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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: Kimberly Lee who wrote (7877)	6/10/1999 11:20:00 AM
From: InOverMyHead	Read Replies (1) \| Respond to of 108040

CDNO NEWS!!!!!!! Consolidated Capital of NorthAmerica Secures Payment Guarantee for Proposed Bond Offering June 10, 1999 11:10 AM DENVER--(BUSINESS WIRE)--June 10, 1999--Consolidated Capital of North America Inc. CDNO announced Thursday that it has secured a payment guarantee from an affiliate of a major insurance company for their proposed $4 million bond offering. The guarantee gives the bonds the equivalent of an A- rating. Once completed the bond offering will allow Consolidated to complete its $25 million refinancing with Foothill Capital Corp. and allow the company to move forward on two key acquisitions. Richard D. Bailey, president and chief operating officer of Consolidated stated that, "The successful completion of this financing will provide Consolidated with the capital necessary to proceed to our immediate goal of achieving profitability and reaching $100 million in annual sales." Consolidated Capital of North America Inc., through its three operating subsidiaries, Capital Metals, Angeles Metal Systems and Toledo Pickling and Steel currently employs over 150 people from its facilities in Torrance, Calif., Sacramento, Calif., Vancouver, Wash. Tacoma, Wash. and Toledo, Ohio. Safe Harbor Statement: The statements contained in this release that are not historical facts may contain forward looking statements that involve a number of known and unknown risks and uncertainties that would cause actual results to differ materially from those discussed or anticipated by management. Potential risks and uncertainties include among other factors, general business conditions, competitive market conditions, success of the company's growth and sales strategy, whether the company will suffer customer attrition, whether the financing will be completed, whether the transaction under letters of intent will be successfully completed and integrated, whether the company will have sufficient resources to realize its growth plans, fluctuations in margins, and other risks and uncertainties currently unknown to management. The company assumes no responsibility for updating this statement.