SW China Imports, Inc. (SWCI) Announces LOI to Acquire Interest in Government Contractor
11 Avril 2013 - 3:40PM
Marketwired
SW China (OTCQB: SWCI) is pleased to announce that is has entered
into a Letter of Intent ("LOI") to acquire an interest in Absolute
Protective Services, LLC, ("APS") a private security government
contractor. Under the terms of the LOI, SWCI will purchase an
equity stake of 20% to 50% of APS and will close the deal within
30-buisiness days upon successful completion of due diligence. APS
is a small business founded by a sworn and licensed police officer
working within the State of Maryland to provide private security
services to federal, state, and local governments. APS has been
awarded a state government contract to provide unarmed guard
services protecting a government building for a 3-year term and has
aggressive growth plans to obtain more governments contracts in the
future.
The final terms of the acquisition will be negotiated and will
involve issuance of preferred shares to APS in exchange for the
equity stake. Seon Won, the President of SWCI stated that "In
keeping with SWCI's pledge of non-dilution and no convertible share
issuances, the preferred shares shall NOT be convertible into
common shares of SWCI and will in no way affect the current
authorized or outstanding common share structure." Seon Won added
that "APS has been awarded a 3-year government
contract which brings a steady stream of revenue guaranteed by the
government." Seon Won further stated, "We are extremely excited to add APS
to add value to SWCI while I continue to press forward building the
beauty supply and custom, high-end hairpiece business of SWCI,
while also seeking other acquisition candidates to bring under the
SWCI family."
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 beauty supply and/or hairpiece
industry, plans for future expansion or acquisition, various
business development activities, planned capital expenditures,
future funding sources, anticipated sales growth, and prospective
dealings and joint venture projects. 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 SW China.
Seon Won Email Contact
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