Company to Carefully Review
Offer
ATLANTA, GA – via NuziNet.com – InvestorHub
Newswire - May 27, 2015 Labor SMART, Inc.
(OTCQB:LTNC) (the "Company"), a leader
in providing on-demand blue collar staffing primarily in the
southeastern United States, today announced that it has received an
unsolicited Letter of Intent.
On May 26, 2015 the Company received a non- binding Letter of
Intent from Command Center, Inc., a publicly traded direct
competitor of Labor SMART, to purchase substantially all of the
Company's assets for cash.
Ryan Schadel, Chairman and Chief Executive Officer of Labor
SMART, stated, "I appreciate the vote of confidence in our business
from a formidable competitor in our space. A sale of our assets to
Command Center looks interesting but there is much that must be
considered. Labor SMART is still very much a startup company and
our shareholders have been very supportive and patient while we
work through our capital structure challenges and debt load. While
I can see how our growth engine would be an attractive acquisition,
taking our chips off the table now seems premature. The offer will
be reviewed carefully with legal counsel and major stakeholders,
though at first glance it appears to be inadequate. We will respond
promptly and appropriately."
About Labor SMART, Inc.
Labor SMART, Inc. provides On-Demand temporary labor to a variety
of industries. The Company's clients range from small businesses to
Fortune 100 companies. Labor SMART was founded to provide reliable,
dependable and flexible resources for on-demand personnel to small
and large businesses in areas that include construction,
manufacturing, hospitality, event-staffing, restoration,
warehousing, retailing, disaster relief and cleanup, demolition and
landscaping. Labor SMART believes it can make a positive
contribution each and every day for the benefit of its clients and
temporary employees. The Company's mission is to be the provider of
choice to its growing portfolio of customers with a service-focused
approach that enables Labor SMART to be seen as a resource and
partner to its clients.
Safe Harbor Statement
This release contains statements that constitute 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. These statements appear in a number of places
in this release and include all statements that are not statements
of historical fact regarding the intent, belief or current
expectations of Labor SMART, Inc., its directors or its officers
with respect to, among other things: (i) financing plans; (ii)
trends affecting its financial condition or results of operations;
(iii) growth strategy and operating strategy. The words "may",
"would", "will", "expect", "estimate", "can", "believe",
"potential", and similar expressions and variations thereof are
intended to identify forward-looking statements. Investors are
cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, many of which are beyond Labor SMART, Inc.'s ability
to control, and that actual results may differ materially from
those projected in the forward-looking statements as a result of
various factors. More information about the potential factors that
could affect the business and financial results is and will be
included in Labor SMART, Inc.'s filings with the U.S. Securities
and Exchange Commission.
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