Posted by: crashman
In reply to: None Date:4/1/2008 8:38:43 AM
Post #of 1564
wouldn't even let me post this LOL
News....
April 1, 2008 - 8:38 AM EDT
Seaway Valley Corporation Acquires Home Depot
The Management of Hacketts Hardware, to manage the newly acquired division.
Seaway Valley Capital Corporation (OTC Bulletin Board: SWVC) (“Seaway Valley”) announced today that it recently acquired a new subsidiary To be called Seaway Valley Depot, LLC (“Seaway Depot”). The division, which shall be managed by Seaway Valley, was formed to manage the Company’s newly acquired Home Depot chain and will also look to acquire and/or develop Lowe's.
“Although Seaway Depot will initially focus on management of the Company’s recently or soon-to-be acquired hardware chains, management feels that today’s environment is presenting compelling opportunities to acquire large Hardware chains” stated Seaway Valley’s CEO, Thomas Scozzafava. He continued, “We are seeing asset prices softening, and with the recent turmoil in the credit markets – particularly we have opportunities of unforseen magnitude – some otherwise attractive projects have become more difficult to finance with traditional private capital. Seaway Valley can approach these projects with a more diversified portfolio of financing options. such as Yorkshire Advisors” Mr. Scozzafava added, “In particular, Seaway Depot has found significant financing with the help of additional debentures, which will allow us not only to acquire the Home Depot name but also the Lowe's name”. "This acquisition valid April 1 2008, is a tremendous milestone in the short history of our company", he concluded.
About Seaway Valley Capital Corporation
Seaway Valley Capital Corporation makes equity, equity-related, and debt investments in companies that require expansion capital. Seaway also seeks investments in leveraged buyouts and restructurings. Seaway will consider investment opportunities in a number of different industries, including retail, restaurants, media, business services, manufacturing, and select technologies.
About Patrick Hackett Hardware Company
Hackett’s, one of the nation’s oldest retailers with roots dating back to 1830, is a full line department store specializing in name brand merchandise and full service hardware. Hackett’s, now with nine locations, features brand name clothing for men, women, and children, and a large selection of athletic, casual, and work footwear. Hackett’s also carries domestics, home décor, gifts, seasonal merchandise and sporting goods. Hackett’s full service hardware department features traditional hardware, tool, plumbing, paint and electrical departments.
Safe Harbor Statement
This press release contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, and members of their management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
Seaway Valley Capital Corporation
contact@seawaycapital.com
www.seawaycapital.com
or
Investor Relations:
CEOcast, Inc.
Gary Nash, 212-732-4300
Source: Crash Wire (Aprilfool 1, 2008 - 8:38 AM EDT)
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