the Company can be found on SEDAR at www.sedar.com and on the SEC'S website at www.sec.gov/edgar.shtml. The information contained herein is subject to change without notice. PNI Digital Media shall not be liable for technical or editorial errors or omissions contained herein.
PNI Digital Media relies upon litigation protection for "forward-looking" statements.
The TSX Venture Exchange has neither approved nor disapproved the information contained in this release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Investor Relations and Press Contact:
PNI Digital Media
Simon Cairns
866-544-4881
ir@pnimedia.com
www.PNIMEDIA.com
Source: Marketwire (September 24, 2010 - 6:00 AM EDT)
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Synergy Resources Corporation Reports Initial Production Rates From Its State Lease
Sep. 24, 2010 (Business Wire) -- Synergy Resources Corporation (OTCBB: SYRG), a domestic oil and gas exploration and production company, today announced the results of initial 24 hour flow tests of eight wells on its “State Lease.” SYRG holds a 75% working interest and is the operator of all the wells.
“State Lease” Initial 24 Hour Well Results
Well Name Primary Producing
Formation
Oil (bbls) Gas (mcf) Barrels of Oil Equivalent Rate (BOE)
#33-16 D Codell 200 376 362
#16 TD Codell 161 502 244
#16 KD Codell 145 309 196
#16 LD Codell 158 407 226
#14-16 D Codell 150 426 221
#16 DD J-Sand 0 334 55
#16 P J-Sand 0 340 56
#16 B J-Sand 0 280 46
Ed Holloway, CEO of Synergy Resources Corporation, commented, “The excellent production results of our State Lease are further confirmation of our strategy of building a high-growth exploration and production company focused on oil and gas reserves in the prolific D-J Basin. All the above mentioned wells were drilled and completed on schedule and below estimated costs and if commodity prices remain at current levels we will exceed our projected return on investment goals.
"With the recent success of horizontal drilling in the Niobrara formation by several large independent oil and gas companies in the DJ Basin, we have purposely elected not to complete any of these wells in the Niobrara formation in order for us to employ this strategy of horizontal drilling to enhance production. I would also point out that while the initial production rates from the wells completed in the J-Sand Formation may appear to be modest, they will nonetheless pay for the incremental cost of drilling and completion in a matter of months and given the low decline rate profile of the J-Sand formation, will add significantly to our future reserves. The three J-Sand completed wells have Codell/Niobrara reserves behind pipe to be completed in the future.
"We are very pleased with our production progress and results of our 36 well program and we continue to increase our leasehold in the Wattenberg Field and the D-J Basin. We look forward to regularly updating our shareholders on our exciting progress.”
About Synergy Resources Corporation
Synergy Resources Corporation is a domestic oil and natural gas exploration and production company. Synergy’s core area of operations is in the Denver-Julesburg Basin, which encompasses Colorado, Wyoming, Kansas, and Nebraska. The Wattenberg field in the D-J Basin ranks as the 7th largest field in the U.S. in terms of proved gas reserves and 9th in production. Synergy continues to increase its acreage position in the Denver – Julesburg Basin with 17,147 gross acreage and 11,504 net acres under lease. Synergy has corporate offices in Platteville, Colorado and on 17th Street in downtown Denver. More company news and information is available at www.SYRGinfo.com.
This press release may contain forward-looking statements. The actual results could differ materially from a conclusion, forecast or projection in the forward-looking information. Certain material factors or assumptions were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking information.
Synergy Resources Corporation
William Scaff, 970-737-1073
or
Investor Relations:
GVC Advisors LLC
Jon Kruljac, 720-488-4711
jkruljac@gvcadvisors.com
Source: Business Wire (September 24, 2010 - 6:00 AM EDT)
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LecTec announces election of new board of directors
Sep. 24, 2010 (M2 Communications Ltd.) --
Intellectual property licensing and holding company LecTec Corporation (OTCBB:LECT) declared on Thursday that its shareholders have elected Gregory Freitag, Sanford Brink, Timothy Heaney, Kevin Lynch and Robert Rudelius as the new board of directors.
Shareholders also approved the company’s Stock Incentive Plan and ratified the selection of Lurie Besikof Lapidus & Company LLP as its independent registered public accounting firm for 2010.
After the shareholders’ meeting the new board of directors appointed Kevin Lynch as chairman of the board.
In conjunction with the change of board members, Dr. Daniel Sigg is stepping down as chief scientific officer of LecTec with effect from 30 September but will continue to be available to LecTec for any scientific, intellectual property or other technical matters.
(Comments on this story may be sent to info@m2.com)
Source: M2 Presswire (September 24, 2010 - 5:51 AM EDT)
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PASSUR Aerospace contracted by Salt Lake City International Airport for suite of airport solutions
Sep. 24, 2010 (M2 Communications Ltd.) --
Business intelligence company PASSUR Aerospace Inc (OTCBB:PSSR) yesterday announced that it has been selected by Salt Lake City International Airport to deliver a suite of airport solutions.
This contract covers the PASSUR Landing Fee Management program and the PASSUR Field Condition Reporting program, including eNOTAMs integration.
The PASSUR airport solutions are designed to deliver revenue optimisation and operational efficiency, safety and cost effectiveness for key airport users.
(Comments on this story may be sent to info@m2.com)
Source: M2 Presswire (September 24, 2010 - 5:22 AM EDT)
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MoneyTV with Donald Baillargeon, 9/24
Sep. 24, 2010 (Marketwire) --
LOS ANGELES, CA -- (Marketwire) -- 09/24/10 -- On location in San Diego, light fighting technology, sterilization industry, controlling computers with your brain, energy from waste; this week on MoneyTV with Donald Baillargeon. MoneyTV is the internationally syndicated television program all about money and what makes it happen, (http://www.moneytv.net), featuring informative interviews with company CEOs, providing insights into their operations and outlooks for their futures.
Free information packages from the featured companies can be requested by sending an email to info@moneytv.net.
The television program can also be viewed online immediately at www.moneytv.net.
Featured companies on this week's program include:
Laser Energetics, Inc. (PINKSHEETS: LNGT) CEO Robert Battis spoke of the company's Dazer Laser light fighting technology and the impressions they have made into the military and municipal government markets.
Medizone International, Inc. (OTCBB: MZEI) CEO Edwin Marshall announced new patent applications and described the company's transformation from product to industry.
GDT Tek, Inc. (PINKSHEETS: GDTK) President Bo Linton discussed the message the company brought to the Accredited Members' conference.
Accredited Members, Inc. Co-Chairman David Lavigne analyzed their successful San Diego conference.
Mind Technologies, Inc. (PINKSHEETS: JEDM) Director of Shareholder Communications Jeff Dashefsky talked about the potential applications of their mind-controlled software technology.
MoneyTV debuted in 1996 and is broadcast internationally in more than 170 million TV households in over 60 countries.
A complete menu of TV listings is available at the MoneyTV web site, http://www.moneytv.net
MoneyTV Executive Producer and Anchor Don Baillargeon is also the host of MoneyRap Radio, http://www.moneyrap.com and the television program Health This Week, http://www.healththisweek.com.
MoneyTV television program, Copyright MMX, all rights reserved. MoneyTV does not provide an analysis of companies' financial positions and is not soliciting to purchase or sell securities of the companies, nor are we offering a recommendation of featured companies or their stocks. Information discussed herein has been provided by the companies and should be verified independently with the companies and a securities analyst. MoneyTV provides companies a 3 to 4 month corporate profile with multiple appearances for a cash fee of $11,500.00 to $17,250.00, does not accept company stock as payment for services, does not hold any positions, options or warrants in featured companies. The information herein is not an endorsement by Donald Baillargeon, the producers, publisher or parent company of MoneyTV.
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Contact:
Donald Baillargeon
Executive Producer
MoneyTV
949 388 5267
Info@moneytv.net
Source: Marketwire (September 24, 2010 - 5:00 AM EDT)
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Oragenics Inc to introduce Teddy's Pride for pets in Canada
Sep. 24, 2010 (M2 Communications Ltd.) --
Biopharmaceutical company Oragenics Inc (OTCBB:ORNI) reported on Thursday that its oral care probiotic for cats and dogs, called Teddy’s Pride, will be made available in Canadian pet stores.
Under a new distribution agreement, pet products manufacturer and distributor Rolf C. Hagen Inc will introduce the product to its retail partners for sale in small and large pet stores throughout Canada.
According to Oragenics the active ingredient in its probiotic products, ProBiora3, naturally supports gum and tooth health while freshening breath and whitening teeth. ProBiora3 contains three strains of beneficial bacteria that help maintain a healthy microbial balance in the mouth. It is 100% natural and is made in the USA in an FDA-registered and GMP-certified facility.
(Comments on this story may be sent to info@m2.com)
Source: M2 Presswire (September 24, 2010 - 4:19 AM EDT)
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Oragenics Inc to introduce Teddy's Pride for pets in Canada
Sep. 24, 2010 (M2 Communications Ltd.) --
Biopharmaceutical company Oragenics Inc (OTCBB:ORNI) reported on Thursday that its oral care probiotic for cats and dogs, called Teddy’s Pride, will be made available in Canadian pet stores.
