Integrity Mutual Funds, Inc. Announces Sale of Mutual Fund Division to Employee-Owned Group
13 March 2009 - 5:43AM
PR Newswire (US)
MINOT, N.D., March 12 /PRNewswire-FirstCall/ -- Integrity Mutual
Funds, Inc. (OTC:IMFD) (BULLETIN BOARD: IMFD) , a mutual fund and
financial services company, has announced the sale of its mutual
fund division. Integrity Mutual Funds, Inc., the parent company of
Integrity Money Management, entered into an agreement with Corridor
Investors, LLC and Viking Fund Management, LLC, subject to certain
terms and conditions, to purchase the Fund division. Corridor is a
recently formed North Dakota limited liability company, and it is
currently anticipated that interests in Corridor will be owned by,
among others, certain officers and employees of Integrity and
Viking. Upon the completion of the transaction, it is expected
that, primarily through its subsidiaries, Corridor will provide
investment advisory, distribution, and other services to mutual
funds currently in the Integrity and Viking fund families. "At this
time we don't anticipate any changes in employees, fund management
or investment advisory fees or services which is very positive for
the Integrity team and our valued shareholders," said Brad Wells,
Interim President and CEO of Integrity Mutual Funds. "The Company's
wholly owned subsidiary, Capital Financial Services, Inc. is not
being sold or transferred and it will continue to operate through
Capital Financial Services, Inc. in all locations." Integrity
Mutual Funds, Inc. is publicly traded over the OTC Bulletin Board
under the symbol IMFD.OB. With its subsidiaries, Integrity Money
Management, Inc., Integrity Fund Services, Inc., and Integrity
Funds Distributor, Inc., the firm sponsors, manages, and advises
mutual funds. IMFD also owns Capital Financial Services, Inc., a
full-service brokerage firm that specializes in providing
investment products and services to over 350 independent investment
representatives, financial planners, and investment advisors
throughout the United States. More information is available at
http://corp.integrityfunds.com/ or by calling 800/276-1262.
DATASOURCE: Integrity Mutual Funds, Inc. CONTACT: Kelly Cinelli for
Integrity Mutual Funds, Inc., +1-508-222-4802, Web Site:
http://www.integrityfunds.com/
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