"Money in the bank"......Expectations dimmed here:
Date : 02/05/2009 @ 10:00AM
Source : Business Wire
Stock : RCC HOLDINGS, CORP. (RCCH)
Quote : 0.0001 0.0 (0.00%) @ 11:51AM
RCC Clarifies Previous Release
RCC Holdings, Corp. ("RCC")(Pink Sheets:RCCH) would like to clarify certain information in its press release issued on January 30, 2009 (the "Prior Release"). The reference to "up listing" in the press release is a reference to the intention of RCC to pursue a merger of its wholly-owned subsidiary, RCC International Waste Water Systems Incorporated ("IWS") with a publicly listed shell company with cash assets (the "Proposed Transaction"), which transaction would be subject to applicable stock exchange and regulatory approval. RCC has been in discussions with several possible shell companies in respect of the Proposed Transaction.
The Prior Release also contained an error in that Bill Hess has not been appointed as a director of RCC or IWS at this time and his biography should have referred to the Canadian Venture Exchange and not the Toronto Stock Exchange. Mr. Hess will only become a director of IWS if the Proposed Transaction proceeds and is completed in a manner acceptable to Mr. Hess.
Further announcements will be made in respect of the Proposed Transaction if RCC succeeds in entering into a merger agreement with a shell company.