Under a new distribution agreement, pet products manufacturer and distributor Rolf C. Hagen Inc will introduce the product to its retail partners for sale in small and large pet stores throughout Canada.
According to Oragenics the active ingredient in its probiotic products, ProBiora3, naturally supports gum and tooth health while freshening breath and whitening teeth. ProBiora3 contains three strains of beneficial bacteria that help maintain a healthy microbial balance in the mouth. It is 100% natural and is made in the USA in an FDA-registered and GMP-certified facility.
(Comments on this story may be sent to info@m2.com)
Source: M2 Presswire (September 24, 2010 - 4:19 AM EDT)
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LecTec Corporation Announces Results of 2010 Shareholders Meeting
Sep. 23, 2010 (Business Wire) -- LecTec Corporation (OTCBB:LECT) announced today that its 2010 Shareholders Meeting was successfully held on Wednesday, September 22, 2010. At the meeting, LecTec shareholders elected Gregory Freitag, Sanford Brink, Timothy Heaney, Kevin Lynch and Robert Rudelius as the new Board of Directors. Shareholders also approved the LecTec Stock Incentive Plan and ratified the selection of Lurie Besikof Lapidus & Company, LLP as its independent registered public accounting firm for 2010.
After the Shareholders Meeting, the new Board of Directors took action to appoint Kevin Lynch as Chairman of the Board. The following committee appointments were also made: (a) Audit Committee, Tim Heaney - Chairman and Robert Rudelius – member, both “audit committee financial experts”; (b) Compensation Committee, Sanford Brink - Chairman and Kevin Lynch – member; and (c) Nominating & Governance Committee, Robert Rudelius – Chairman and Messrs. Freitag, Brink, Heaney and Lynch - members. In conjunction with the change of members of Board of Directors, Dr. Daniel Sigg is stepping down as Chief Scientific Officer of LecTec effective September 30, but will continue to be available to LecTec for any scientific, intellectual property or other technical matters.
Greg Freitag, LecTec’s CEO stated: “I want to thank the prior Board for their many years of supporting LecTec in their respective roles. The new Board and I look forward to continuing their work to bring continued value to our shareholders. I would also like to thank the Shareholders of LecTec for the support they have shown through their votes for the new members of the Board of Directors.”
About LecTec
LecTec is an intellectual property (“IP”) licensing and holding company with approximately $9.6M in cash at June 30, 2010. LecTec holds multiple domestic and international patents based on its original hydrogel patch technology and has also filed for a provisional patent for its hand sanitizer patch. The LecTec hydrogel patch technology allows for a number of potential applications, including its previously marketed TheraPatch® products, while its anti-microbial hand sanitizer patch is intended to be dry, thereby rendering the patch harmless in the event that it is licked, chewed, or exposed to the eye. An initial prototype of the hand sanitizer patch has been developed and LecTec intends to engage a strategic partner to complete its hand sanitizer patch development and bring it to market. LecTec also has a licensing agreement (“Novartis Agreement”) with Novartis Consumer Health, Inc., which pays royalties to LecTec from time to time, within the terms of the Novartis Agreement, based upon a percentage of Novartis’ net sales of licensed products. LecTec takes legal action as necessary to protect its IP and is currently involved in two patent infringement actions. Finally, LecTec is pursuing a merger/acquisition strategy with the intent to leverage its cash asset and improve shareholder value and liquidity. The Company’s website is www.lectec.com.
Cautionary Statements
This press release contains forward–looking statements concerning possible or anticipated future results of operations or business developments which are typically preceded by the words “believes,” “wants,” “expects,” “anticipates,” “intends,” “will,” “may,” “should,” or similar expressions. Such forward looking statements are subject to risks and uncertainties, which could cause results or developments to differ materially from those, indicated in the forward–looking statements. Such risks and uncertainties include, but are not limited to, the Company’s dependence on royalty payments from Novartis Consumer Health, Inc., which is selling an adult vapor patch licensed by the Company, the Company’s dependence on key personnel and Board of Director members, the Company’s pending patent infringement litigation against Chattem, Inc. and Prince of Peace Enterprises, Inc., the issuance of new accounting pronouncements, information disseminated on internet message boards from posters expressing opinions that may or may not be factual, the availability of opportunities for license, sale or strategic partner agreements related to patents that the Company holds, limitations on market expansion opportunities, and other risks and uncertainties detailed from time to time in the Company’s filings with the Securities and Exchange Commission, and particularly as described in the “Risk Factors” included in our Form 10–K for the year ended December 31, 2009.
LecTec Corporation
Greg Freitag, CEO/CFO, 903-832-0993
Source: Business Wire (September 23, 2010 - 8:31 PM EDT)
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Charter Financial Corporation Prices Stock Offering
Sep. 23, 2010 (PR Newswire) --
WEST POINT, Ga., Sept. 23 /PRNewswire-FirstCall/ -- Charter Financial Corporation (the "Company") (OTC Bulletin Board: CHFN), the holding company for CharterBank, announced today that it has concluded its stock offering pursuant to its Stock Issuance Plan. The Company will sell 4.4 million shares of common stock at $7.78 per share, for gross proceeds of approximately $34.2 million. Of the 4.4 million shares sold, approximately 1.1 million shares were sold in the Subscription and Community Offerings, and approximately 3.3 million shares were sold in the Syndicated Community Offering. The purchase price was determined by the Company's Board of Directors, in consultation with the Company's financial advisor, Stifel, Nicolaus & Company, Incorporated. All shares sold in the offering, including the Subscription Offering, the Community Offering and the Syndicated Community Offering, will be sold at $7.78 per share.
The Company anticipates consummating the stock offering on September 29, 2010. The Company also expects that shares of its common stock will begin trading on the NASDAQ Capital Market under the symbol CHFN on September 29, 2010, and will no longer be quoted on the OTC Bulletin Board.
Stock certificates will be mailed as soon as possible after the completion of the offering. All subscribers in the subscription and community offerings who properly completed and timely submitted a stock order form will be allocated the amount of common stock that they requested. Subscribers who did not elect to have the difference between the $10.52 offering price and the $7.78 actual purchase price applied to the purchase of additional shares will receive a refund. Subscribers who did elect to purchase additional shares will receive the full number of whole shares that the funds submitted by them allow. Refunds will be issued in lieu of fractional shares, and will be based on the method of a subscriber's payment.
At the completion of the offering, the Company will cancel a number of shares of its common stock held by First Charter, MHC, the Company's mutual holding company, equal to the number of shares sold in the offering. Accordingly, the 18,672,361 outstanding shares of Company common stock will not increase as a result of the stock offering, and the percentage of the Company's outstanding common stock held by its current shareholders other than First Charter, MHC will not be diluted. First Charter, MHC's 84.9% ownership interest in the Company will be reduced to approximately 61.4%, with the remaining 38.6% owned by public shareholders.
Charter Financial Corporation is a savings and loan holding company and the parent company of CharterBank, a full-service community bank. Charter Financial Corporation is headquartered in West Point, Georgia, and operates 16 branches on Interstate highways in West Georgia and East Alabama. Additional information regarding Charter Financial Corporation can be accessed on-line at www.charterbank.net.
This release may contain "forward-looking statements" that may be identified by use of such words as "believe," "expect," "anticipate," "should," "planned," "estimated," and "potential." Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include general economic conditions, either nationally or in our market areas, that are worse than expected; competition among depository and other financial institutions; changes in the interest rate environment that reduce our margins or reduce the fair value of financial instruments; adverse changes in the securities markets; changes in laws or government regulations or policies affecting financial institutions, including changes in regulatory fees and capital requirements; our ability to enter new markets successfully and capitalize on growth opportunities; our ability to successfully integrate acquired entities; our incurring higher than expected loan charge-offs with respect to assets acquired in FDIC-assisted acquisitions; changes in consumer spending, borrowing and savings habits; changes in accounting policies and practices, as may be adopted by the bank regulatory agencies and the Financial Accounting Standards Board; and changes in our organization, compensation and benefit plans.
This press release is neither an offer to sell nor a solicitation of an offer to buy common stock. The offer is made only by means of the written prospectus forming part of the registration statement. The shares of common stock being offered by Charter Financial Corporation are not deposits or savings accounts, may lose value and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency.
SOURCE Charter Financial Corporation
Robert L. Johnson, President & CEO, bjohnson@charterbank.net, or Curtis R. Kollar, Chief Financial Officer, ckollar@charterbank.net, both of Charter Financial Corporation, +1-706-645-1391; or Woody Wallace of The Investor Relations Company, +1-312-245-2700, wwallace@tirc.com, for Charter Financial Corporation
Source: PR Newswire (September 23, 2010 - 6:54 PM EDT)
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Dismissal of Lawsuit by Former Officer Affirmed by Appellate Court
Sep. 23, 2010 (PR Newswire) --
ORLANDO, Fla., Sept. 23 /PRNewswire/ -- GeneLink, Inc. (OTC Bulletin Board: GNLK), a leading consumer genomics biotech company, is pleased to report that the Superior Court of Pennsylvania has affirmed the dismissal of the complaint filed by the Company's former CEO and President, John DePhillipo, and his wife (collectively, the "DePhillipos") against the Company, its subsidiary GeneWize Life Sciences, Inc., and several of the Company's officers, directors and advisors (collectively, the "GeneLink Parties"). The DePhillipos' appeal arose from the May 5, 2009 Order and Opinion of the Court of Common Pleas of Pennsylvania, Philadelphia County wherein that Court dismissed the DePhillipos' claims as unviable.
