PACEL Corp. Announces Closing on World Wide Personnel of Maine, Inc.
21 March 2006 - 10:00PM
PR Newswire (US)
CHARLOTTE, N.C., March 21 /PRNewswire-FirstCall/ -- PACEL Corp.
(OTC:PCCE) (BULLETIN BOARD: PCCE) PACEL Corp. announces that it
will close the acquisition of World Wide Personnel Services of
Maine, Inc. on Thursday, March 23, 2006. PACEL Corp entered into a
letter of intent to purchase World Wide Personnel Services of
Maine, Inc. and United Personnel Services, Inc. in November 2005.
PACEL Corp. completed the acquisition of United Personnel Services,
Inc. in early March 2006. World Wide Personnel Services of Maine,
Inc. and United Personnel Services, Inc. are leading Professional
Employer Organizations in Maine. Combined these two companies will
generate approximately $500,000 in gross profit for PACEL Corp. and
will approximately double PACEL Corp.'s revenue. This acquisition
combined with the acquisition of United Personnel Services, Inc.
extends PACEL Corp.'s operating footprint to the Northeast area of
the country giving us a strong presence along the Atlantic
coastline. "We are looking forward to the closing now that all the
details have been finalized," stated Gary Musselman, President of
PACEL. "World Wide Personnel Services of Maine, Inc. is an
excellent organization and will be valuable members of the PACEL
family." World Wide Personnel Services of Maine, Inc. will continue
to operate with the current management team and continue to serve
their client base. Cautionary Statement for the Purpose of Safe
Harbor Provisions of the Private Securities Litigation Reform Act
of 1995: Forward-looking statements in this news release are made
under the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Certain important factors could
cause results to differ materially from those anticipated by
forward-looking statements, including the impact of competition,
the success of existing and new product releases, the management of
our growth, and other factors discussed from time to time in
reports filed by the company with the Securities and Exchange
Commission. DATASOURCE: PACEL Corp. CONTACT: Gary Musselman of
PACEL Corp., +1-704-643-0676
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