LINCOLN, Neb., Dec. 8, 2016 /PRNewswire/ -- Crossroads Capital,
Inc. (Nasdaq: XRDC) (the "Company") has announced the sale of its
entire position in Centrify Corporation ("Centrify").
On December 7, 2016, the Company
sold its entire position of 1,084,873 shares of Centrify Series E
Convertible Preferred Stock for $3,200,000.
Ben H. Harris, J.D., Chief
Executive Officer and President of the Company, said: "In addition
to the recent disposition of a portion of our interest in
Metabolon, Inc., the sale of all of our Series E shares in Centrify
furthers our investment objective of preserving capital and
maximizing stockholder value."
Mr. Harris added, "Consistent with the Company's investment
objective, we will not be re-investing these proceeds. In due
course, we intend to issue future announcements regarding a cash
distribution to shareholders."
About Crossroads Capital, Inc.
Crossroads Capital, Inc. (www.xroadscap.com) is a closed-end
fund regulated as a business development company under the
Investment Company Act of 1940.
Investor Relations
Contact:
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Ben H.
Harris
Chief Executive
Officer and President
|
|
(402)
261-5345
|
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ben@xroadscap.com
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Forward-Looking Statements
This press release may contain statements of a
forward-looking nature relating to future events. These
forward-looking statements are subject to the inherent
uncertainties in predicting future results and conditions.
These statements reflect Crossroads Capital's current beliefs, and
a number of important factors could cause actual results to differ
materially from those expressed in this press release, including
the factors set forth in "Risk Factors" set forth in Crossroads
Capital's Form 10-K and Form 10-Q filed with the Securities and
Exchange Commission ("SEC"), and subsequent filings with the
SEC. Please refer to Crossroads Capital's SEC filings for a
more detailed discussion of the risks and uncertainties associated
with its business, including but not limited to the risks and
uncertainties associated with investing in micro- and small-cap
companies. Except as required by the federal securities laws,
Crossroads Capital undertakes no obligation to revise or update any
forward-looking statements, whether as a result of new information,
future events or otherwise. The reference to Crossroads
Capital's website has been provided as a convenience, and the
information contained on such website is not incorporated by
reference into this press release.
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SOURCE Crossroads Capital, Inc.