About GeneLink BioSciences, Inc.:
GeneLink BioSciences is a genomics, biotechnology, and wellness company engaged in genetic profile development, product development, business development and support services for its subsidiaries and distribution partners. GeneLink's patented and patent pending technologies include proprietary genetic assessments and products linked to personalized health, beauty and wellness applications. For additional information, please visit www.genelinkbio.com.
This release contains certain 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. With the exception of historical information contained herein, the matters discussed in the press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement. GeneLink disclaims any intention or obligation to revise any forward-looking statements, whether as a result of new information, future developments or otherwise.
SOURCE GeneLink BioSciences, Inc.
Gary Beeman, CEO, GeneLink, 1-800-558-4363, gbeeman@genelinkbio.com, or Investor Relations, +1-407-772-7164, IR@genelinkbio.com
Source: PR Newswire (September 23, 2010 - 6:48 PM EDT)
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Siga Resources Appoints a New Director, President & CEO
Sep. 23, 2010 (Marketwire) --
SOUTH LAKE TAHOE, CALIFORNIA -- (Marketwire) -- 09/23/10 -- Siga Resources Inc. (OTCBB: SGAE) is pleased to announce the appointment of Edwin Morrow to the company's Board of Directors to replace the vacancy created by the resignation of Mr. Arun Kumar as Director and President. Mr. Morrow accepts the position of President and Chief Executive Officer (CEO).
Mr. Morrow is an accomplished mining professional with over 35 years of experience in the exploration and development of mineral deposits. Mr. Morrow has held line, executive and consulting positions in the mining and minerals industry.
Mr. Morrow managed Laminco Resources Inc, (a TSE listed public company) beginning in October of 1995 as President and Chief Operating Officer. He was named Chief Executive Officer in September of 1996. Laminco developed precious metals and copper resources in Canada, and North and South America. Laminco Resources was merged with a Norwegian public company in 2001, and he served as Chief operating officer and served on the Board of Directors of the merged company until December 2005.
From 1993 to late 1995 Mr. Morrow was Director of Geology Services at Homestake Mining Company's flagship operation in Lead, South Dakota. In this position he was responsible for the mine's geology, exploration and grade control programs. The Homestake mine, in operation for over 120 years, produced in excess of 500,000 ounces of gold annually from both underground and open pit sources.
In 1981, Mr. Morrow was retained to lead a new US based hard minerals division for Asamera Oil Inc, a Canadian Oil producer. Within 36 months and starting with one assistant, the US minerals division grew into a producer with over 250 employees. Until Mr. Morrow left Asamera Minerals U.S., Inc. in 1993, he held multiple positions including General Manager Minerals, and General Manager of Exploration and Acquisition. Asamera held interests in precious metals, strategic and industrial minerals projects. Asamera was working globally and had active projects in Canada, the USA, Mexico, Guatemala, West Germany, South East Asia and Australia. Under Mr. Morrow's direction, Asamera discovered and placed into production the Cannon Gold Mine in Wenatchee Washington, U.S.A. Asamera also acquired and operated the Gooseberry Mine, an underground gold/silver property near Reno, Nevada.
Mr. Morrow's knowledge and experience will help accelerate the development of Siga's mineral assets. He reinforces the company's commitment to research, acquire and develop precious metal properties in Fiji and throughout North and South America.
About Siga Resources Inc.
Siga Resources Inc. is a mineral resource exploration and development company holding a 100% interest in the Valolo Gold Claim located in the Republic of Fiji. Siga is targeting properties that have the potential for early positive cash flow. Siga is presently reviewing a number of precious metal properties that are near-to, or in production, located in North and South America. Siga, founded in 2007, is based in South Lake Tahoe, California.
Forward-Looking Statements
You should not place undue reliance on forward-looking statements in this press release. This press release contains forward-looking statements that involve risks and uncertainties. Words such as "will", "anticipates", "believes", "plans", "goal", "expects", "future", "intends", and similar expressions are used to identify these forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks we face as described in this press release.
Contacts:
Siga Resources Inc.
Edwin Morrow
Director
1-530 577-4141
Source: Marketwire (September 23, 2010 - 6:09 PM EDT)
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Alpha Software Testing Successfully Finished for Healthmed Services' Virtual Vantage Software
Sep. 23, 2010 (PR Newswire) --
SUNNYVALE, Calif., Sept. 23 /PRNewswire/ -- Healthmed Services, Ltd. (OTC QB: HEME), an innovative software and application development company, is excited to announce the successful completion of the Alpha phase of Virtual Vantage.
Virtual Vantage is a remote access software created for the healthcare industry and professionals allowing remote and stationary access from handheld devices, such as the iPad, to servers and both stationary PC and Apple computers in all healthcare facilities such as hospitals, doctor offices, clinics and pre and post patient care facilities.
Director John Popovic, committed to developing this software since coming onboard earlier this year, has now achieved this goal. The overall acceptance and growing success of the iPad in the healthcare industry supports the Company's objective to increase convenience and efficiency through the use of technology that is now being required for today's healthcare professionals.
The Company anticipates Virtual Vantage will be available for additional beta testing via download in early October 2010.
For more information on the Company and its products, you may visit the Company's website at www.healthmedltd.com.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed with the Securities and Exchange Commission.
SOURCE Healthmed Services, Ltd.
Dale Paisley, Chief Financial Officer of Healthmed Services, Ltd., 1-866-428-5689, dpaisley@healthmedltd.com
Source: PR Newswire (September 23, 2010 - 5:40 PM EDT)
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Global Investor Services, Inc. Executes Agreement for Global Expansion Into Asian Markets
Sep. 23, 2010 (Marketwire) --
NEW YORK, NY -- (Marketwire) -- 09/23/10 -- Global Investor Services, Inc. (OTCBB: GISV) ("Global") executed a Sales Agency Agreement with The Cougar Group, a corporation with headquarters in Hong Kong and affiliate firms in all 12 Asian markets. With the assistance of The Cougar Group, the Company intends to expand its premier product line, InvestView, to Asian investors, both private individual and professional money managers. Translation of the extensive content within InvestView tools is underway to address the local language requirements in Japan, China and Korea and planned release dates of the translated content are in the next quarter ending December 31, 2010.
"We are impressed with the extensive network The Cougar Group has in Asia. The Cougar Group has advised that it has approached major stock brokerage firms throughout the Asian markets and received positive responses. We are crafting a technology roadmap that will deliver InvestView content to Asian investors in various phases. Starting with the current USA market centric content, future phases intend to provide Asian investors with local market investment content. Accordingly, Korean individual investors following US equities will now have access to InvestView technology to analyze and improve their investing activities. And, in a future technology release phase, we intend to offer Korean investors access to other Asian market investment information via InvestView," said Nick Maturo, CEO of Global Investor Services, Inc.
"The Cougar Group consists of affiliate firms throughout Asia specializing in bringing leading edge information technology from the USA to 10 Asian markets. In certain markets, e.g. Australia, our affiliates have over 35 years' operating experience with extensive reseller and customer support infrastructures. Since July 2010 we rigorously reviewed the InvestView technology and approached the leading financial services firms in Tokyo, Seoul, Shanghai, Hong Kong, Jakarta, Mumbai and Sydney and received unanimous positive feedback and demand for an 18-month technology roadmap with future releases incorporating local equity markets in local language. We are convinced the technology and delivery uptake in Asian markets will be fast paced and exceed other US technologies in the region," explained David Fender, CEO of The Cougar Group.
About Global Investor Services, Inc:
Global Investor Services, Inc. provides and delivers a comprehensive on-line program of investor education through its InvestView brand, offers proprietary investor search tools and trading indicators, distributes weekly newsletters, offers access to a live "state of the art" weekly Trading Room. www.investview.com
Forward-Looking Statements
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as disclosed in our filings with the Securities and Exchange Commission located at their website (http://www.sec.gov). In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.
For more information, please contact:
Global Investor Services, Inc.
William Kosoff
CFO
Tel: (212) 227-2242
www.GISVonline.com
Source: Marketwire (September 23, 2010 - 5:32 PM EDT)
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Idaho First Bank Enters Into Agreements to Sell up to $6.9 Million of Common Stock in Private Placements
Sep. 23, 2010 (Marketwire) --
MCCALL, ID -- (Marketwire) -- 09/23/10 -- Today Idaho First Bank (OTCBB: IDFB) reported that it has entered into Securities Purchase Agreements ("Agreements") with certain directors, executive officers, and a founding director/shareholder for the purchase of $1.2 million of the Bank's common stock. Along with these written commitments the Bank is negotiating additional Agreements of $1.0 million. The Bank expects these additional Agreements will be finalized by September 27th. The private placement of stock is expected to increase capital by a minimum of $5.46 million in new capital at a price of $.42 per share. Upon completion of the sale of common stock the Bank anticipates achieving the capital level required under the Consent Order with the State of Idaho's Department of Finance ("IDF") and the Federal Deposit Insurance Corporation ("FDIC"). Management believes the amount of stock purchased, and which is committed to be purchased pursuant to the Agreements, will be sufficient to meet the terms of the Supervisory Prompt Corrective Action Directive which was issued by the FDIC on August 20, 2010.
