$LTNC Exciting News for Shareholders : Labor SMART, Inc. On May 26, 2015 the Company received a non- binding Letter of Intent from Command Center, Inc., a publicly traded direct competitor of Labor SMART,ticker $CCNI to purchase substantially all of the Company's assets for cash.
Ryan Schadel, Chairman and Chief Executive Officer of Labor SMART, stated, "I appreciate the vote of confidence in our business from a formidable competitor in our space. A sale of our assets to Command Center looks interesting but there is much that must be considered. Labor SMART is still very much a startup company and our shareholders have been very supportive and patient while we work through our capital structure challenges and debt load. While I can see how our growth engine would be an attractive acquisition, taking our chips off the table now seems premature. The offer will be reviewed carefully with legal counsel and major stakeholders, though at first glance it appears to be inadequate. We will respond promptly and appropriately."
About Labor SMART, Inc. Labor SMART, Inc. provides On-Demand temporary labor to a variety of industries. The Company's clients range from small businesses to Fortune 100 companies. Labor SMART was founded to provide reliable, dependable and flexible resources for on-demand personnel to small and large businesses in areas that include construction, manufacturing, hospitality, event-staffing, restoration, warehousing, retailing, disaster relief and cleanup, demolition and landscaping. Labor SMART believes it can make a positive contribution each and every day for the benefit of its clients and temporary employees.
The Company's mission is to be the provider of choice to its growing portfolio of customers with a service-focused approach that enables Labor SMART to be seen as a resource and partner to its clients.
Safe Harbor Statement This release contains statements that constitute forward-looking statements More information about the potential factors that could affect the business and financial results is and will be included in Labor SMART, Inc.'s filings with the U.S. Securities and Exchange Commission.
Contacts: Hayden IR 917-658-7878 shareholderrelations@laborsmart.com (MORE TO FOLLOW) Dow Jones Newswires May 27, 2015 08:30 ET (12:30 GMT) Story ID: 20150527SN007780 Keywords: MARKETWIRE, COMPANY NEWS, INDUSTRIALS, INDUSTRIAL & COMMERCIAL SERVICES-ALL, DOW JONES CONTENT SET SN, PRESS RELEASE WIRES, GRAND CENTRAL ASSET CLASS EQUITIES, MORE NEWS TO FOLLOW, SIGNIFICANT STORY, BUSINESS TRAINING & EMPLYMENT AGENCIES Symbols: LTNC
Ryan Schadel, Chairman and Chief Executive Officer of Labor SMART, stated, "I appreciate the vote of confidence in our business from a formidable competitor in our space. A sale of our assets to Command Center looks interesting but there is much that must be considered. Labor SMART is still very much a startup company and our shareholders have been very supportive and patient while we work through our capital structure challenges and debt load. While I can see how our growth engine would be an attractive acquisition, taking our chips off the table now seems premature. The offer will be reviewed carefully with legal counsel and major stakeholders, though at first glance it appears to be inadequate. We will respond promptly and appropriately."
About Labor SMART, Inc. Labor SMART, Inc. provides On-Demand temporary labor to a variety of industries. The Company's clients range from small businesses to Fortune 100 companies. Labor SMART was founded to provide reliable, dependable and flexible resources for on-demand personnel to small and large businesses in areas that include construction, manufacturing, hospitality, event-staffing, restoration, warehousing, retailing, disaster relief and cleanup, demolition and landscaping. Labor SMART believes it can make a positive contribution each and every day for the benefit of its clients and temporary employees.
The Company's mission is to be the provider of choice to its growing portfolio of customers with a service-focused approach that enables Labor SMART to be seen as a resource and partner to its clients.
Safe Harbor Statement This release contains statements that constitute forward-looking statements More information about the potential factors that could affect the business and financial results is and will be included in Labor SMART, Inc.'s filings with the U.S. Securities and Exchange Commission.
Contacts: Hayden IR 917-658-7878 shareholderrelations@laborsmart.com (MORE TO FOLLOW) Dow Jones Newswires May 27, 2015 08:30 ET (12:30 GMT) Story ID: 20150527SN007780 Keywords: MARKETWIRE, COMPANY NEWS, INDUSTRIALS, INDUSTRIAL & COMMERCIAL SERVICES-ALL, DOW JONES CONTENT SET SN, PRESS RELEASE WIRES, GRAND CENTRAL ASSET CLASS EQUITIES, MORE NEWS TO FOLLOW, SIGNIFICANT STORY, BUSINESS TRAINING & EMPLYMENT AGENCIES Symbols: LTNC
