Business & Finance
Business and Finance
Business and Finance
Tue, June 30, 2009
Mon, June 29, 2009 Expo Holdings, Inc.: Expo Holdings Issues Clarifying Statement Regarding Debt Restructuring
NORTH WILKESBORO, NC--(Marketwire - June 29, 2009) - Expo Holdings, Inc. (
Shareholders have requested clarification of an earlier Press Release dated June 24, 2009, Titled "Expo Holdings completes debt restructuring." The following statement from the CEO should clear up questions regarding its restructured debt.
James Brown, CEO, stated, "We have restructured nearly $400,000 worth of our short term loans with Wachovia Bank and Southern Community Bank into long term notes with the same entities. There are no convertible debentures. No shares have been or will be issued in regards to this debt. The rates are favorable and we appreciate the continued willingness of each bank to fund us, even after experiencing a tough year like last year. We anticipate continued good relations with each bank now and in the foreseeable future."
Additionally, Brown stated, "We also continue to enjoy a great relationship with Crestmark Bank. We operate and use a 1M credit facility with them. The company expects to use this line heavily in mid to late 2009 funding its anticipated accelerated growth plan."
Shareholders are always welcome to visit. Please contact us at 336-667-8765 and make your arrangements to visit.
[ http://www.expoholding.com ]
Expo Holdings operates in North Wilkesboro, NC. D&D Displays is a wholly owned subsidiary of Expo Holdings, which specializes in custom cabinetry and high end store fixtures for retail vendors such as Newell-Rubbermaid, Inc., Bosch Tool Corporation, Kronotex, USA, and Lowe's Companies. D&D Displays has been in operation since 2000 and joined Expo Holdings in 2006.
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.