"We are encouraged that 100 percent of our directors and executive officers have chosen to re-invest additional capital into the Bank. We also are pleased with the stock purchase by a founding director/shareholder. These individuals have a high level of commitment to McCall and our surrounding area," said Greg Lovell, President and CEO of the Bank. The additional capital will be used to support continuing operations and the lending and deposit activity of the Bank. Jerry Jutting, McCall Area President and the Bank's Chief Credit Officer, said, "We continue to seek well-qualified loan applicants thereby earning a return for our depositor's money: the funding source for our local loans. We help our community's economics by smart investing of our local deposit base." Dan Krahn, Bank Director, observed, "We are enthusiastic as we look to the future. Our deposit base has grown during the year as our depositors continue to have confidence in our Bank."
"We are pleased to see the Bank attract new capital and continue to serve its community," stated Gavin Gee, Director, Idaho Department of Finance. Director Gee further said, "As with all Idaho state chartered banks, we will continue to closely monitor the financial progress of the Bank and will work closely with its directors and management as they continue the Bank's progress."
The Agreements are subject to several closing conditions, including, among others; the completion of the private placements and receipt of aggregate proceeds of at least $5.46 million by September 30, 2010; and receipt of the necessary regulatory approvals.
Idaho First Bank is the only locally chartered and headquartered bank in McCall, Idaho. Founded in 2005 it operates a full-service community focused bank in McCall and a loan production office in Boise, Idaho.
This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 ("PSLRA"). Such forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, economic conditions, the regulatory environment, loan concentrations, vendors, employees, technology, competition, and interest rates. Readers are cautioned not to place undue reliance on the forward-looking statements. Idaho First Bank has no obligation to publicly update the forward-looking statements after the date of this release. This statement is included for the express purpose of invoking PSLRA's safe harbor provisions.
Contacts:
Greg Lovell
President and CEO
208-630-2001
Don Madsen
CFO
208-947-0430
Source: Marketwire (September 23, 2010 - 5:03 PM EDT)
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Mogul Energy International, Inc. Announces the Cancellation of the Letter of Intent Agreement With Powderhorn Energy, LLC and the Funding of Two Wells From Other Sources
Sep. 23, 2010 (Marketwire) --
SEATTLE, WA -- (Marketwire) -- 09/23/10 -- Mogul Energy International, Inc. ("Mogul") (OTCBB: MGUY) (FRANKFURT: BKX) announced it has cancelled the Letter of Intent ("LOI") with Powderhorn Energy, LLC of Denver, Colorado and its financial partners (collectively "Powderhorn"). Powderhorn was unsuccessful, after several extensions to the LOI agreement, in securing the necessary funding for this drilling program.
With the cancellation of this LOI, Mogul has a commitment of funds from two additional sources to partially fund the drilling of the first two prospects in its current inventory of prospects. Additional discussions are currently taking place with other potential funding sources to equal or exceed Mogul's investment in each of these wells.
Mogul is continuing with the acquisition of the necessary oil, gas and mineral leases on each of these initial prospects. The requisite state permits to drill will be secured from the Texas Railroad Commission upon completion of the leasing and title clearance.
Information concerning Mogul Energy International, Inc.:
Mogul Energy International, Inc. ("Mogul") is an oil and gas exploration company with headquarters in Seattle, Washington. The common shares of Mogul are quoted on the OTC Bulletin Board (OTCBB) system under the symbol "MGUY," and the Frankfurt Stock Exchange ("FSE") under the symbol 'BKX.' Further information concerning Mogul can be found in the Company's filings with the U.S. Securities and Exchange Commission (http://www.sec.gov).
Forward-Looking Statements:
This news release contains "forward-looking statements" within the meaning of the securities laws, which are based on current expectations and beliefs, as well as on a number of assumptions concerning future events made with information that is currently available. Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Inherent in Mogul Energy International, Inc.'s ("Mogul") business plan is a belief that Mogul can successfully explore oil and gas properties in Canada and the United States, and that Mogul can participate in the development of those properties. Readers are cautioned not to put undue reliance on such forward-looking statements, which are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside of Mogul's control, which could cause actual results to differ materially from such statements. For a more detailed description of the factors that could cause such a difference, please refer to Mogul Energy's filings with the U.S. Securities and Exchange Commission. Mogul assumes no obligation to update or supplement such forward-looking statements other than as required by law.
Contact Information:
Company Contact
Naeem Tyab
Mogul Energy International, Inc.
Tel: 206-357-4220
naeem@mogulenergy.com
http://www.mogulenergy.com
Source: Marketwire (September 23, 2010 - 4:33 PM EDT)
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GHN Agrispan Signs Agreement with Internationally Recognized Fortune 100 Retail Giant in China
Initial One-Year Supplier Agreement Automatically Renewable for
Consecutive Annual Terms
Sep. 23, 2010 (Business Wire) -- GHN Agrispan Holding Company (OTCBB:GHNA), an emerging company engaged in China’s high-growth agriculture, prepared foods and catering industries, today announced that it has signed a supplier agreement with an internationally recognized Fortune 100 retail giant in China.
The supplier agreement, signed July 29, 2010 allows GHN Agrispan, upon receipt of a purchase order, to sell certain of its products to the retail giant for resale at the retailer’s locations throughout the PRC. The agreement has an initial term of one year and, so long as neither party provides written termination, the agreement automatically renews for consecutive one year periods.
“We are very excited to announce an agreement with a Fortune 100 enterprise,” commented Ms. Xu Yizhen, CEO of GHN Agrispan. “As one of the most highly-respected international corporations in mainland china, we are pleased to provide this retailer with our fresh agricultural products and prepared foods. We hope this partnership will flourish over the next several years, and we expect to generate substantial growth as we roll out new products and services that expand and deepen our relationships with this client’s customer base in China.”
Ms. Yizhen continued, “After years of deploying best-of-industry practices, we have positioned GHN Agrispan to capitalize on China’s growing middle class and their increasing desire for quality food products that are free of toxins and pollutants and provide a healthy alternative to heavily processed foods. We look forward to providing our investors regular news about our growing operations in China, in addition to any updates on our relationship with this Fortune 100 enterprise.”
For more information on specific terms of this agreement, please refer to GHN Agrispan’s recently filed 8-K by searching for the filing on the SEC website at www.sec.gov, or by navigating directly to the 8-K using the following link: http://www.sec.gov/Archives/edgar/data/1472688/000101968710003445/ghn_8k.htm
About GHN Agrispan Holding Company
Based in Xiamen City, China, GHN Agrispan Holding Company (OTCBB:GHNA) is an emerging Chinese operating company engaged in the high-growth agriculture, prepared foods and catering industries in China. GHN Agrispan has positioned itself to capitalize on China’s burgeoning middle class through an increasing desire for healthy food products that are free of toxins and pollutants, as well as the China’s booming catering industry, which is currently experiencing growth in the double digits. GHN Agrispan’s catering group is recognized as one of the most reputable catering services in Xiamen. The company places a strong emphasis on food safety, selling its premium products and services to target clients including: US Fortune 500 companies, European multi-national firms, as well as established Chinese private enterprises and government institutions such as banks and schools. In addition, the output from the GHN Agrispan’s fresh fruit, vegetables and other planting bases is purchased by major national supermarkets and first-tier wholesalers in developed cities throughout China.
For more information please visit the website for GHN Agrispan’s wholly-owned subsidiary, Yidong Group: www.ghnagrispan.com/en
Forward-Looking Statements
This release contains "forward-looking statements" for purposes of the Securities and Exchange Commission's "safe harbor" provisions under the Private Securities Litigation Reform Act of 1995 and Rule 3b-6 under the Securities Exchange Act of 1934. These forward-looking statements are subject to various risks and uncertainties that can affect GHN Agrispan’s operating results, liquidity and financial condition or otherwise cause GHN Agrispan’s actual results to differ materially from those forecasted. Such factors include risks associated with economic, weather, public health and other factors affecting consumer spending, including negative changes to consumer confidence and other recessionary pressures, higher energy and labor costs, the successful implementation of GHN Agrispan’s growth strategy, including the ability of GHN Agrispan to finance its expansion plans and the mix and pricing of goods sold. The identified risk factors and other factors and risks that may affect GHN Agrispan’s business or future financial results are detailed in its filings with the Securities and Exchange Commission. These cautionary statements qualify all of the forward-looking statements GHN Agrispan makes herein. GHN Agrispan cannot assure you that the results or developments anticipated by it will be realized or, even if substantially realized, that those results or developments will result in the expected consequences for it or affect it, its business or its operations in the way it expects. GHN Agrispan cautions you not to place undue reliance on these forward-looking statements, which speak only as of their respective dates. GHN Agrispan does not undertake an obligation to update or revise any forward-looking statements to reflect actual results or changes in the GHN Agrispan’s assumptions, estimates or projections.
