St. Joseph, Inc. Provides Update on Reverse Acquisition
TULSA, Okla.--(BUSINESS WIRE)-- St. Joseph, Inc. (OTCBB: STJO) discloses Zone USA, Inc. as its candidate for reverse takeover. Zone USA has a 50% ownership position in ANZ Communications, LLC, an operating telecommunications company with a history of servicing the telecommunications industry. St. Joseph has completed an in-depth due diligence which confirmed ANZ Communications had 2012 annual revenue of $122.3 million with an EBITDA of $7 million and no long-term debt. ANZ is based in Springfield, IL, with a network office in Frisco, Texas, and regional operations, sales and support offices in Los Angeles, CA, Cherry Hill, NJ, and Mount Pleasant, UT.
St. Joseph's President, Gerry McIlhargey stated, "We are pleased to be merging with Zone USA, a company currently being managed by a team of experienced telecommunications executives focused on tapping into the high growth opportunities in the telecom market segments in the United States. ZONE USA's jointly-controlled entity ANZ is uniquely positioned to capture a sizeable portion of the rural local exchange carrier market and is also expanding into the lucrative telecom segment servicing the enterprise and SMB markets. At the same time ZONE USA is actively pursuing various telecom opportunities relating to voice and data services, both through mobile and fixed broadband connectivity and applications."
St. Joseph's management is actively pursuing the next steps towards completion of the RTO. Those steps include a $14 million dollar net equity financing and conclusion of the commercial negotiation of the definitive agreement.
About St. Joseph, Inc.
St. Joseph is a holding company owning a subsidiary engaged in the staffing industry. To receive dissemination of St. Joseph Company news, register your email address with the company at firstname.lastname@example.org. More information about St. Joseph, Inc. is available at www.stjosephinc.com.
St. Joseph's shares are traded in the United States on the OTC Bulletin Board (OTCBB: STJO).
This press release consists of forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. In particular, there is no assurance that the parties will reach a definitive agreement for the proposed transaction or that the transaction will be completed. Additionally, no assurance can be provided that the terms of any transaction will be similar to those contemplated by the Letter of Intent. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, and actual results could differ materially from those indicated by such forward looking statements. The Company assumes no obligation to update the information contained in this press release, whether as a result of new information, future events, or otherwise.
KEYWORDS: United States North America Oklahoma
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