WINDSOR, ON--(MARKET WIRE)--Nov 24, 2006 -- Sulja Bros. Building Supplies Limited (Other OTC:SLJB.PK - News), today dismisses reports published in the Windsor Star that claim that the acquisition of Sam Building Material has not been closed. The deal has been completed and all assets and employees have been rolled into the Sulja family. No one was laid off.
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A spokesperson stated, "Their entire inventory including trucks and other fixed assets have been acquired by Sulja's and we have been functioning as one for more than a month now. The property is a lease but everything else is solid assets. We want to dispel the reports that have been published in the Windsor Star; it seems as Gary Rennie, reporter from the Windsor Star has a personal vendetta against our company and its management."
Mario Moretto, President of Sam Building Materials, agreed with Sulja Bros. and stated, "Since October 2nd, we have been working under the Sulja banner. The purchase was completed and the documents are with our lawyers. I have spoken to no one from the Windsor Star, and I am uncertain to where they are getting their inaccurate information from. I want to state again that the deal has been finalized and everyone is very pleased with the result."
"The take over was seamless and everyone is happy with it. We have been conducting business normally and without hindrance since October. We plan on continuing as such and on expanding our business despite efforts of those outside our organization trying to derail our efforts for reasons unknown to us," the spokesperson said.
This contains forward-looking information within the meaning of The Private Securities Litigation Act of 1995. Forward-looking statements may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," or statements indicating certain actions: "may," "could," "should" or "might occur." Such forward-looking statements involve certain risks and uncertainties. The actual result may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or implied) will not be realized.
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