Company Contact:
GHN Agrispan Holding Company
Kenneth Ma, Executive Director
+86-136-660-1113
or
Financial Communications Contact:
Trilogy Capital Partners
Darren Minton, President
Toll-free: 800-592-6067
info@trilogy-capital.com
Source: Business Wire (September 23, 2010 - 4:22 PM EDT)
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Pervasip Featured on StockGoodies.com
Sep. 23, 2010 (Business Wire) -- Pervasip Corp. (OTCBB: PVSPD), a provider of wholesale Voice over Internet Protocol (VoIP) and smartphone applications, announced today that its CEO Paul Riss and CIO Mark Richards will be the featured guest interview on the fastest growing stock trading community, StockGoodies.com Radio. The interview will be held today at 8:00 p.m. EDT.
The interview can be heard at http://www.blogtalkradio.com/stockgoodies. The archived version can be found on the homepage of www.StockGoodies.com.
Pervasip sells downloadable mobile VoIP applications to smartphone users so they can have a second phone line on their mobile phone, with its own telephone number, voice mail, and other typical features such as anonymous call rejection, call blocking and call forwarding. VoX Mobile is truly a second line, as it does not use costly voice-plan minutes, but instead runs over the data side of the 3G network or over WiFi. Consumers can choose calling plans starting at $4.95 per month.
StockGoodies is a leading publisher of news, perspective, and marketing intelligence on all forms of equity trading: pennies, micro-cap, mid and large cap and options. The company's vision is to empower self-directed investors by narrowing the gap between individual traders and professionals.
About Pervasip
Pervasip Corp. delivers wholesale VoIP telephone services through its wholly owned subsidiary, VoX Communications, for the residential and small business markets. Leveraging a nationwide VoIP network and internally developed proprietary software and product features, it recently entered the mobile VoIP services and applications arena, which is expected to approach 300 million users by 2013. It offers a feature-rich, low-cost, high-quality alternative to traditional phone services. For more information, please visit www.voxcorp.net or http://www.facebook.com/#!/pages/VoX-Mobile/152361704775114?v=app_95936962634&ref=ts for the company’s video contest on Facebook.
Forward-looking statements: This release contains forward-looking statements that involve risks and uncertainties. Pervasip’s actual results may differ materially from the results discussed in the forward-looking statements. Factors that might cause such a difference include, among others, certain risks and uncertainties over which the company may have no control. For further discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see the discussions contained in Pervasip’s Annual Report on Form 10-K for the year ended November 30, 2009 and any subsequent SEC filings.
For StockGoodies Radio
Cheri Kennedy, 407-397-3318
or
AT PERVASIP:
Paul H. Riss, 212-404-7633
Chief Executive Officer
phriss@pervasip.com
Source: Business Wire (September 23, 2010 - 4:01 PM EDT)
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Diversified Restaurant Holdings to Participate in the Telsey Advisors Group's Consumer Conference
Projects 2010 Revenue to more than double to range of $42 to $44
million
Sep. 23, 2010 (Business Wire) -- Diversified Restaurant Holdings, Inc. (OTCBB: DFRH) (“DRH” or the “Company”), the owner/operator and franchisor of the unique, full-service, ultra-casual restaurant and bar, Bagger Dave’s Legendary Burgers & Fries® (“Bagger Dave’s”), and a leading franchisee for Buffalo Wild Wings® (“BWW”), announced today that Michael Ansley, President and CEO, will participate in the Restaurants Franchise Panel at the Telsey Advisors Group’s upcoming Consumer Conference in Las Vegas, Nevada, on September 29, 2010. Mr. Ansley, along with CFO David Burke, will also present to and meet with interested investors at the conference, where they plan discuss revenue expectations for 2010 of $42 to $44 million, more than double revenue of $19.1 million in 2009. The growth is largely being driven by the Company’s February 2010 acquisition of nine previously–managed stores.
Mr. Ansley is highly regarded among franchisees in the U.S. and has earned many accolades during his 15 years as a franchisee for BWW, including the company’s most prestigious Scott Lowery Franchise Development Award. Today DRH operates 18 successful BWW stores, 13 in Michigan and 5 in Florida, with planned openings in Ft. Myers and Lakeland, Florida, in November 2010 and January 2011, respectively, and Traverse City, Michigan, in January 2011. The Company expects to operate a total of 38 BWW stores in Michigan and Florida by 2017 under its Area Development Agreement with Buffalo Wild Wings International. In addition, DRH currently operates three Bagger Dave’s restaurants in Michigan: Berkley, Ann Arbor, and Novi. A fourth location is scheduled to open, in Brighton, Michigan, in January of 2011.
The Consumer Conference will feature companies across sectors, ranging from broadlines, hardlines, luxury goods, specialty stores, restaurants and gaming and lodging and will be well-attended by investment professionals including analysts, portfolio and mutual fund managers and investment advisors. Almost 400 investors attended the Telsey conference in April 2010.
About Diversified Restaurant Holdings
DRH is a leading BWW® franchisee, currently operates 18 BWW restaurants (five in Florida and 13 in Michigan), with the 19th scheduled to open in the fourth quarter of 2010, and the 20th and 21st scheduled to open in the first quarter of 2011. DRH is also the recipient of many franchise awards, including an award for the Highest Annual Restaurant Sales.
The Company also owns and operates its own unique, full-service, ultra-casual restaurant and bar concept, Bagger Dave’s, which was launched in January 2008. The concept focuses on local flair with the interior showcasing historic photos of the city in which it resides. Bagger Dave’s offers a full-service, family-friendly restaurant and bar with a casual, comfortable atmosphere. The menu features freshly made burgers (never frozen), accompanied by more than 30 toppings from which to choose, fresh-cut fries, hand-dipped milkshakes, and a selection of craft beer and wine. Signature items include Sloppy Dave’s BBQ®, Train Wreck Burger®, and Bagger Dave’s Amazingly Delicious Turkey Black Bean Chili®. There’s also an electric train that runs above the dining room and bar areas. All current and future locations will be smoke-free. Currently, there are three locations in the State of Michigan, with the fourth scheduled to open in the fourth quarter of 2010. DRH has filed for rights, and has been approved, to franchise Bagger Dave’s in the States of Michigan, Indiana, Ohio, and Illinois. For more information, please visit www.baggerdaves.com.
DRH routinely posts news and other important information on its Web site at www.diversifiedrestaurantholdings.com.
Safe Harbor Regarding Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects,” “estimates,” “projects,” “anticipates,” “believes,” “could,” and other similar words. Forward-looking statements are based upon the current beliefs and expectations of management. All statements addressing operating performance, events, or developments that DRH expects or anticipates will occur in the future, including but not limited to franchise sales, restaurant openings, financial performance, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company’s business units, or the market price of its common stock are forward-looking statements. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. Actual results may vary materially from those contained in forward-looking statements based on a number of risk factors and uncertainties including, without limitation, our ability to operate in new markets, the cost of commodities, the success of our marketing and other initiatives to attract customers, customer preferences, operating costs, economic conditions, competition, the availability of financing for franchisees and the Company, and the impact of applicable regulations. These and other risk factors and uncertainties are more fully described in the Company’s most recent Annual and Quarterly Reports filed with the Securities and Exchange Commission. Undue reliance should not be placed on the Company’s forward-looking statements. Except as required by law, DRH disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release.
Investor:
Kei Advisors LLC
Deborah K. Pawlowski / James M. Culligan
716-843-3908 / 716-843-3874
Email: dpawlowski@keiadvisors.com / jculligan@keiadvisors.com
or
Diversified Restaurant Holdings, Inc.
David G. Burke, 248-223-9160
Chief Financial Officer
dgburke@baggerdaves.com
Source: Business Wire (September 23, 2010 - 3:51 PM EDT)
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Supreme Drilling Encounters Sulphide Mineralization
Sep. 23, 2010 (Marketwire) --
COQUITLAM, BRITISH COLUMBIA -- (Marketwire) -- 09/23/10 -- SUPREME RESOURCES LTD. (TSX VENTURE: SPR) (OTCBB: SPRWF) (the "Company") is pleased to announce the completion of the first three drill holes at the Verde project that contain fine-grained sulphide mineralization. The drilling is designed to test the copper-silver-gold mineralization exposed in trench 1 at the Verde project. To date, 260 metres of a 500 metre program have been completed.
The Verde project is located 14 kilometres south of Princeton, British Columbia and adjacent to the east of the holdings of Copper Mountain Mining Corporation's Copper Mountain mine. The current 2010 measured and indicated resources at the Copper Mountain mine are 518.6 million tons of 0.31% Cu containing 3.2 billion pounds of copper with gold-silver credits. The Copper Mountain mine is 75 percent owned by Copper Mountain Mining Corporation and 25 per cent owned by Mitsubishi Materials Corporation. The construction of the Copper Mountain mine is on schedule for full production in June of 2011.
The Verde trench 1 sampling returned over a 14.5 metre interval grades averaging 0.34% copper, 4.54 grams/tonne silver and 0.032 gram/tonne gold, including 9 metres averaging 0.49% copper, 6.86 grams/tonne silver and 0.046 grams/tonne gold as previously disclosed in the Company's press release dated April 7, 2010. Malachite, limonite, chalcopyrite and magnetite occur along fractures and as disseminations within moderately fractured diorite of the Voigt stock.
