Post by Warren on Dec 8, 2004 11:57:36 GMT -5
Prime Rate Investors, Inc. Shareholders Receive Restricted Shares of National Hospitality Group, Inc.
12/8/2004 7:00:24 AM
ST. PETERSBURG, Fla., Dec 08, 2004 (PRIMEZONE via COMTEX) -- National Hospitality Group., Inc. (Pink Sheets:NHGP) announces that on November 15, 2004, Prime Rate Investors Inc. shareholders were issued restricted shares of National Hospitality Group, Inc. common stock. These shares distributed in the spin-off in NHGP -- are restricted for 12 months -- and have been distributed to the relevant brokerage firms on the 15th of November, 2004.
"We anticipate that individual shareholders will receive these shares in approximately the next 6 weeks according to our stock transfer agent," stated Damian Guthrie, President of NHGP. Mr. Guthrie continued, "We are pleased to have so many new shareholders in NHGP and we look forward to providing all the new and existing shareholders the opportunity to grow with our company."
The National Hospitality Group, Inc. operates through its wholly owned subsidiary Tampa Bay Mortgage Solutions, Inc., which is a direct lender specializing in short term asset based lending. The company specializes in acquisition financing, construction loans, and lines of credit for builders. The mission of the company is to build a diverse portfolio of debt and equity instruments that will provide the shareholders with both current income and capital appreciation. The specialty of the company is "hassle-free hard equity loans." The company has a web site www.nhgp.net.
The release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE: National Hospitality Group, Inc
12/8/2004 7:00:24 AM
ST. PETERSBURG, Fla., Dec 08, 2004 (PRIMEZONE via COMTEX) -- National Hospitality Group., Inc. (Pink Sheets:NHGP) announces that on November 15, 2004, Prime Rate Investors Inc. shareholders were issued restricted shares of National Hospitality Group, Inc. common stock. These shares distributed in the spin-off in NHGP -- are restricted for 12 months -- and have been distributed to the relevant brokerage firms on the 15th of November, 2004.
"We anticipate that individual shareholders will receive these shares in approximately the next 6 weeks according to our stock transfer agent," stated Damian Guthrie, President of NHGP. Mr. Guthrie continued, "We are pleased to have so many new shareholders in NHGP and we look forward to providing all the new and existing shareholders the opportunity to grow with our company."
The National Hospitality Group, Inc. operates through its wholly owned subsidiary Tampa Bay Mortgage Solutions, Inc., which is a direct lender specializing in short term asset based lending. The company specializes in acquisition financing, construction loans, and lines of credit for builders. The mission of the company is to build a diverse portfolio of debt and equity instruments that will provide the shareholders with both current income and capital appreciation. The specialty of the company is "hassle-free hard equity loans." The company has a web site www.nhgp.net.
The release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE: National Hospitality Group, Inc
