GVC Venture Corp. Completes Merger Transaction With Halo Group, Inc.
Posted on October 20, 2009
ALLEN, TX–(Marketwire – October 20, 2009) – GVC Venture Corp. (OTCBB: GPAX) in New York, NY announced today that on September 30th it acquired Halo Group, Inc. (“Halo”) in Allen, TX through a triangular reverse merger transaction. The acquisition was made by issuing to Halo common shareholders a special class of GVC Venture Corp. preferred stock. Were all the presently outstanding Halo preferred stock to be converted and all presently outstanding Halo stock options to be exercised, Halo common shareholders, preferred stockholders and option holders immediately prior to the merger would own approximately 96% of the common shares of GVC Venture Corp.
Halo is a nationwide financial services company which, through its nine subsidiaries, offers tools to assist consumers in achieving the American dream of home ownership. To accomplish this, Halo offers a full suite of services including mortgage brokerage, real estate representation and insurance protection. In addition, Halo has developed a complementary suite of services to provide assistance to consumers in times of financial distress. These services include mortgage loan modification, unsecured debt resolution and credit management. “We believe Halo’s completely integrated group of companies is the only one of its kind in the industry today. Our position in the market provides a compelling opportunity during these troubling economic times. We are prepared to meet this challenge head on and assist the consumers with their financial needs,” states Cade Thompson, Chairman & Chief Executive Officer.
As a consequence of the merger, Halo will now be able to access additional capital to continue the growth pattern Halo has established over the last several years. “We are thrilled at the completion of this transaction,” states Paul Williams, Vice Chairman & Chief Financial Officer. “This merger is the result of a lot of hard work on behalf of all parties involved and the strongly held belief our investors and employees had in this project. We deeply appreciate the hours and the dedication invested by all to make this happen.”
In addition to its new headquarters in Allen, TX, GVC Venture Corp. has an office located in the Chrysler Building in New York City. Prior to the merger, Bernard Zimmerman was the Chairman and Chief Executive Officer of GVC Venture Corp. Mr. Zimmerman had held the position of president of GVC Venture Corp. since 2004. Mr. Zimmerman remains as a director of GVC Venture Corp. GVC Venture Corp. has approximately 4,700 stockholders.
About Halo Group, Inc.
Halo Group, Inc. is a nationwide holding company based in Allen, TX with nine subsidiaries that operate primarily in the consumer financial services industry including debt, mortgage, real estate, credit, loan modification, and insurance. For more information about Halo Group, Inc., visit www.myhalogroup.com.
Cautionary Language Concerning Forward-Looking Statements:
Information set forth in this press release contains financial estimates and other forward-looking statements that are subject to risks and uncertainties, and actual results might differ materially. A discussion of factors that may affect future results is contained in GVC Venture Corp.’s filings with the Securities and Exchange Commission. GVC Venture Corp. disclaims any obligation to update and revise statements contained in this news release based on new information or otherwise.View all Archived Press Releases