The drill hole data is as follows:
----------------------------------------------------------------------------
Drill Hole Easting Northing Zone Elevation Azimuth Inclination EOH
(metres asl) (metres)
----------------------------------------------------------------------------
V10-01 682757 5470399 10N 1119 214 -65 122.53
----------------------------------------------------------------------------
V10-02 682762 5470398 10N 1119 186 -61 51.56
----------------------------------------------------------------------------
V10-03 682766 5470398 10N 1119 170 -61 85.95
----------------------------------------------------------------------------
Drill hole V10-01 has been logged and sampled, and the samples submitted to Eco Tech Laboratory Limited of Kamloops, BC for analysis. Logging and sampling of drill holes V10-02 and V10-03 is in progress.
Grant F. Crooker, P.Geo. (geologist) is the qualified person as defined by national Instrument 43-101 who supervised the preparation and verification of the technical information in this release.
Upon completion of the Verde drilling program, crews and drillers will be mobilized to the Company's TAS North Project, which is located less than 1 km in distance and borders Copper Mountain Mining Corporation's Oriole Area.
In 2008, Copper Mountain Mining Corp. reported that from the Oriole Area, drill hole CM08OL-17 intersected 119 feet (36.3 m) grading 2.10% Cu, 0.10 g/t Au, and 22.7 g/t Ag (2.31% Cu Equiv.).
August 5, 2010 Copper Mountain Mining Corp. announced a two phased 10,000 meter drill program to provide more drill information for detailed mine design and to upgrade the mine optimization in the Oriole Area and Pit 2 Area (see news at http//www.cumtn.com/site/news/index.php)
Diamond drilling should begin on the TAS North Project in approximately two weeks.
ON BEHALF OF THE BOARD
Allan Levien, President and Chief Executive Officer
About Supreme Resources Ltd.:
Supreme Resources Ltd. (TSX VENTURE: SPR) is a junior exploration company with advanced base and precious metals projects located in producing mining districts of British Columbia, Canada. Supreme Resources' goal is to increase shareholder value by developing exploration projects that have the potential of becoming new discoveries.
Website: www.supremeresourcesltd.com
About Copper Mountain Mining Corp.
Copper Mountain is a Canadian resource company managed by an experienced team of professionals with a solid track record of exploration and development success. The Company's shares trade on the Toronto Stock Exchange under the symbol "CUM". Copper Mountain owns 75% and Mitsubishi Materials Corporation owns 25% of the Copper Mountain mine. The 18,000 acre mine site is located 20 km south of the town of Princeton in southern British Columbia. The Copper Mountain mine has a current resource of approximately 5 billion pounds of copper. Currently, the project is fully financed ($438M) and in construction. Pre-production mining activities are underway and construction is on schedule for the mine to produce approximately 100 million pounds of copper per year by mid 2011. Additional information is available on the Company's web page at www.CuMtn.com
Statements in this press release other than purely historical factual information, including statements relating to revenues or profits, or the Company's future plans and objectives, or expected sales, cash flows, and capital expenditures constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in the technology history. There can be no assurance that such forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on such statements. Except in accordance with applicable securities laws, the Company expressly disclaims any obligation to update any forward-looking statements or forward-looking statements that are incorporated by reference herein. This news release does not constitute an offer to sell, or a solicitation of an offer to buy any of the Company's securities set out herein in the United States, or to, or for the benefit or account of, a U.S. Person or person in the United States.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Supreme Resources Ltd.
Bill Percy
604-942-8940
Supreme Resources Ltd.
Allan Levien
CEO/President
604-941-3716
aelevien@supremeresourcesltd.com
www.supremeresourcesltd.com
Source: Marketwire (September 23, 2010 - 3:46 PM EDT)
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Proper Power & Energy Provides Corporate Update
Sep. 23, 2010 (PR Newswire) --
TAMPA, Fla., Sept. 23 /PRNewswire/ -- Proper Power & Energy, Inc., (OTC Bulletin Board: PPWE) announced today that the Company has been conducting meetings all week to decide on a variety of issues including recent joint venture proposals in Kentucky and California. The company has retained Howard Dunn, P.E. Chem, B Sc. G.E., M Sc. MT E of Meridian, Idaho to review and determine the suitability of each proposal.
Mr. Dunn is a well respected petroleum engineer with past experience with oil and gas exploration in the states of Kentucky, North Dakota, Utah and Texas, as well as countries in South America. He is a graduate of the Colorado School of Mines and is a leader in the development of downstream gas-to-liquids process (GTL) facilities, and is a member of the Society for Petroleum Engineers.
Also, the Company and its Board of Directors continues to evaluate and discuss the possibility of a shareholders' dividend as previously discussed in July of this year.
About Proper Power & Energy:
Proper Power & Energy was formed in 2006 as an exploration and production company for oil and gas. The organization is committed to utilizing a very dynamic system of research and testing, and as a result of this extensive research and testing, have selected several sites with very good to excellent potential for productivity.
Safe Harbor Statement:
Certain statements made in this press release constitute forward-looking statements that are based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates" and variations of these words and similar expressions are intended to identify forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors. All forward-looking statements speak only as of the date of this press release and the company does not undertake any obligation to update or publicly release any revisions to forward-looking statements to reflect events, circumstances or changes in expectations after the date of this press release.
Contact Information
Corporate: Nicole Propp
Nicole@properpower.com
Investor Contact: Daniel Conway
DC Consulting, LLC
(407) 792-3332
investorinfo@dcconsultingllc.com
SOURCE Proper Power & Energy, Inc.
Corporate: Nicole Propp, Nicole@properpower.com; Investor: Daniel Conway, DC Consulting, LLC, +1-407-792-3332, investorinfo@dcconsultingllc.com
Source: PR Newswire (September 23, 2010 - 3:26 PM EDT)
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Pacific Blue Energy Corp. Provides Update on Acquisition of Gila Bend Property
Sep. 23, 2010 (PR Newswire) --
PHOENIX, Sept. 23 /PRNewswire-FirstCall/ - Pacific Blue Energy Corp. (OTCBB: PBEC), a publicly traded developer of renewable energy projects, today announced that an option for the purchase of 100 acres in the town of Gila Bend in Maricopa County, Arizona has been extended to December 10, 2010 from the original closing date of September 10, 2010.
When the sale is final, PBEC plans to take advantage of the town's favorable support for renewable energy by building a utility-scale solar energy project. That support, which was previously expressed by members of the Gila Bend Town Council in a past news release, will hopefully provide an opportunity for PBEC to fast-track the permitting process.
"This land will be an important part of PBEC's portfolio," says PBEC CEO Joel Franklin. "With Gila Bend's commitment to the solar industry, PBEC is interested in capitalizing on the opportunity to expand its ability to deliver renewable energy to the region."
In order to secure the extension on the purchase of the 100 acres, PBEC had to cancel the option on the 707 acres adjacent to that property. However, the Company's intention remains to purchase and develop all 807 acres.
About Pacific Blue Energy Corp.
Pacific Blue Energy Corp. (PBEC) is a publicly traded solar energy company that seeks to build and manage large renewable energy projects. PBEC's goal is to maximize shareholder value through select property acquisition, timely renewable energy facility construction and informed management of those projects. Headquartered in Arizona, one of the prime solar energy markets in the United States, PBEC is positioned to take advantage of technological advances that will drive the coming surge in the U.S. solar generated electricity market.
More information is available at www.PacificBlueEnergyCorp.com
Safe Harbor for Forward-Looking Statements
Statements that are not statements of historical or current fact constitute "forward-looking statements." Such statements can often be identified by use of words such as "believe," "expect," "estimate," "intend," "anticipate," "plan," to be uncertain and forward-looking. Forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause our actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with: (i) future financial results and financing requirements; (ii) our ability to control and manage our growth; (iii) the effectiveness, profitability, and marketability of our current and prospective products and services; (iv) our ability to protect proprietary information; (v), the impact of current, pending, or future legislation and regulation on our industry; and (vi) the impact of competitive products, services, pricing or technological changes. Additional risks and forward-looking statements are set forth from time to time in our filings with the United States Securities and Exchange Commission; including our Annual Reports on Form 10-K and our quarterly reports on form 10-Q, which are available on the Commission's website at www.sec.gov. All forward-looking statements included are made as of the date of this information, and we assume no obligation to update any such forward-looking statements.
SOURCE Pacific Blue Energy
Cheryl Bame, Bame Public Relations, 310-312-8800, Cheryl@BamePR.com
Source: PR Newswire (September 23, 2010 - 3:23 PM EDT)
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Tiger Oil and Energy, Inc. Changes Name From UTEC, Inc.
Sep. 23, 2010 (Marketwire) --
LAS VEGAS, NV -- (Marketwire) -- 09/23/10 -- Tiger Oil and Energy, Inc.'s (OTCBB: TGRO) Board of Directors is pleased to announce that it has changed its name from UTEC, Inc. to Tiger Oil and Energy, Inc. to better reflect its new growth areas of energy exploration its planned acquisition of existing energy leases and future energy expansion.
The new symbol approved by the regulatory agencies is TGRO on the OTC Bulletin Board effective September 23, 2010.
"Safe Harbor" Statement:
Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995.
Certain oral statements made by management from time to time and certain statements contained in press releases and periodic reports issued by the Company, as well as those contained herein, that are not historical facts are "forward-looking statements" within the meaning of Section 21E of the Securities and Exchange Act of 1934 and, because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.
