Seaway Valley Capital Corporation to Reduce Shares Outstanding by 4 Billion
March 18 2010 - 10:44AM
Seaway Valley Capital Corporation (Pink Sheets:SEVA), a diversified
holding company with holdings in Harbor Brewing Company, Inc. (Pink
Sheets:HBWO) and Hackett's Stores, Inc. (Pink Sheets:HCKI),
announced that Seaway Capital, Inc., a holding company beneficially
owned by the wife of Thomas W. Scozzafava, the Company's Chairman,
shall cancel 4 billion shares of its common stock holdings in the
Company. The planned cancelation is motivated by the desire to
offset recent share issuances by the company pursuant to existing
convertible debt agreements.
About Seaway Valley Capital Corporation:
Seaway Valley Capital Corporation
(www.seawayvalleycapitalcorp.com) makes equity, equity-related, and
debt investments in companies that require expansion capital.
Seaway also seeks investments in leveraged buyouts and
restructurings. Seaway will consider investment opportunities
in a number of different industries, including retail, restaurants,
consumer products, media, business services, manufacturing, and
select technologies.
CONTACT: Seaway Valley Capital Corporation
contact@seawaycapital.com
www.seawayvalleycapitalcorp.com