Castle Holding Corp. (CHOD: OTC Market) Updates Shareholders
24 June 2014 - 10:00PM
Castle Holding Corp. (Pink Sheets:CHOD) (the "Company") is pleased
to announce today that there exists a Letter of Intent (LOI)
executed on June 6, 2014 by the controlling shareholders of the
Company to pass control on to another controlling shareholder
(hereafter referred to as ACS). An SEC Form 8 K was filed by the
Company regarding this matter on June 12, 2014. The closing of this
control change is scheduled for October 1, 2014. Details are in the
Form 8 K.
The ACS has a new vision for the Company. The goal is to
increase visibility of the Company as well as to formulate a plan
of action to build the Company into a leading edge merger and
acquisition model. That model could take the form of something
similar to a publicly owned investment manager like Berkshire
Hathaway, Inc. Another possible model could be in the form of
a business development corporation like Main Street Capital
Corporation. Other models and combinations are being reviewed as to
a future course of action.
There can be no guarantee all of the goals of the ACS for the
Company can be attained, however, a quality development management
group is in process of being recruited. This new management team is
expected to have expertise in mergers, acquisitions, leveraged
buy-outs as well as debt and equity offerings.
Along the lines of team and personnel development, as well as
quality business operations, whether private or public, the Company
would like to take this opportunity to invite such qualified
individuals, groups or operating businesses to inquire. If
experience exists in any of the aforementioned areas, or there is a
business opportunity worthy of discussion, please contact the
person at the bottom of this Press Release by phone or e-mail.
The Company was incorporated in 1986 and is based in Freeport,
New York.
This press release contains certain "forward-looking"
statements, defined in the United States Private Securities
Litigation Reform Act of 1995, that involve a number of risks and
uncertainties. Statements, which are not historical facts, are
forward-looking statements. The company, through its management,
makes forward-looking public statements concerning its expected
future operations, performance and other developments. Such
forward-looking statements are estimates reflecting the company's
best judgment based upon current information and involve a number
of risks and uncertainties, and there can be no assurance that
other factors will not affect the accuracy of such forward-looking
statements. It is impossible to identify all such factors, factors
that could cause actual results to differ materially from those
estimated by the company.
This press release is provided for information purposes only and
is not intended to constitute an offer to sell or a solicitation of
an offer to buy securities.
CONTACT: Dr. John V. Cappello
484-518-9000 or chod1986@yahoo.com