Contact:
Ken Liebscher
CEO
kenliebscher@hotmail.com
Source: Marketwire (September 23, 2010 - 3:09 PM EDT)
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Intelimax Appoints Raymond Slee as new President & CEO
Sep. 23, 2010 (PR Newswire) --
VANCOUVER, Sept. 23 /PRNewswire-FirstCall/ - Intelimax Media Inc. ("Intelimax" or the "Company") (OTCBB:IXMD) is pleased to announce the appointment of Mr. Raymond Slee as new President, CEO and Director.
Raymond Slee has been working with Intelimax for 3 years as CTO and lead project developer of the Intelimax Inteli-gaming Platform. Mr. Slee has more than 15 years experience in technological development, including 10 years of Distributed Systems Architecture and Design. Before joining Intelimax, Mr. Slee served as Director and Chief Technical Officer for SwampFox Software Ltd. for 5 years (2002-2007). He was responsible for overseeing the design and implementation of an advanced graphical web site monitoring system called LiveSiteMonitor as well as LiveServiceDesk, a web communications product. Prior to SwampFox Software Mr. Slee worked within the London Financial Industry (1995-2002) as a Senior Systems Architect and Project Manager. Mr. Slee graduated from the University of Maryland with a bachelor of Computer Science and Electrical Engineering degree in 1996.
Resignations
Intelimax announces the resignation of Charles Green as CEO, President and Director as well as Carl Schmidt as Director of the Company's Board. Intelimax would like to thank both Mr. Green and Mr. Schmidt for their contributions to the Company.
About Intelimax Media Inc.
Intelimax Media Inc. (www.intelimax.com) is an Internet services company focusing on online games and web content. Using its proprietary InteliGaming multi player network, Intelimax licenses complete white label products, providing a full service subscription gaming solution to 3rd parties. In addition, Intelimax operates its own subscription gaming and social networking site, Gamboozle.com(TM) (http://www.gamboozle.com).
For and on behalf of the board of Intelimax,
Michael Young, Director
Forward Looking Statements:
Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to Intelimax or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of Intelimax's products, the competitive environment within the industry, the ability of Intelimax to continue to expand its operations, the level of costs incurred in connection with Intelimax's expansion efforts, economic conditions in the industry and the financial strength of Intelimax's customers and suppliers. Intelimax does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.
SOURCE Intelimax Media Inc.
IR Contact: Glenn Little, Investor Relations, Phone: (604) 930 4375, Email: jlconsulting@telus.net
Source: PR Newswire (September 23, 2010 - 3:00 PM EDT)
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TheraBiogen Announces Shipment of and Additional Orders for Its TheraMax(R) Nasal Spray Products From Rite Aid Corporation
Sep. 23, 2010 (Marketwire) --
NEW YORK, NY -- (Marketwire) -- 09/23/10 -- TheraBiogen, Inc. (OTCBB: TRAB) announced today that it has shipped its first order of its TheraMax® Cold & Flu and TheraMax® Allergy relief sprays and has received additional orders for those nasal spray products from Rite Aid corporation with nationwide distribution for retail sales of the products during the Fall cold and flu season. This represents orders for both the TheraMax® Cold & Flu relief spray and the TheraMax® Allergy relief spray. Both nasal spray products are already on or will be on the shelves at all of the pharmacy chain's retail locations.
About TheraBiogen, Inc.
TheraBiogen, Inc. is the manufacturer and distributor of homeopathic nasal sprays for aiding in the relief of cold, flu and allergies. The products are made from natural, homeopathic ingredients and contain no zinc, which has been identified as potentially causing nasal problems in other similar products on the market. For further information please visit www.theramaxrelief.com.
Safe Harbor Statement
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21 E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that these forward-looking statements involve uncertainties and risk that could cause actual performance and results of operations to differ materially from those anticipated. These risks and uncertainties include issues related to the ability to: obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new ventures, as well as other factors set forth in the Company's most recently filed Form 10-K and Form 10-Q reports. The forward looking statements contained herein represent the Company's judgment as of the date of this release and it cautions readers not to place undue reliance on such statements. TheraBiogen, Inc. assumes no obligation to update the statements contained in this release except as required by applicable securities disclosure rules.
Contact information:
Kelly T. Hickel
Chairman
TheraBiogen, Inc.
Telephone: 646-808-3095
Email Contact
Source: Marketwire (September 23, 2010 - 2:57 PM EDT)
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Shareholders of Service1st Bank of Nevada Vote in Favor of Acquisition by Western Liberty Bancorp
Agreement Reached to Eliminate Western Liberty Bancorp Warrants
Sep. 23, 2010 (PR Newswire) --
LAS VEGAS, Sept. 23 /PRNewswire-FirstCall/ -- Western Liberty Bancorp (OTC BB: WLBC) ("WLBC" or the "Company") today announced that on September 22, 2010, Service1st Bank of Nevada ("Service1st") shareholders voted to approve the acquisition of Service1st by WLBC.
Additionally, WLBC has reached a definitive agreement with the holders of a majority of its outstanding warrants to purchase common stock to eliminate the warrants. As a result of the new agreement, warrant holders will instead have an existing share of the Company's Common Stock for every 32 warrants, and will receive a consent fee of $0.06 in cash for each warrant (or $1.92 for every 32 warrants). Fractional shares of Common Stock will not be issued.
Michael Frankel, Chairman-designate of WLBC, commented "We are very excited that Service1st has voted to approve our transaction and look forward to partnering with Service1st's management team to drive value creation for our shareholders. Additionally, we believe the warrant restructuring is a significant step in simplifying the Company's capital structure, facilitating the expected closing of Western Liberty's acquisition of Service1st, as well as any future capital raising. Pending regulatory approval for WLBC's acquisition of Service1st, the acquisition is expected to close in October."
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements inherently involve risks and uncertainties that are detailed in the Company's prospectus and other filings with the Securities and Exchange Commission and, therefore, actual results could differ materially from those projected in the forward-looking statements. Forward looking statements include statements regarding the consummation of the acquisition of Service1st Bank, Western Liberty's plans for the bank post-closing and the effect of the acquisition on Service1st and the Nevada banking system as a whole. The Company assumes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
About Western Liberty Bancorp
Western Liberty Bancorp intends to operate as a "new" Nevada financial institution bank holding company upon receiving regulatory approvals and consummating an acquisition in the banking sector. The company currently has an agreement to purchase Service1st Bank of Nevada. The consummation of the acquisition is subject to such conditions as are customary for an acquisition of its type, including without limitation, obtaining all applicable governmental and other consents and approvals. The company expects to conduct operations through its wholly-owned banking subsidiary post-acquisition. Western Liberty expects to provide a full range of traditional community banking services focusing on core commercial business in the form of commercial real estate lending, small business lending, treasury management services, trade finance, consumer loans and a broad range of commercial and consumer depository products.
Company Contact:
George Rosenbaum
Chief Financial Officer
Western Liberty Bancorp
(702) 540-4424
SOURCE Western Liberty Bancorp
George Rosenbaum, Chief Financial Officer, Western Liberty Bancorp, +1-702-540-4424
Source: PR Newswire (September 23, 2010 - 2:21 PM EDT)
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Galaxy Gaming's Bonus Jackpot System - Andromeda Series Gains Washington Approval
Sep. 23, 2010 (GlobeNewswire) --
LAS VEGAS, Sept. 23, 2010 (GLOBE NEWSWIRE) -- Galaxy Gaming, Inc. (OTCBB:GLXZ) announced today that it has received approval from the Washington State Gambling Commission for the Company's upgraded Bonus Jackpot System, known as the Andromeda Series - Stage 1. The Bonus Jackpot System consists of two primary sub-systems: the Bet Tabulator System, which is used by casinos to detect and count the number and type of wagers players are making; and the TableVision System, which is an electronic display system used at each gaming table to exhibit payout odds, jackpots and bonuses. When the two sub-systems are used together, the Bonus Jackpot System permits casinos to offer substantial jackpots and creative bonusing schemes to their table game clientele.
The initial version of the Bonus Jackpot System which was first installed in Washington in March of 2009 was labeled the "Milky Way Series." The primary difference between the Milky Way Series and the newly approved Andromeda Series is the communication between the gaming tables and the Company's data center, which the Company provides through a relationship with Amazon Web Services, an Amazon.com company.
Bill O'Hara, Galaxy Gaming's Chief Operating Officer noted, "Although our engineering team's work has been complete on the Andromeda Series – Stage 1 since last year, we have been unable to install it into Washington's casinos until we received formal approval from their gambling commission. Now that we have approval, we are scheduling installation of Andromeda into select Washington casinos, to begin in as early as two weeks."
Robert Saucier, Galaxy Gaming's CEO, added, "The Andromeda Series will play an integral part in supporting our jackpot financing program, also known as the Inter-Casino Jackpot Network, which was interrupted by the Commission's staff in July. Although we have yet to gain their approval to reinstitute a modified version of this important program, we believe we are making continued progress and may be able to announce its return shortly. Therefore, we are pleased with the timing of their approval for our Andromeda Series," concluded Mr. Saucier.
