Printer Friendly

U.S. PAWN ANNOUNCES EXPANSION

 U.S. PAWN ANNOUNCES EXPANSION
 DENVER, April 6 /PRNewswire/ -- U.S. Pawn Inc. (NASDAQ: USPN)


announced today that it intends to open two new pawnshops in its Denver metropolitan operating area. The two new stores will bring the number of company locations to eight versus five locations the company operated during 1991. The company has applied for pawnshop licenses covering the new locations in Englewood and Lakewood, Colo., and expects approval of these licenses within a few weeks. These new stores will be funded by cash flow from existing operations and proceeds from the exercise of the company's Class B common stock purchase warrants, which total $400,000 to date.
 "This continued expansion reinforces our position as the largest operator of pawnshops in Colorado," said Melvin Wedgle, president. "It was made possible by the continued improvement in the profitability of our existing operations, and by the proceeds of the Class B warrants."
 The company indicated that it expects to report record results for its second fiscal quarter ended March 31, 1992 in approximately two weeks.
 -0- 4/6/92
 /CONTACT: Fred Baker of U.S. Pawn, 303-571-4704; or Harvey Cohen or Cary Polevoy of Phenix Investor Relations, 800-383-9081 or 303-573-0210, for U.S. Pawn/
 (USPN) CO: U.S. Pawn Inc. ST: Colorado IN: SU:


MC -- DV004 -- 5445 04/06/92 14:52 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 6, 1992
Words:223
Previous Article:KEPTEL ANNOUNCES CLOSING OF ARMIGER/EPITOME SALE; FORECASTS RESULTS
Next Article:ADVACARE ANNOUNCES ORGANIZATIONAL DEVELOPMENTS


Related Articles
U.S. PAWN ANNOUNCES CLASS B WARRANT EXERCISE
U.S. PAWN ANNOUNCES RECORD RESULTS FOR SECOND QUARTER NET INCOME INCREASES 209 PERCENT
U.S. PAWN ANNOUNCES SUCCESSFUL COMPLETION OF COMMON STOCK PURCHASE WARRANT EXERCISE
U.S. PAWN RESPONDS TO INQUIRIES BECAUSE OF NEWSPAPER ARTICLE
FIRST CASH ACQUIRES MARYLAND PAWN SHOP CHAIN
U.S. PAWN, INC. ACQUIRES WYOMING COMPANY
U.S. PAWN, INC. ANNOUNCES THREE STORE ACQUISITION
U.S. Pawn, Inc. Signs Letter of Intent to Acquire Ten Store Chain.
U.S. Pawn and Cash-N-Pawn to Merge.
EZCORP Announces President of Worldwide Pawn.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters