STJO St Joseph Inc (PK)

On August 8, 2012, St. Joseph, Inc. (STJO) entered into a non-binding Letter of Intent with Karavos Holdings Limited, which will act as the arranger, to acquire a 100% interest of a holding company that owns 50% interest in a domestic telecommunications operating company providing services to retail customers and to the wholesale market, including resellers, competitive local exchange carriers (CLECs) and facilities-based carriers.

Our due diligence has confirmed that the telecommunications company has, during the six months ending June 30, 2012, generated revenues of $63 million dollars and EBITDA of $3.99 million, which on an annualized basis would be equivalent to revenues of $126 million dollars and EBITDA of $7.98 million dollars. As at 30 June 2012 the telecommunication company’s financial statements report net assets amounting to $34 million.

St. Joseph’s President, Gerry McIlhargey, states, “Management is extremely pleased with the results of our due diligence thus far.” McIlhargey further stated that, “The Company will commence raising the required financing necessary to enter into the next phase of the reverse acquisition.”

About St. Joseph, Inc.

St. Joseph is a holding company owning a subsidiary engaged in the staffing industry. To receive dissemination of St. Joseph Company news, register your email address with the company at mark@stjosephinc.com. More information about St. Joseph, Inc. is available at www.stjosephinc.com.

This press release consists of forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. In particular, there is no assurance that the parties will reach a definitive agreement for the proposed transaction or that the transaction will be completed. Additionally, no assurance can be provided that the terms of any transaction will be similar to those contemplated by the Letter of Intent. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, and actual results could differ materially from those indicated by such forward looking statements. The Company assumes no obligation to update the information contained in this press release, whether as a result of new information, future events, or otherwise.

St Joseph (PK) (USOTC:STJO)
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