CIGARS ANYONE????
SDCC
BancPro Inc. Acquires Stock in
Scottsdale Cigar Company and
Provides Financing for Growth
Business Wire - April 17, 1998 13:36
%BANCPRO BCPO %ARIZONA %BANKING %MERGERS %ACQ
%TELECOMMUNICATIONS V%BW P%BW
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TEMPE, Ariz.--(BUSINESS WIRE)--April 17, 1998--BancPro
Inc. (OTC BB:BCPO) announces a significant transaction with
Scottsdale Cigar Company (OTC BB:SDCC) of Scottsdale,
Arizona where BancPro has acquired 150,000 of Scottsdale
Cigar's common shares, and extended financing to Scottsdale
Cigar Company.
Scottsdale Cigar Company, along with its wholly owned
subsidiary Desert Palm Scottsdale, is a distribution company
specializing in cigars, 3M/Imation Sport Film and Cameras, Advil,
Banana Boat, Igloo Coolers, and several other products.
Scottsdale Cigar distributes their vast product line to grocery
stores, convenience stores, and pro- shops. SDCC's clients
include, but are not limited to Albertson's Grocery Stores, Circle
K, and many more.
The Scottsdale Cigar Company is a publicly traded entity.
BancPro's chief executive officer, Ross Murphy, said, "BancPro is
pleased to contribute to Scottsdale Cigars' plans, and looks
forward the SDCC/BancPro affiliation..." Bruce Griffin, president,
of Scottsdale Cigar Company stated, "...we look forward to
having BancPro as a stockholder, and the BancPro association
came at a very strategic time in our business plan."
BancPro Inc. is a financial services and investment firm that seeks
and funds unique financing opportunities to secure above average
rates of return with intermediate size companies that either are
public or are in the process of going public, and finances medical
services. For more information please call Ross Murphy
888/730-1500.
This press release includes statements, which may constitute
forward-looking statements made pursuant to the safe harbor
provision of the Private Securities Litigation Reform Act of 1995.
This information may involve risks and uncertainties that could
cause actual results to differ materially from the forward looking
statements.
CONTACT: BancPro Inc., Tempe
Ross Murphy, 888/730-1500
www.bancpro.com
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