Colonial Commercial Corp. Announces an Extension of Its Odd Lot Tender Offer for Convertible Preferred Shares to December 31, 2008.HAWTHORNE, N.J. -- Colonial Commercial Corp. ("Colonial") (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. : "CCOM CCOM Cheshil.com CCOM Conference Council on Ministries (United Methodist Church) CCOM Chicago College of Osteopathic Medicine CCOM Conseil Canadien des Organismes de Motoneige CCOM Call Center Operations Management CCOM Center of Coastal Ocean Mapping ," "CCOMP"), today announced that it has extended to December 31, 2008 the odd-lot tender offer it made on September 2, 2008. The odd-lot tender offer is addressed to shareholders who owned 99 or fewer shares of the Company's convertible preferred stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". on August 20, 2008, and is for the purchase of those shares at $1.25 per share. The odd-lot tender offer documents previously forwarded to shareholders on September 2, 2008 and available on the Company's website remain in effect, except that the expiration date Expiration Date The day on which an options or futures contract is no longer valid and, therefore, ceases to exist. Notes: The expiration date for all listed stock options in the U.S. is changed to December 31, 2008. Through October 27, 2008, shareholders tendered a total of 1,259 shares of convertible preferred stock under the odd-lot tender offer. 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. Statement The foregoing press release may contain statements concerning Colonial Commercial Corp.'s financial performance, markets and business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets that may be considered "forward-looking" under applicable securities laws. Colonial cautions readers of this press release that actual results might differ materially from those projected in any forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Factors which might cause actual results to differ materially from any results that are projected in the forward-looking statements include the following: continued acceptance of the company's products in the marketplace, competitive factors, dependence upon third-party vendors, and other risks detailed in the company's periodic report filings with the Securities and Exchange Commission. These and certain other factors which might cause actual results to differ materially from those projected are detailed from time to time in Colonial's periodic reports and registration statements filed with the Securities and Exchange Commission, which important factors are incorporated herein by reference. Colonial undertakes no obligation to update forward looking statements to reflect changed assumptions, the occurrence of unanticipated events, or changes in future operating results, financial condition or business over time. |
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