DALLAS, Nov. 28, 2014 /PRNewswire/ -- CVSL
Inc. [OTCQX: CVSL] said today that, with its uplisting
to a national securities exchange expected within several trading
days, the Company intends to immediately re-focus on its
acquisition strategy within the direct-to-consumer channel.
"Virtually all year we have been working on the process of
uplisting to a national securities stock exchange. By our
calculation, we will qualify for uplisting to a major U.S. exchange
late in this coming week. We are gratified that our uplisting
appears imminent," said John Rochon
Jr., Vice Chairman and head of CVSL's investment
committee.
"We have a robust deal funnel and we intend to get back to
acquiring companies that we believe will increase our stock
value. I am proud of our success in acquiring and
strengthening our first eight companies and meeting uplisting
requirements. Our decision to focus on moving to a major
exchange in 2014 has been well worth the effort and will be
possible without the immediate dilution to shareholders that would
have occurred if we had consummated an S-1 offering," said Mr.
Rochon.
"As we approach 2015, it's time to get back to the work of
M&A. We believe it is good for shareholders for us to
immediately resume making acquisitions, which we had put on hold
during the past several months. We intend to fund the next
several acquisitions primarily using debt as a source of capital,
preserving our cash and taking all the actions we can to protect
our shareholders from significant dilution."
About CVSL
(www.cvsl.us.com)
CVSL is a growing group of micro-enterprise companies that
connect social media networks into an ever-expanding virtual
"community" of social commerce. CVSL companies currently include
The Longaberger Company, a 42-year old maker of hand-crafted
baskets and other home décor items; Your Inspiration At
Home, an award-winning maker of hand-crafted spices and other
gourmet food items from around the world; Project Home, a
direct seller of Tomboy Tools, a line of tools designed for women
as well as home security systems; Agel Enterprises, a global
seller of nutritional products in gel form as well as a skin care
line sold under the Ageless brand, operating in 40
countries; Paperly, which offers a line of custom stationery
and other personalized products; My Secret Kitchen, a
U.K.-based seller of gourmet food products; and Uppercase
Living, which offers an extensive line of customizable vinyl
expressions for display on walls in the home. In addition,
CVSL and Golden Girls, a purchaser of gold and tradable
jewelry, have signed a definitive purchase agreement, which is
subject to customary closing conditions.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that
involve risks and uncertainties. All statements other than
statements of historical fact contained in this press release are
forward-looking statements. We have attempted to identify
forward-looking statements by terminology including "anticipate,"
"believe," "can," "continue," "could," "estimate," "expect,"
"intend," "may," "plan," "potential," "predict," "project,"
"should," or "will" or the negative of these terms or other
comparable terminology. Although we do not make
forward-looking statements unless we believe we have a reasonable
basis for doing so, we cannot guarantee their accuracy. Such
statements include statements regarding our continued growth, the
expected uplisting to a national securities exchange, the intended
acquisition and acquisition funding strategy and the benefits of
the various steps taken. These statements are only
expectations and involve known and unknown risks, uncertainties,
and other factors including the risk that our expected
uplisting, acquisitions or acquisition funding will not occur in
the time periods expected and the risks outlined under "Risk
Factors" in our Annual Report on Form 10-K for our fiscal year
ended December 31, 2013, our
Quarterly Reports on Form 10-Q, including the Quarterly Report
filed with the Securities and Exchange Commission for the
quarter ended September 30, 2014, and
those risks discussed in other documents we file with the
Securities and Exchange Commission, which may cause our actual
results, levels of activity, performance, or achievements expressed
or implied by these forward-looking statements to differ materially
from expectations. Except as required by law, we undertake no
obligation to update or revise publicly any of the forward-looking
statements after the date of this press release to conform our
statements to actual results or changed expectations.
Contact: Russell Mack
(rmack@cvsl.us.com)
Investor Relations: (scottp@cvsl.us.com)
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SOURCE CVSL Inc.