Willowtree Advisor, Inc. Acquires OmniReliant Corporation and Completes Securities Offering.TAMPA, Fla. -- Willowtree Advisor, Inc. ("Willowtree" or the "Company") (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :WLLW) and OmniReliant Corporation ("OmniReliant") announced today that they completed a definitive Securities Purchase and Stock Exchange Agreement, providing for the acquisition by Willowtree of all the issued and outstanding shares of OmniReliant. As a result, OmniReliant has become a wholly-owned subsidiary of Willowtree. Upon completion of the acquisition of OmniReliant, Chris Phillips Chris Phillips (born March 9, 1978 in Fort McMurray, Alberta, Canada) is a Canadian professional ice hockey player. He has been a member of the National Hockey League's Ottawa Senators for his entire career, which began with the 1997-98 season. was elected to serve as Chief Executive Officer and was named as a director and Paul Morrison Paul Morrison is the name of:
The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. and President of Willowtree. Also in conjunction with the transaction, Willowtree has concluded a private placement with an institutional accredited investor Accredited Investor A term used by the Securities and Exchange Commission (SEC) under Regulation D to refer to investors who are financially sophisticated and have a reduced need for the protection provided by certain government filings. Also known as "qualified purchaser". in the amount of $3,000,000. The Company issued Series A 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". , Series A-1 Warrants, and Series A-2 Warrants to the investor. Midtown Partners & Co., LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ("Midtown Partners") acted as the sole placement agent in this transaction. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Chris Phillips, Chief Executive Officer of Willowtree, "We are excited that we have completed the transaction. Being public should allow us to execute our business model." About OmniReliant Corporation OmniReliant Corporation engages in the creation, design, distribution, and sale of affordable luxury products available to U.S. and international consumers through direct response infomercials, live shopping networks, ecommerce, direct mail and traditional retail channels. We will first focus on bringing the Kathy Hilton Kathy Hilton (born Kathleen Elizabeth Avanzino on 13 March 1959) is an American socialite and sometime actress. "Private Beauty Spa" product line to market and developing other personalities and designer licenses for the Company. About Midtown Partners & Co., LLC Originally founded in May 2000, Midtown Partners & Co., LLC is an investment bank focused on private placement investment banking opportunities. The investment banking group at Midtown Partners & Co., LLC was founded on the premise that client relationships and industry focus are keys to the success of emerging growth companies. Such companies require investment banking services from a firm with a unique understanding of the marketplace and the nature of these transactions. Additional information can be found at http://www.midtownpartners.com. The corporate offices of Willowtree are located at 4902 Eisenhower Blvd., Suite 185, Tampa, FL 33634. Questions may be addressed to Chris Phillips, Chief Executive Officer, at 813-885-5998. Forward-Looking-Statement: Except for factual statements made herein, the information contained in this press release consists of forward-looking statements that involve risks and uncertainties, including the effect of changing economic conditions, customer acceptance of products and other risks and uncertainties. Such forward-looking statements are not guarantees of performance, and Willowtree and OmniReliant results could differ materially from those contained in such statements. These forward-looking statements speak only as of the date of this release, and Willowtree and OmniReliant undertake no obligation to publicly update any forward-looking statements to reflect new information, events or circumstances after the date of this release. |
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