NEW YORK--(BUSINESS WIRE)--Seaway Valley Capital Corporation (OTC Bulletin Board: SWVC - News) chairman and chief executive officer, Thomas Scozzafava, issued the following update to its shareholders today:
"Under the new proposed structure, the WiseBuys transaction will be considered a stock "merger" rather than a purchase, and the Company would seek to merge 100% of WiseBuys into Seaway rather than the 75% previously announced."