Capstone Companies Announces Exploration of Strategic Alternatives to Enhance Shareholder Value
March 01 2017 - 4:51PM
Capstone Companies, Inc. (OTCQB:CAPC) (“Capstone” or the
“Company”), a designer of innovative LED lighting solutions
including power failure lighting, today announced that its Board of
Directors, working together with its management team, is exploring
strategic alternatives to enhance shareholder value. The
Company and the Board are working with Wilmington Capital
Securities, LLC as financial advisor to assist in its
evaluation. The advisor will provide assistance in
identifying and assessing various potential opportunities to
enhance shareholder value through significant corporate
transactions, funding expansion and/or diversification of the
Company's primary business lines.
Stewart Wallach, Capstone’s President and CEO,
commented that the retention of Wilmington Capital Securities is
just one aspect of the Company's overall current strategic planning
and related efforts to explore the full spectrum of possible
options to improve the Company's business and build upon its
strengthened financial performance.
There is no set time table for this process of
exploring strategic alternatives. The Company stated that no
decision has been made with regard to any alternatives and that
there can be no assurance that the Board's exploration of strategic
alternatives will result in any transaction being entered into or
consummated. Capstone does not intend to discuss or disclose
developments with respect to this process until the Board has
approved a definitive course of action or otherwise concludes the
review of strategic alternatives.
About Capstone Companies, Inc.
Capstone Companies, Inc. is a designer of innovative LED lighting
solutions including power failure lighting, for consumers and
institutions. The Company’s products are sold under the
Capstone Lighting® and Hoover® HOME LED brands, to big box
retailers, wholesale clubs, and home improvement stores throughout
North America and in international markets. Capstone’s
strategy is to utilize its low-cost manufacturing base to provide
high-quality consumer products to its customers at a reasonable
price, using primarily direct import distribution.
Visit www.capstonecompaniesinc.com for more
information about the Company and www.capstoneindustries.com for
information on our current product offerings.
FORWARD-LOOKING STATEMENTS: This
news release contains "forward-looking statements" as that term is
defined in the Private Securities Litigation Reform Act of 1995, as
amended. Such statements consist of words like “anticipate,”
“expect,” “project,” “continue” and similar words. These
statements are based on the Company’s and its subsidiaries’ current
expectations and involve risks and uncertainties, which may cause
results to differ materially from those set forth in the
forward-looking statements. Factors that may cause actual
results to differ materially from those contemplated by such
forward-looking statements, include consumer acceptance of the
Company’s products, its ability to deliver new products, the
success of its strategy to broaden market channels, the
relationships it has with retailers and distributors the success of
its efforts in evaluating strategic alternatives. Prior
success in operations does not necessarily mean success in future
operations. The ability of the Company to adequately and
affordably fund operations and any growth will be critical to
achieving and sustaining any expansion of markets and
revenue. The introduction of new products or the expanded
availability of products does not mean that the Company will enjoy
better financial or business performance. The risks associated with
any investment in Capstone Companies, Inc., which is a small
business concern and a "penny-stock Company” and, as such, a highly
risky investment suitable for only those who can afford to lose
such investment, should be evaluated together with the risks and
uncertainties more fully described in the Company’s Annual and
Quarterly Reports filed with the Securities and Exchange
Commission. Capstone Companies, Inc. undertakes no obligation
to publicly update or revise any forward-looking statement, whether
as a result of new information, future events, or otherwise.
Contents of referenced URLs are not incorporated into this press
release.
For more information, contact
Company:
Aimee Gaudet
Corporate Secretary
(954) 570-8889, ext. 313
Investor Relations:
Deborah Pawlowski/Craig Mychajluk
Kei Advisors LLC
(716) 843-3908/(716) 843-3832
dpawlowski@keiadvisors.com/cmychajluk@keiadvisors.com
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