James Monroe Capital Corporation Acquires Second British Columbia Corporation in All-Stock Deal
September 21 2010 - 2:36PM
Business Wire
James Monroe Capital Corporation, a Delaware corporation
(OTC:JMON), is pleased to announce that it has acquired all issued
and outstanding shares of SHN Holdings Inc., a British Columbia
corporation, in exchange for 200,000 shares of JMON’s Preferred
Class, Series B stock.
In the all-stock transaction, SHN Holdings, a natural resources
company with leased land in Tanzania from which it extracts
precious metals, becomes a wholly-owned subsidiary of JMON.
This marks the second acquisition JMON has conducted in as many
months, having acquired another British Columbia-based natural
resources company – Microline Veneer and Forest Products Corp. – in
August
“We are pleased to be able to acquire SHN, as it continues our
aggressive strategy to add natural resource companies to our
conglomerate, and furthers our expansion of our business
opportunities both geographically as well as in terms of our scope
of operations,” stated Robert Bryan, JMON’s President. “It
continues to fulfill our vision of a vertically-integrated supplier
of raw materials as well as large-scale art installations and other
projects.”
Hanif Jina, president of SHN Holdings, agreed, saying “We are
proud to now be a part of the JMON family of companies and look
forward to providing value with the precious metals we extract from
our leased land in Tanzania.”
About James Monroe Capital
Corporation
James Monroe Capital Corporation is a development-stage
conglomerate emphasizing investment in patentable concepts and/or
business plans in the raw materials and large-scale art
installation industries, creating vertical integration synergies as
well as profiting off of the patentable concepts.
About SHN Holdings
Inc.
SHN Holdings is a precious metals business, founded by its
current president, Hanif Jina. It currently holds a lease on
certain land – set to expire in 2016 – in Tanzania from which it
currently extracts a small amount of precious metals. Sales of its
polished and cut precious metals in the fiscal year ended June 30,
2010 was approximately $6,000.
For More Information, please contact Robert Bryan, President of
JMON.www.jamesmonroecapitalcorp.com
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