2008-07-15 16:07:00
AUSTIN, Texas–(EMWNews)–Littlefield Corporation (OTCBB:LTFD) today announced it has
completed the acquisition of six (6) bingo halls in South Carolina
acting through appropriately formed and licensed wholly owned corporate
subsidiaries.
Jeffrey L. Minch, President and Chief Executive Officer of Littlefield
Corporation, offered the following comments:
“This acquisition
strengthens and broadens our portfolio and strategically positions us
for further growth and expansion in South Carolina.
We look forward to forging long term relationships with the
charities involved and to assist them in funding their noble causes.
Thanks to everyone who has contributed to our continued growth and
the completion of this acquisition.
Our recent growth in Florida, Texas and South Carolina where we
have added or are about to add a total of eleven (11) bingo halls — San
Angelo, Corpus Christi, El Paso, McAllen in Texas; Pensacola, Florida
and the six bingo halls in South Carolina — will take a bit of time to
digest but we have the management in place to assimilate these
additional bingo halls.
We will continue to seek additional acquisition and startup
opportunities and have a number of seemingly viable deals on the table
both in states in which we currently operate and in states which would
be new markets for the Company. We will aggressively
pursue acquisitions and prudently plan de novo startups.”
Littlefield Corporation is a Delaware Corporation headquartered in
Austin, Texas whose corporate subsidiaries are involved as licensed
commercial lessor and promoter (in South Carolina only) with
thirty-eight (38) charitable bingo halls in Texas, South Carolina,
Alabama and Florida. The Company has recently opened new bingo halls in
San Angelo and Corpus Christi, Texas and has also announced plans to
open two additional halls in El Paso and McAllen, Texas later this year.
Over 100 charities conduct bingo in these charitable bingo halls and in
2007 earned $3,700,000 to fund their noble causes. In addition, the
Company owns Premiere Tents & Events (party rental company).
Investors are always cautioned to be careful in drawing conclusions from
a single press release, the Company’s
performance in a single quarter or the individual opinions of any member
of the Company’s management in making their
individual investment decisions. Please refer to the Company’s
SEC filings for a more complete discussion of this matter.
In accordance with the safe harbor provisions of the Private
Securities Reform Act of 1995: except for historical information
contained herein, certain matters set forth in this press release are
forward-looking statements that are subject to substantial risks and
uncertainties, including government regulation, taxation, competition,
market risks, customer attendance, spending, general economic conditions
and other risks detailed in the Company’s
Securities and Exchange Commission filings and reports.
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Littlefield Corporation, Austin 512-476-5141 |
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