About Galaxy Gaming
Headquartered in Las Vegas, Galaxy Gaming (www.galaxygaming.com) is the world's second largest developer, manufacturer and distributor of casino table games including Lucky Ladies, Texas Shootout, Emperor's Challenge, Deuces Wild and Triple Attack Blackjack. In addition, it develops innovative and enhanced electronic wagering platforms and systems such as its Bonus Jackpot System and its Inter-Casino Jackpot Network. Galaxy Gaming distributes its products to casinos throughout North America and on cruise ships worldwide.
The Galaxy Gaming, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6569
Safe Harbor
This release may contain certain "forward-looking statements" relating to the Company's business which may be subject to various factors that may cause actual results to be materially different from those described herein as anticipated, estimated, or expected. The Company disclaims any obligation to update or alter its forward-looking statements.
CONTACT: Galaxy Gaming
Robert B. Saucier, CEO
Andrew Zimmerman, CFO
702-939-3254
Fax: 702-939-3255
Source: Globe Newswire (September 23, 2010 - 2:14 PM EDT)
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American Eagle Energy Inc. Announces Hardy Area Well Work
Sep. 23, 2010 (PR Newswire) --
BILLINGS, Mont., Sept. 23 /PRNewswire/ -- American Eagle Energy Inc. (OTC Bulletin Board : AMZG; "AEE", or the "Company") announced that it, along with its 50% working interest partner, Eternal Energy Corp., has successfully restored the Hardy 2D7-9-3D2-16-4-21 well, located in southeastern Saskatchewan to production following the recent workover. The workover was designed to shut off water influx from outside the Bakken producing zone and return the well to economic production. The well was put on pump last week and is currently producing approximately 40 barrels of oil per day while continuing to clean up with increasing oil cuts.
The partners have also submitted a horizontal well license application for an offset location in the targeted drilling area and expect to commence drilling a second Bakken horizontal well during the fourth quarter of 2010 or the first quarter of 2011.
"We are hopeful that the well will continue to clean up and approach the previous production levels," stated Dick Findley, AEE's President and CEO. "The successful completion of the well workover provides significant support and encouragement for proceeding with further development of the Hardy area this year or early next year."
About American Eagle Energy Inc.:
American Eagle Energy Inc. is an oil and gas company engaged in the exploration of petroleum and natural gas. The Company was incorporated in Nevada on March 14, 2007 under the name Yellow Hill Energy Inc., to engage in the acquisition, exploration, and development of natural resource properties.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements relating to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth, potential contracts, and/or aspects of litigation. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, Eternal Energy Corp. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, and domestic and global economic conditions. The company assumes no obligation to update any of these forward-looking statements.
SOURCE American Eagle Energy Inc.
Richard Findley, President, American Eagle Energy Inc., +1-406-294-9765
Source: PR Newswire (September 23, 2010 - 2:22 PM EDT)
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China Food Services, Corp. 3rd Quarter Retail Stores Update
Sep. 23, 2010 (PR Newswire) --
BEIJING, Sept. 23 /PRNewswire/ -- China Food Services, Corp. (formally Other OTC: GDHI) http://www.chinafoodservices.com, an international food and beverage distributor specializing in the distribution of U.S., International and national Chinese food & beverage brands to the Chinese market, today announced that the company has a total of 700 retail stores under its distribution umbrella. The company's focus for year-end 2010 is to have 1,000 retail stores where it will establish its DSD direct store delivery method in the Beijing area.
Frank Yglesias CEO of China Food Services, Corp, said, "I want to thank our employees for their commitment and effort in reaching this 3rd quarter goal, and I am honored by their loyalty for working during the mid-autumn festival to make sure our clients have our products on their shelves during the holidays." Additionally Mr. Yglesias stated, "Our focus this year is to reach 1,000 stores, and then 2011 will be to maximize our distribution channel with products that bring value to the bottom line. Our goal for 2011 will be to have a minimum retail sale of $150USD per retail store per month for a total of over $1,000,000USD in sales during year-end 2011."
About China Food Services, Corp.
China Food Services, Corp. owns and operates Golden Dragon Food & Beverage Import & Export Company of Hong Kong, Ltd. in central Hong Kong and Beijing Jin Long Fei International Trading Co., Ltd in China. China Food Services, Corp. has agreements with U.S. food manufacturers. GDHI acts as a buying agent for its Hong Kong subsidiary, negotiating vendor contracts and services with U.S. food and beverage industry partners. The Hong Kong Company plays a strategic role in the importation of products into the Chinese market by leveraging the Closer Economic Partnership Arrangement (CEPA) with China. Through this arrangement, Beijing Jin Long Fei International Trading Co., Ltd distributes some of the most popular U.S. food and beverage brand products directly into the hypermarkets, supermarkets and convenience stores in China. The Company is responsible for order fulfillment for its clients in China, as well as providing advertising and promotion (A&P) services for its U.S. food and beverage products.
Safe Harbor Statement
Information in this press release may contain 'forward-looking statements.' Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the 'Safe Harbor' provisions of the United States Private Securities Litigation Reform Act of 1995.
SOURCE China Food Services, Corp.
China Food Services, Corp., +1-888-889-8185, ir@gdfbhk.com
Source: PR Newswire (September 23, 2010 - 1:40 PM EDT)
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Ecology Coatings Accepts Term Sheets for a $2.4 Million Funding
Sep. 23, 2010 (PR Newswire) --
WARREN, Mich., Sept. 23 /PRNewswire-FirstCall/ -- Ecology Coatings, Inc. (OTC Bulletin Board: ECOC), a leader in the discovery and development of nanotechnology-enabled, ultraviolet-curable advanced coatings, today announced that its Board has accepted conditional term sheets from a number of individual investors for an investment totaling $2.4 million. The investment is to be made through the issuance of convertible preferred shares which can be converted to common stock at a price of $.10/share.
The investment is subject to the following primary conditions:
Ecology can only use $750,000 to resolve its outstanding debt.
To minimize the dilution to shareholders and to 'clean up' the capital structure of the company, Ecology must convince large shareholders to return eight million shares of common stock to the company.
A due diligence period of 30 days.
About Ecology Coatings, Inc.
Ecology Coatings, Inc. (OTCBB: ECOC) is a leader in the development and licensing of cleantech ultraviolet (UV) curable coatings — coatings that improve the products we use daily. Ecology's technology platform allows manufacturers to enhance the durability and performance of their products, while significantly reducing energy costs and increasing manufacturing throughput. The company produces solvent-free coatings, which eliminate the escape of harmful solvents into the atmosphere during application. Headquartered in Warren, Michigan, Ecology Coatings has a development and prototype lab in Akron, Ohio. For additional information, visit the company's website at http://www.ecologycoatings.com.
Forward-looking Statements
Except for the historical e historical information contained herein, the matters discussed are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements involve risks and uncertainties, which are specified in Ecology's filings with the Securities and Exchange Commission. These risks and uncertainties could cause actual results to differ materially from any forward-looking statements made herein.
Investor and Media Relations
McCloud Communications, LLC
Marty Tullio, Managing Member
949.553.9748
Marty@McCloudCommunications.com
SOURCE Ecology Coatings, Inc.
Investor and Media Relations: Marty Tullio, Managing Member, McCloud Communications, LLC, +1-949-553-9748, Marty@McCloudCommunications.com
Source: PR Newswire (September 23, 2010 - 1:36 PM EDT)
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Sunridge Ships First Order to the Middle East
Sep. 23, 2010 (PR Newswire) --
FOUNTAIN HILLS, Ariz., Sept. 23 /PRNewswire/ -- Sunridge International (OTC Bulletin Board: SNDZ) announced today that it has shipped its first order to Ameco Medical Equipment L.L.C., its exclusive distributor for several Middle Eastern countries. AME plans to start its marketing rollout of Pneumatic Trabeculoplasty (PNT) throughout the region, while simultaneously conducting a short study to gain reimbursement approval for the PNT procedure. Once established, the population of glaucoma sufferers waiting for treatment can be helped.
Sunridge International's CEO, G. Richard Smith states, "This is an important step for our company. Our focus this year has been expanding our distribution network worldwide, and entering the Middle Eastern market, with the high incidence of glaucoma in its population, can and should produce millions in revenue for our company."
Glaucoma is the second leading cause of blindness, affecting over 70 million people worldwide. PNT has been proven (through studies completed over the last 10 yrs) to be a safe, effective, non-invasive and a cost effective alternative for treatment for glaucoma and ocular hypertension. The 2-minute treatment has been developed, patented, and distributed by Sunridge International, wholly owned subsidiary, Ophthalmic International (www.oi-pnt.com).
For full details of PNT and its application, we invite you to visit Sunridge International's website at www.sunridgeint.com.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the company's products, increased levels of competition for the company, new products and technological changes, the company's dependence on third-party suppliers, and other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission.
CONTACT:
Jeff Smith, Sunridge International
T: +1-480-837-6165
e-mail: info@sunridgeint.com
MEDIA:
Victor Webb, Marston Webb International
T: (212) 684-6601
e-mail: marwebint@cs.com
SOURCE Sunridge International
Jeff Smith of Sunridge International, +1-480-837-6165, info@sunridgeint.com; or media, Victor Webb of Marston Webb International, +1-212-684-6601, marwebint@cs.com, for Sunridge International
Source: PR Newswire (September 23, 2010 - 1:14 PM EDT)
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