RELM Holdings Plans to Acquire 3 Companies in Share Exchanges
04 Mai 2009 - 6:18PM
Marketwired
RELM Holdings Inc. (PINKSHEETS: RELM) announced today that it plans
to acquire three companies from their controlling shareholders in
three share exchanges valued at $23 million. RELM will serve as the
parent company.
These acquisitions will give RELM additional revenue, increased
assets, and access to bank financing. The new to-be-elected Board
of Directors and management team will help streamline and oversee
all of the companies' operations from the top down.
As a holding company, RELM's purpose will be to provide capital
to its affiliates that create, market, service, and license
innovative financial products and services. RELM expects to lead a
vertically integrated family of companies that provides full
solutions for its clients, from underwriting, servicing, raising
capital, product creation and commercialization, to securitization
and guaranty of its products in the marketplace. With this platform
RELM's business model will change as it begins to provide financial
services for a new client base. RELM will be pursuing two distinct
marketing paths: direct lending using the Access Channel Platform
and licensing the Access Channel Platform to banks and other
financial institutions.
Randall Burton, the new president, says, "One of my first tasks
after joining RELM was to analyze the operations of RELM and its
affiliated companies with an eye towards increasing operational
efficiencies and unlocking value. With these planned acquisitions,
I see exciting revenue opportunities for RELM and the consolidation
of the business operations and financial statements will
immediately provide increased shareholder value and transparency.
This major shift should improve RELM's balance sheet and improve
visibility in its new business model. In conjunction with the
consolidation, we are working to bring on a new experienced
management team and expect to announce our new team shortly."
Further, Mr. Burton believes that RELM should investigate an
offering as he consolidates the affiliates into RELM and he plans
to meet with investment banks to test their level of interest.
Safe Harbor
The Private Securities Litigation Reform Act of 1995 provides a
safe harbor for forward-looking information made on the company's
behalf. All statements, other than statements of historical facts
which address the company's expectations of sources of capital or
which express the Company's expectation for the future with respect
to financial performance or operating strategies, can be identified
as forward-looking statements. Such statements made by the company
are based on knowledge of the environment in which it operates, but
because of the factors previously listed, as well as other factors
beyond the control of the company, which include the ability of the
company to implement its new business model and complete certain
acquisitions and consolidations, actual results may differ
materially from the expectations expressed in the forward-looking
statements.
Contact: RELM Holdings Inc. info@relmholdingsinc.com Phone:
302-225-8163
Relm (CE) (USOTC:RELM)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024
Relm (CE) (USOTC:RELM)
Graphique Historique de l'Action
De Juil 2023 à Juil 2024