Posted On: 09/25/2014 10:12:41 AM
Post# of 84
CORRECTION; This press release corrects and replaces in its entirety, various inaccurate information regarding the press release entitled “Sunset Capital Assets, Inc. (SSBN) Announces Merger With The Mint Leasing, Inc. (MLES)”, released by Sunset Capital Assets, Inc. on September 24, 2014, regarding the closing of its transaction with The Mint Leasing, Inc., including, but not limited to, the type of transaction; the relationship of the parties; certain financial information contained therein; various quotes attributed to the principals of the parties; various projections contained in such release; the status of the parties following the closing; and the future plans of the parties contained therein. The corrected release is provided below and the entirety of the information contained in the prior release should be disregarded. We apologize for any confusion this mistake may have created.
The Mint Leasing, Inc. (“Mint”), a Nevada corporation, trading on the Over the Counter (OTC) markets “Bulletin Board” as MLES, and Sunset Brands, Inc. dba Sunset Capital Assets, a Nevada corporation, trading on the Over the Counter (OTC) markets “Pink Sheets” as SSBN (“Sunset” or the “Company”), today announced that they had completed a share exchange (“the exchange”), pursuant to which Mint exchanged 42.3% of its post-transaction common stock with Sunset in consideration for 100% of the voting securities and 99% of the non-voting securities of Investment Capital Fund Group, LLC Series 20 (“ICFG”). Mint is based in Houston, Texas and owns and operates an auto finance company specializing in both financing and leasing automobiles.
Sunset is a diversified financial services firm focusing on acquisition and investment in insured banks, mortgage companies, real estate, title insurance, insurance, auto financing, commercial financing, investment banking, and management consulting service primarily in the Southeast United States.
Prior to the exchange, Mint had total assets of approximately $18 million as of June 30, 2014, and projected annual revenues of approximately $8.2 million for fiscal 2014. Pursuant to the exchange, Sunset transferred ownership (as described above) of a special purpose entity which owns sapphire gem assets recently valued to have a retail replacement value in excess of $108 million. Sunset received 62,678,872 shares of common stock from Mint in consideration for the ownership interests of ICFG acquired in the exchange. Mint believes that the assets acquired will add to Mint’s balance sheet asset value with the goal of enabling Mint to leverage such additional assets to obtain funding that will allow Mint to originate and service new subprime auto receivables.
It is also anticipated that Mint and Sunset will enter into further agreements whereby Mint will become the lead entity for Sunset’s entrance into the auto finance space in the future
The Mint Leasing, Inc. (“Mint”), a Nevada corporation, trading on the Over the Counter (OTC) markets “Bulletin Board” as MLES, and Sunset Brands, Inc. dba Sunset Capital Assets, a Nevada corporation, trading on the Over the Counter (OTC) markets “Pink Sheets” as SSBN (“Sunset” or the “Company”), today announced that they had completed a share exchange (“the exchange”), pursuant to which Mint exchanged 42.3% of its post-transaction common stock with Sunset in consideration for 100% of the voting securities and 99% of the non-voting securities of Investment Capital Fund Group, LLC Series 20 (“ICFG”). Mint is based in Houston, Texas and owns and operates an auto finance company specializing in both financing and leasing automobiles.
Sunset is a diversified financial services firm focusing on acquisition and investment in insured banks, mortgage companies, real estate, title insurance, insurance, auto financing, commercial financing, investment banking, and management consulting service primarily in the Southeast United States.
Prior to the exchange, Mint had total assets of approximately $18 million as of June 30, 2014, and projected annual revenues of approximately $8.2 million for fiscal 2014. Pursuant to the exchange, Sunset transferred ownership (as described above) of a special purpose entity which owns sapphire gem assets recently valued to have a retail replacement value in excess of $108 million. Sunset received 62,678,872 shares of common stock from Mint in consideration for the ownership interests of ICFG acquired in the exchange. Mint believes that the assets acquired will add to Mint’s balance sheet asset value with the goal of enabling Mint to leverage such additional assets to obtain funding that will allow Mint to originate and service new subprime auto receivables.
It is also anticipated that Mint and Sunset will enter into further agreements whereby Mint will become the lead entity for Sunset’s entrance into the auto finance space in the future
(0)
(0)Scroll down for more posts ▼
