AssuranceAmerica Corporation Announces Acquisition.ATLANTA -- Atlanta based ASSURANCEAMERICA CORPORATION (OCT OCT ornithine carbamoyltransferase; oxytocin challenge test. OCT ornithine carbamoyl transferase, a liver specific enzyme. OCT Oxytocin stress test, see there BB: ASAM ASAM American Society of Addiction Medicine ASAM Advanced Surface-to-Air Missile ASAM Advanced Services Access Manager ASAM ATM Subscriber Access Multiplexer (Alcatel) ASAM Association for Solidarity with Asylum Seekers and Migrants .OB) today announced it has acquired the assets of Cannon Insurance Agency in Riverdale (Atlanta), Georgia, a retail insurance agency producing approximately $7.0 million annual premium volume with emphasis on sales of non-standard auto insurance products, for 3.6 million shares of common stock. In announcing the acquisition, Lawrence (Bud) Stumbaugh, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of AssuranceAmerica said, "This acquisition will help us reach our goal of $65.0 million of retail premium volume in 2005 and company wide premium volume of $100.0 million." Steve Speir, former owner of Cannon Insurance Agency, has over twenty (20) years experience in the retail insurance agency business and will continue to run the business for TrustWay under the name Cannon-TrustWay Insurance Agency. AssuranceAmerica focuses on the non-standard automobile insurance marketplace, primarily in Florida, Georgia and South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. . Its principal operating subsidiaries are TrustWay Insurance, which sells personal automobile insurance policies through its 32 retail agencies, AssuranceAmerica Managing General Agency, and AssuranceAmerica Insurance Company. This press release includes statements that may constitute "forward-looking" statements. These statements are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion