posted
SEVA, I was alerted on this the other day and I just got some more alerts on this one. I have added this to my radar list. Imo this one has the potental to explode again. Looking at the charts there is some real weak resitance ahead of this one and there is potental of seeing .001. We are at a great entry point here and we have been seeing some nice volume and should see some nice gains these next few days if we get some news on this. Good luck to you all and remember to do your own dd. Here is the latest news....
SACKETS HARBOR, N.Y., April 19, 2010 (GLOBE NEWSWIRE) -- Seaway Valley Capital Corporation (Pink Sheets:SEVA - News), a diversified holding company with holdings in Harbor Brewing Company, Inc. (Pink Sheets:HBWO - News) and Hackett's Stores, Inc. (Pink Sheets:HCKI - News), announced today that it has executed a term sheet with ACG Consulting, LLC ("ACG") for the purposes of developing the employment-based EB-5 visa program administered by the United States Citizenship and Immigration Services ("USCIS") under the Immigration Act of 1990 (the "EB-5 Program"). Detailed information on the EB-5 Program can be found on the USCIS website at http://www.uscis.gov/.
In summary, the EB-5 Program allows foreign nationals living outside the United States to invest in businesses in the United States, and if as a result of said investment a certain number of new jobs are created and maintained, the foreign national has the right to receive a U.S. visa. To this end, geographic centers called "Regional Centers" are created to manage and oversee the projects in which funds are invested.
The proposed deal would allow Seaway Valley to take a 49% interest in the Regional Center, which as currently proposed would cover New York, Massachusetts, Connecticut, Vermont, New Hampshire and Maine. More importantly, the transaction would include an initial capital raise of $30 million for certain holdings in Seaway Valley. As currently proposed, the capital raise itself would not be dilutive to the common shareholders of Seaway Valley, Hackett's Stores, Inc., or Harbor Brewing Company.
"Seaway Valley has been exploring the formation of a Regional Center and related capital raise for over fourteen months, and partnering with ACG Consulting will help us accomplish this goal," stated Chairman and CEO Thomas Scozzafava. "ACG's expertise in this field and global capital network are key to accomplish both the formation of the Regional Center and subsequent capital raise. Since the minimum foreign investment per individual is $500,000, a raise of $30 million would represent only sixty foreign investors." Mr. Scozzafava continued, "On our trip to China we saw tremendous interest in this program, and ACG has independently been developing an overseas infrastructure to promote these investment vehicles. The benefit to the Company and to the United States is increased access to low cost capital and permanent job growth, respectively."
As proposed, the Regional Center would provide funding projects in Hackett's Stores, Inc., which would include Patrick Hackett and certain new retail concepts, in the amount of $10,000,000, and Harbor Brewing Company, Inc., which would include brewing and baking operations and new restaurant concepts in the aggregate amount of $20,000,000. The capital would be used directly at the operating companies and could be used for both growth and debt reduction.
ACG Consulting is affiliated with ACG Companies (http://www.acgcompanies.com/) and possesses specialized expertise in the employment based EB-5 Program. It develops and provides economic research and consultation services to clients nationally and is currently working with a number of clients who in the aggregate are seeking to raise more than a billion dollars in capital from foreign investors
Posts: 221 | Registered: Sep 2009
| IP: Logged |
posted
Seaway Valley Capital Corporation and Hackett's Stores, Inc. in Discussions With Xiamen, China-Based Consulting Company to Source Manufacturers for New WiseBuys Venture WiseBuys Pay-at-Scan Venture With Partner ACG Consulting Developing Merchandise Sourcing Network
.Companies:Hackett's Stores, Inc.Seaway Valley Capital Corporation.Press Release Source: Hackett's Stores, Inc. On Tuesday April 20, 2010, 4:00 pm EDT
SACKETS HARBOR, N.Y., April 20, 2010 (GLOBE NEWSWIRE) -- Hackett's Stores, Inc. (Pink Sheets:HCKI - News), a holding of Seaway Valley Capital Corporation (Pink Sheets:SEVA - News), is pleased to announce that it has begun discussions with a Xiamen-based consulting group to develop Chinese manufacturing sources for its recently announced pay-at-scan venture, WiseBuys. Located across the strait from Taiwan, Xiamen's key manufacturing industries relevant to the proposed venture include electronics, pharmaceuticals, textiles, foodstuffs, and building materials among others.
WiseBuys President and CEO, Herbert Becker stated, "Seaway Valley has been laying the groundwork for this deal for many months, so these relationships haven't been formed over night." Mr. Becker continued, "China was a logical place to start since it provides such a large percentage of the consumer products currently in the U.S. retail network, but the venture will look to include manufacturing companies around the globe and in the United States."
The Xiamen-based relationship was developed with the assistance of ACG Consulting, with which the company recently executed a letter of intent to raise $7 million in new capital to fund WiseBuys and a separate software development company in conjunction with the formation of a joint venture EB-5 Region Center.
WiseBuys intends to develop a new discount retail concept wherein all merchandise is placed in each new store on consignment, which is referred to "pay-at-scan." The new business will seek partnering directly with manufacturers both in the United States and abroad. Merchandise being sought by WiseBuys would most likely be discounted obsolete or "over run" merchandise, and specialized software will enable each manufacturing partner to directly monitor its inventory, sales, and cash proceeds in a secured network environment. WiseBuys intends to open outlets only in larger population centers initially in the Northeast United States and in spaces greater than 50,000 square feet. WiseBuys will only open new stores where realistic target annual sales per square foot will be at $250 or greater
Posts: 149 | Registered: Oct 2009
| IP: Logged |
posted
This news is great. This is a goodt time to take a position in this in the am with this low entry price. Looking at the charts we could be seeing .0014 again.We have all the potenal of exploding. Good luck to u all
Posts: 221 | Registered: Sep 2009
| IP: Logged |
posted
Seaway Valley Capital Corporation (OTC.PK: SEVA) A majority equity stake of Seaway Valley Capital Corporation was acquired by current management in July 2007. Seaway Valley Capital Corp. makes equity and equity-related investments in companies that require expansion capital and in companies pursuing acquisition strategies. Seaway Valley also seeks investments in leveraged buyouts and restructurings. The Company’s management team brings significant transactional experience with over forty deals valued in aggregate at well over $1 billion. Seaway Valley Capital Corp. will consider investment opportunities in a number of different industries including retail, restaurants and hospitality, media, business services, and manufacturing and will also consider select technology investments.
Recent acquisitions and investments have been focused on strategic retail, consumer products, and hospitality assets that complement the Company’s current core portfolio businesses and that can be further positioned for growth outside the northern New York region. The company’s current holdings are well positioned to benefit from regional tourism, which is one of the fastest growing industries in the area, and our premium retailer and consumer products are well established locally and are being positioned for growth beyond the immediate trade area.
Operationally, acquisitions are quickly integrated into Seaway Valley with a focus on: (i) assistance in refining daily operations; (ii) allocation of strategic capital if needed; (iii) integration into Seaway’s advertising and marketing programs; and (iv) access to Seaway’s accounting, purchasing and administrative functions - all with the goal of driving revenues and streamlining
Seaway Valley Capital Current Portfolio
Posts: 38 | From: nyc | Registered: Dec 2009
| IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
