|08-25-2010, 09:03 PM||#1|
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Patrick Hackett Prepared to Re-file Plan for Emergence From Chapter 11
Companies: Wisebuys, Inc.Seaway Valley Capital Corporation
Symbol Price Change
HCKI.PK 0.0025 +0.0007
Press Release Source: Wisebuys, Inc. On Wednesday August 25, 2010, 4:10 pm EDT
SACKETS HARBOR, N.Y., Aug. 25, 2010 (GLOBE NEWSWIRE) -- Wisebuys, Inc. (Pink Sheets:HCKI - News), a holding of Seaway Valley Capital Corporation (Pink Sheets:SEVA - News), is pleased to announce that its subsidiary, Patrick Hackett Hardware Company, is changing its name to Outlet Center of Ogdensburg and refocusing the company as a liquidation, over runs and outlet center. The name change will be effective immediately, and the change in strategy comes as a result of months of feedback from customers.
Additionally, Patrick Hackett announced that it is preparing to file its amended Disclosure Statement and Plan of Reorganization with the United States Bankruptcy Court.
Outlet Center of Ogdensburg will begin liquidating all Patrick Hackett merchandise in order to clear the way for the new, value priced merchandise that will begin flowing into the store immediately.
Herbert Becker of Patrick Hackett stated, "We are excited by the name change and strategy shift, as they represent what hopefully is a new chapter in the company's evolution. We have identified numerous vendors to supply the Outlet Center and the feedback has been very good."
Mr. Becker continued, "Additionally, we hope this revised plan that we are prepared to file will allow the company to successfully emerge from bankruptcy protection."
The company announced it recently executed a term sheet with ACG Consulting that called for a $3 million capital raise for Patrick Hackett Hardware Company, and the company expects to sign definitive agreements shortly
Last edited by Miles; 08-26-2010 at 02:05 PM..
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|02-14-2011, 11:06 PM||#2|
Join Date: Oct 2009
Rep Power: 52
Wisebuys to Dividend Shares of Affiliated Companies to Its Shareholders
Press Release Source: Wisebuys, Inc. On Monday February 14, 2011, 5:02 pm EST
SACKETS HARBOR, N.Y., Feb. 14, 2011 /PRNewswire/ -- Wisebuys, Inc. (Pink Sheets:HCKI.pk - News) announced today that it will distribute a dividend to its shareholders that will consist of shares of Harbor Brewing Company, Inc. (Pink Sheets:HBWOD.pk - News) and Seaway Valley Capital Corporation (Pink Sheets:SEVA.pk - News). These shares will be distributed to Wisebuys' shareholders of record of March 18, 2011.
The company's founder and CEO, Maury Peters, stated, "We feel that this gesture to our shareholders is a great introduction to us and we are very pleased to offer this dividend. I am excited at being at the helm of a company that has such tremendous potential for growth, and we look forward to providing value to our shareholders and believe that this is a great first step in the right direction."
The ratios for the respective share distributions are set at five common stock shares of Harbor Brewing Company and one thousand common stock shares of Seaway Valley for each two hundred fifty thousand shares of Wisebuys' common stock held. Shareholders of record as of March 18, 2011 will be able to participate in the dividend distribution.
The company will soon apply to FINRA for a name change to "Empire Pizza Holdings, Inc." and is aggressively seeking new independent pizza operations to open and acquire. The company plans to expand throughout the Northeast including the states of New York, New Jersey and Vermont among other states along the eastern seaboard
Last edited by Miles; 02-15-2011 at 04:54 AM..
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