Storage Suites America Sets Record Date for Issuance of Compensation Stock for Broadleaf Shareholders.
LAS VEGAS--(BUSINESS WIRE)--Jan. 16, 2003
Storage Suites America (Pink Sheets:SSUA) announced today the company has set March 14, 2003 as the official record date in reference to the issuance of a 1-for-8 compensation stock for Broadleaf Capital Partners Inc. (OTCBB:BDLF) shareholders.
Under the terms of a recently finalized management and consulting agreement between Broadleaf and Storage Suites America, all Broadleaf shareholders as of the March 14, 2003 record date, are entitled to receive one share of SSUA stock for every eight shares of BDLF they hold. The shares are intended to be issued to a trustee named by BDLF for the sole benefit of BDLF shareholders.
The agreement calls for Broadleaf to provide management services and to facilitate access to a variety of funding sources to assist in the implementation of the Storage Suites America business plan.
Charles Snipes, president of Storage Suites America, stated, "The company is currently negotiating on a number of properties located in the western United States and in development with several limited partnerships. We are pleased that Broadleaf Capital elected to develop an agreement between us that is intended to provide a more immediate and tangible value to its shareholders."
About Storage Suites America
Storage Suites America intends to acquire, develop, own and operate self-storage facilities under a pre-identified regional clustering and branding strategy, establishing the Storage Suites America brand in key U.S. markets nationwide. Storage Suites America recently signed a placement agreement with NevWest Securities Corp., based in southern Nevada, to compile and issue a placement offering under an S-11 Registration for its national storage venture.
This announcement does not constitute an offer to sell or the solicitation of offers to buy any security and shall not constitute an offer, solicitation or sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements.
|Printer friendly Cite/link Email Feedback|
|Date:||Jan 16, 2003|
|Previous Article:||Compass Bancshares Announces Authorization for Additional Share Repurchase Program.|
|Next Article:||Canada's Largest Telecommunications Provider Calls on Nuance Speech Solutions for Excellence in Customer Care.|