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RELM Holdings Inc. Executes a Letter of Intent for the Acquisition of a Second Electronic Document Management, Litigation Suppo

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  Published in Business and Finance on Tuesday, November 17th 2009 at 9:08 GMT by Market Wire
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WILMINGTON, DE--(Marketwire - November 17, 2009) - RELM Holdings Inc. (PINKSHEETS: [ RELM ]) announced today that it executed a Letter of Intent (LOI) to acquire 100% of the equity interests in a well established Electronic Document Management company with facilities in Western Nevada.

Management noted that the target company will remain undisclosed pending the execution of definitive agreements per customary non-disclosure terms agreed on by the parties. The Company, founded in 1996, provides a full range of litigation and corporate support services. The Company's legal clients rely on the Company for: imaging and reprographics, trial boards, electronic data discovery (EDD), online management, and opposing counsel services, while corporate clients contract for: digital printing, event services, and document storage. Revenues for 2009 are expected to exceed $1,200,000. With this acquisition, Relm's annual technology revenues are expected to exceed $6,500,000. Consolidated pro forma statements will be provided once all due diligence has been completed.

Management intends to consolidate operations and service offerings with the first Electronic Document Management Company (LOI announced on November 9, 2009) which has operations in the South East and Mid-West. Both companies will operate within the newly formed Relm Technology Group (RTG).

According to Marc Greenberg, EVP, "This Company has also earned a dominant market position and stellar reputation within its market and allows us to solidify our stake in the Electronic Document Management and Hosting space. There are many opportunities available to us as we consolidate the companies including our ability to leverage Access Versalign's (AVI) network and infrastructure team to support the companies' datacenter and information technology operations."

Randall Burton, President, added "This is a well respected company in their field and their management team is dedicated and experienced. We look forward to the opportunities that the combination of these two companies brings to us along with the overall value and synergies derived at the Relm Technology Group level. We will now have a presence and an outlet for our services in four major markets, the South East, Mid-Atlantic, Mid-West and the West. We are making steady progress on executing our Acquisition Plan."

About RELM

RELM was incorporated to acquire operating businesses and is now a holding company with a primary focus on financial and information technology services along with real estate. The Company bases its business model on the acquisition of synergistic businesses with the capability to support and compliment its financial and technology products. RELM intends to lead a vertically integrated family of companies that will provide full solutions for its affiliates and clients, such as underwriting, servicing, raising capital, and commercialization, while securitizing and guaranteeing its products in the marketplace. Since 1994 the Company has conceived, designed, and developed innovative, new products that "absorb asset risk." For more information about RELM, please visit [ www.relmholdingsinc.com ].

About AVI

AVI was organized in 2008 and in 2009 acquired Versalign Inc., which was founded in 1985 and currently provides targeted Information Technology solutions for corporate, professional and governmental clients in the Mid-Atlantic region. AVI provides RELM access to cash flows and expanded business opportunities in the information technology industry. For more information about Versalign, please visit [ www.versalign.com ].

SAFE HARBOR

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company's behalf. All statements, other than statements of historical facts which address the company's expectations of sources of capital or which express the company's expectation for the future with respect to financial performance or operating strategies, can be identified as forward-looking statements. Such statements made by the company are based on knowledge of the environment in which it operates, but because of the factors previously listed, as well as other factors beyond the control of the company, which include the ability of the company to implement its newly expanded business model or acquire businesses and real estate, actual results may differ materially from the expectations expressed in the forward-looking statements.