Premiere Publishing Group has set a definitive closing date of July 15th, 2010 for the closing of its acquisition of BOLD TV Corporation. Premiere will close the transaction in a newly formed subsidiary known as BOLD Entertainment Group, Inc.
Premiere’s president, Omar Barrientos, stated, “We are delighted to have a definitive date in which to close our aquisition of BOLD TV Corporation, Inc. and we look forward to a long and very fruitful relationship with them.
“This will be the beginning of a campaign to aggressively seek out acquisitions that will substantially increase shareholder value while minimizing dilution thru the use of our subsidiary financing model.
“We are also in the process of negotiating the restructuring of our balance sheet and we have the cooperation of the majority of our creditors. We expect to have a formal plan presented to all of the creditors in the next 30 days for their approval.
“We continue to stay current with our SOX compliance requirements and will have more details as it relates to our improving financial condition in the coming quarterly reports.
“These steps we are taking now will mark a new era for our shareholders and as we move forward with our plan for acquiring businesses. We are also speaking with several key principals with substantial backgrounds in Mergers and Acquisitions and finance to further enhance our deal team and join our Board of Directors. We expect to make these announcements in the very near future.
“We are in the process of a complete transition to utilize the talents of our constituents to create a public company that is specific to acquiring profitable businesses to increase shareholder value.”
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