CORRECTING and REPLACING Linsang Manufacturing Closes Merger - Will Trade As 'LMIC'.Business Editors/High-Tech Writers CORRECTION...by LMIC LMIC Land Management Information Center (Minnesota) LMIC Labor Market Information Center LMIC Livestock Marketing Information Center LMIC Liberty Mutual Insurance Company LMIC Low or Middle-Income Countries LMIC Left Message for Incoming Call BELTSVILLE, Md.--(BUSINESS WIRE)--July 18, 2003 In BW5083, (MD-LMIC) Linsang linsang: see civet. Manufacturing Closes Merger - Will Trade As 'LMIC', the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors in the slug, headline, and in the first graph, third sentence should read xxx LMII (sted LMIC). The corrected release reads: Linsang Manufacturing Closes Merger - Will Trade As 'LMII' Linsang Manufacturing, Inc. (LMI LMI Labor Market Information LMI Local Management Interface LMI Logistics Management Institute LMI Linear Matrix Inequality LMI Legemiddelindustriforeningen (Norway) LMI Low to Moderate Income LMI Lender's Mortgage Insurance ) announced it closed its reverse merger with Cheshire Distributors, Inc. LMI sought the merger to become public. It will trade on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. as "LMII." The former owners of LMI now beneficially own approximately 85% of the outstanding stock of Cheshire, which has changed its name to LMIC, Inc. Following the closing, LMIC intends to continue its discussions with Laurus Master Fund related to concluding a $4 million accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying line of credit, as to which there can be no assurance of completion.. Kwok Li, founder and chairman of LMIC stated: "We are very excited about the opportunities for growth which a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. will provide. Our mission to grow both organically and by acquisition will certainly be furthered by this merger. We will work hard to enhance shareholder value in the months and years ahead for those who were owners of Cheshire and those who supported LMI, as well as those who see value in investing in LMIC." LMIC operates a state-of-the-art manufacturing facility in Beltsville, MD, strategically located between Baltimore and Washington, DC. The Company provides electronic manufacturing services (EMS) to established and emerging original equipment manufacturers (OEMs) in the networking and telecommunications, wireless, high-end computer, and industrial and medical instrumentation markets. For these customers, LMIC manufactures complex electronics, including components for complex life support systems in compliance with the highly regulated quality requirements of the medical instrumentation industry. LMIC is one of only a handful of ISO- iso- or is- pref. 1. Equal; uniform: isobar. 2. Isomeric: isopropyl. 3. 9001/2000 certified EMS providers in the mid-Atlantic region. Customers include private sector firms as well as governmental entities. LMIC is certified as a Minority Business Entity by the Maryland/DC Minority Supplier Development Council, which facilititates government contracting and subcontracting activities. LMIC also provides engineering design services, complex printed circuit board assembly utilizing advanced surface mount technology, electromechanical subassembly sub·as·sem·bly n. pl. sub·as·sem·blies An assembled unit forming a component to be incorporated into a larger assembly. , total system assembly and integration, component and system test, as well as other value added services. LMIC provides these services in the context of an integrated information environment that enables comprehensive data collection and full traceability from design through manufacturing, deployment, and upgrade in the field. Founded by Kwok Li and led by former Yurie Systems management, LMI began operations in January 2000 with three employees. Within nine months of operations, LMI achieved ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001 certification for the design, manufacture, and service of electronic equipment and now has over 50 employees. Forward-Looking Statements: Certain of the statements contained in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Actual results, events and circumstances (including future performance, results and trends) could differ materially from those set forth in such statements due to various factors, risks, and uncertainties LMIC has no duty and undertakes no obligation to update such statements. |
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