Columbia Capital Corp. to Form Joint Venture With Minority Company
ABILENE, Texas, Sept. 22 /PRNewswire/ -- Columbia Capital Corp. (OTC Bulletin Board: CLCK - news) announced today that it has signed a Letter of Intent for a joint venture with a minority owned economic development and empowerment company. The purpose of the joint venture is to market credit and debit cards to the minority community.
According to Ken Klotz, president of Columbia, aside from marketing to the minority community, the joint venture will setup its own servicing operation, for providing customer service. Columbia will provide the management experience and the job training required for the new operation, which will be staffed primarily by minority employees.
Mr. Klotz said, ''I'm very happy about this new relationship, which we believe will greatly expand the processing business of Columbia's subsidiary, First Independent Computers, Inc., yet at the same time will provide job training and new jobs in the minority community.'' Klotz declined to comment further on the joint venture or identify the minority company involved until all of the details are finalized.
Columbia Capital Corp. operates through its wholly-owned subsidiary, First Independent Computers, Inc., which is a multi-faceted information and transaction processing service organization. The services provided by the Company include credit and debit card processing, transaction processing for the health care industry, bank and financial services processing and document management and distribution services. The Company concentrates on a niche market, consisting of small to medium-sized financial institutions and health care providers that have not achieved the economies of scale to operate their own in-house programs and systems.
Forward-looking statements in this press release are necessarily subject to risks and uncertainties, which may affect the accuracy of such statements. Such risks may include any delays in the addition of business or loss of existing customers. For a full discussion of such risks, please refer to the Company's Form 10-KSB for the fiscal year ended December 31, 1997 and subsequent filings. The company undertakes no obligation to update such factors or to publicly announce the results of any revisions to the forward- looking statements contained herein.
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