Printer Friendly
The Free Library
14,380,430 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

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:
  • John Paul Morrison (born 1937), Canadian computer programmer
  • Paul J. Morrison (born 1954), American politician and lawyer
  • Paul Morrison (born 1966), English painter
 was elected Chief Operating Officer Chief Operating Officer (COO)

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 (1959--) (age 48)) 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.
COPYRIGHT 2006 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Nov 22, 2006
Words:451
Previous Article:Handmark(R) Pocket Express(TM) News and Information Service Packaged with New Palm Treo 680 Smartphone.
Next Article:Holiday Poll Finds American Consumers are Spending Strong, but Buying Cheaper.



Related Articles
Case, Pomeroy & Company, Inc. Announces the Receipt of an Acquisition Proposal and the Formation of a Special Committee.
Petramerica Oil, Inc. Information To Be Available Through S&P Market Access Program.
The Tuckerman Group Announces Investments in Two Rancho Cucamonga Apartment Communities.
Airgas Completes Acquisition of Aeriform.
$9b Trizec deal closed.
WealthCraft Completes Acquisition.
SunLink Health Systems Completes Evaluation of Strategic Alternatives; to Focus on Existing Business Plan.
Willowtree Advisor, Inc. Signs Kathy Hilton to Worldwide Skincare License and Announces the Addition of Four New Directors to Its Board.
Jefferies Quarterdeck Serves as Exclusive Financial Advisor In C$391.5-Million Sale of CMC Electronics, an ONCAP Portfolio Company, to Esterline...
Kathy Hilton Honored at Women's Project Annual Gala.

Terms of use | Copyright © 2009 Farlex, Inc. | Feedback | For webmasters | Submit articles