NNCO.014 news just out in Homeland and
Global Security.(COMTEX) B: Nannaco, Inc. Signs Letter of Intent to Acquire Red Alert Grou
, Inc. ( PRNewswire-FirstCall )
B: Nannaco, Inc. Signs Letter of Intent to Acquire Red Alert Group, Inc. ( PRNew
wire-FirstCall )
SAN ANTONIO, Mar 29, 2004 /PRNewswire-FirstCall via COMTEX/ -- Nannaco, Inc.
(OTC Bulletin Board: NNCO), today announced it signed a Letter of Intent to
acquire Red Alert Group, Inc., a private company specializing in Homeland and
Global Security. Upon consummation of the contemplated acquisition, Nannaco,
Inc. will elect a new slate of directors and officers drawn from Red Alert
Group's existing directors and officers. Steven Careaga, Nannaco's present
Chairman and CEO will remain as a director. Nannaco will also change its name to
Red Alert Group, Inc. and obtain a new ticker symbol. The transaction is
expected to close as soon as practicable.
Red Alert Group primarily provides solutions for Homeland Security, Cyber
Security, and Private Military Security. The firm is active in Counterterrorism
-- creating measures, procedures, and training as well as mitigation and
recovery strategies. Red Alert Group operates in the US from its headquarters in
Atlanta and its government office in Washington. Red Alert Group International
BV, in The Hague, and Red Alert Group Pte. Ltd., in Singapore are wholly-owned
subsidiaries, and the company has a representative office in Kuwait.
Steven Careaga, CEO of Nannaco, Inc. said, "Red Alert's successful history and
more than $2 million of existing revenues present an exciting opportunity for
Nannaco and its shareholders to enter the rapidly growing Homeland Security
industry."
The proposed transaction is subject to customary closing conditions, including
due diligence, execution of a Definitive Agreement and approval by the
respective Board of Directors (and, to the extent required by applicable law,
shareholders). There can be no assurance that the transaction will be completed.
More information about Nannaco, Inc. can be found at www.sec.gov and on Red
Alert Group, visit its website at www.redalertgroup.com .
This press release may contain "forward-looking statements." In some cases, you
can identify forward-looking statements by terminology such as "may," "will,"
"should," "could," "expects," "plans," "intends," "anticipates," "believes,"
"estimates," "predicts," "potential" or "continue" or the negative of such terms
and other comparable terminology. These forward-looking statements include,
without limitation, statements about our market opportunity, our strategies,
competition, expected activities and expenditures as we pursue our business
plan, and the adequacy of our available cash resources. Although we believe that
the expectations reflected in any forward-looking statements are reasonable, we
cannot guarantee future results, levels of activity, performance or
achievements. Actual results may differ materially from the predictions
discussed in these forward-looking statements. Changes in the circumstances upon
which we base our predictions and/or forward-looking statements could materially
affect our actual results. Additional factors that could materially affect these
forward-looking statements and/or predictions include, among other things: (1)
our limited operating history; (2) our ability to pay down existing debt; (3)
our ability to retain the professional advisors necessary to guide us through
our corporate restructuring including, but not limited to, our contemplated
transaction with Windham Resources, Inc.; (4) the risks inherent in the
investigation, involvement and acquisition of a new business opportunity; (5)
unforeseen costs and expenses; (6) potential litigation with our shareholders
and/or former or current investors; (7) the Company's ability to comply with
federal, state and local government regulations; and (8) other factors over
which we have little or no control.
For further information, please contact Steve Careaga at 253-853-3632, or send
correspondence to 7235 North Creek loop, Gig Harbor, WA 98335.
SOURCE Nannaco, Inc.
CONTACT: Steve Careaga of Nannaco, Inc., +1-253-853-3632 |
