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EX-99.2 - EX-99.2 - Lightyear Network Solutions, Inc. | g22063exv99w2.htm |
EX-2.2 - EX-2.2 - Lightyear Network Solutions, Inc. | g22063exv2w2.htm |
EX-2.3 - EX-2.3 - Lightyear Network Solutions, Inc. | g22063exv2w3.htm |
EX-10.5 - EX-10.5 - Lightyear Network Solutions, Inc. | g22063exv10w5.htm |
EX-2.1 - EX-2.1 - Lightyear Network Solutions, Inc. | g22063exv2w1.htm |
EX-99.3 - EX-99.3 - Lightyear Network Solutions, Inc. | g22063exv99w3.htm |
EX-99.1 - EX-99.1 - Lightyear Network Solutions, Inc. | g22063exv99w1.htm |
EX-10.2 - EX-10.2 - Lightyear Network Solutions, Inc. | g22063exv10w2.htm |
EX-10.1 - EX-10.1 - Lightyear Network Solutions, Inc. | g22063exv10w1.htm |
EX-10.4 - EX-10.4 - Lightyear Network Solutions, Inc. | g22063exv10w4.htm |
8-K - FORM 8-K - Lightyear Network Solutions, Inc. | g22063e8vk.htm |
EX-10.3 - EX-10.3 - Lightyear Network Solutions, Inc. | g22063exv10w3.htm |
Exhibit 99.4
Libra Alliance Corp. Completes Share Exchange Transaction with
Lightyear Network Solutions
Lightyear Network Solutions
Company to Pursue Strategic Acquisition and Organic Growth Strategies with
Industry Veteran J. Sherman Henderson as CEO
Industry Veteran J. Sherman Henderson as CEO
LOUISVILLE, KY, February 19, 2010 Libra Alliance Corporation (OTCBB: LBAL), announced today the
completion of a securities exchange transaction pursuant to which it acquired Lightyear Network
Solutions, LLC (Lightyear), as described in its Form 8-K filed today. Libras common stock is
traded on the OTC Bulletin Board under the symbol LBAL.
Based in Louisville, KY, Lightyear provides telecommunication services to large, medium and small
businesses and to residential consumers utilizing its extensive network of independent agents and
representatives throughout the United States. Lightyear generated approximately $44 million in
revenue for the nine months ended September 30, 2009 and $43 million for the nine months ended
September 30, 2008. Lightyears debt holders, comprised of Lightyears owners, released the Company
from approximately $26 million in short and long-term liabilities in exchange for the issuance of
10 million restricted shares of Libras common stock to be issued immediately and 9,500,000
restricted shares of Libras convertible preferred stock to be issued shortly after the closing.
The Company, employs approximately 84 full-time staff, and has partnered with some of the most
prominent companies in the telecom industry, including: Verizon, AT&T, Level 3, Qwest, Sprint,
Nextel and Cisco.
We are very pleased with the completion of this transaction as it positions us to broaden our
investor base, financially support an accelerated growth plan and implement a focused acquisition
strategy, said J. Sherman Henderson, Chief Executive Officer of Lightyear.
In 2004, Mr. Henderson was voted chairman of COMPTEL, the leading communications trade association,
made up of more than 250 member companies. He has over 36 years of business experience, including
roles spanning company ownership, sales, marketing and management.
The main focus for Lightyear will be continuing to service the telecommunications needs of our
approximately 60,000 business and residential customers utilizing our independent national sales
force of Lightyear Agent Partners, said Mr. Henderson.
Management intends to increase Lightyears revenue and earnings via a combination of organic and
acquisition growth. We are actively seeking to acquire multiple small to mid-sized competitors in
strategic locations throughout the US where we anticipate significant demand for Lightyears
service offerings.
As part of the share exchange transaction, the former officers of Libra have resigned and J.
Sherman Henderson, Lightyears Chief Executive Officer, has been appointed as CEO and to the Board
of Directors of Libra, Stephen Lochmueller has been appointed as Chief Operating Officer, Elaine G.
Bush has been appointed as Chief Financial Officer, and John J. Greive has been appointed as
in-house General Counsel for Libra.
Mr. Henderson concluded, With Lightyears debt and interest obligations to its parent being
extinguished via the exchange transaction, we believe that we are well positioned to initiate our
organic and acquisition growth strategies. As a public company our goal is simple we will look
to translate the benefits that we believe our products provide to our customers into sustainable
growth in revenues and earnings and, ultimately, increased shareholder value.
Lightyears product and service offerings include: local PRI and digital T1, enhanced internet
services, frame relay, MPLS, Point-to-Point, Voice Over IP (VoIP), local and long distance, calling
cards, and conferencing. Lightyear has also begun offering wireless services to customers in the
US through milestone wholesale contracts with multiple wireless voice and data service providers.
About Libra Alliance Corporation
Libra was incorporated under the laws of the State of Nevada on May 5, 1997, and previously
operated as an Internet service provider. For the past two fiscal years Libra has been actively
searching for suitable business opportunities, including a potential merger. Pursuant to the
securities exchange transaction, Lightyear became Libras principal operating company.
About Lightyear Network Solutions, LLC
Lightyear began operations in 1993 when J. Sherman Sherm Henderson III founded a predecessor
company under the name of UniDial. Sherman Henderson was named one of the top 25 Most Influential
People in Telecommunications and was elected for six consecutive terms as Chairman of COMPTEL, the
leading industry association representing communication service providers. Lightyear markets and
sells telecommunication services to large, medium and small businesses and to residential consumers
primarily through independent agents and representatives throughout the country. Lightyear built
its own VoIP network in 2004 to enhance its product offerings to its customers. Lightyear has
partnered with some of the most prominent names in telecom including: Verizon, AT&T, Level 3,
Qwest, Sprint, Embarq, PAETEC, Sylantro,
Cisco, Adtran, Voicecom, Iperia and Acme Packet. Lightyear is located in Louisville, Kentucky.
Additional information about Lightyear can be found at www.lightyear.net.
Forward-Looking Statements
This press release contains forward-looking statements for purposes of the Securities and
Exchange Commissions safe harbor provisions under the Private Securities Litigation Reform Act
of 1995 and Rule 3b-6 under the Securities Exchange Act of 1934. These forward-looking statements
are subject to various risks and uncertainties that could cause the Libras actual results to
differ materially from those currently anticipated. These forward-looking statements may include,
without limitation, statements about our marketing and acquisition opportunities, business
strategies, competition, expected activities and expenditures as we pursue our business plan.
Although we believe that the expectations reflected in any forward looking statements are
reasonable, we cannot predict the effect that market conditions, customer acceptance of products,
regulatory issues, competitive factors, or other business circumstances and risk factors described
in our filings with the Securities and Exchange Commission may have on our results. Libra
undertakes no obligation to revise or update any forward-looking statements in order to reflect
events or circumstances that may arise after the date of this press release.
Company Contact:
Libra Alliance Corporation
J. Sherman Henderson III, Chief Executive Officer
866-406-7253
info@lightyear.net
J. Sherman Henderson III, Chief Executive Officer
866-406-7253
info@lightyear.net
Financial Communications Contacts:
Porter, LeVay & Rose, Inc.
Marlon Nurse, V.P. Investor Relations
212-564-4700
marlon@plrinvest.com
Marlon Nurse, V.P. Investor Relations
212-564-4700
marlon@plrinvest.com
Trilogy Capital Partners
Darren Minton, Executive Vice President
800-592-6067
info@trilogy-capital.com
Darren Minton, Executive Vice President
800-592-6067
info@trilogy-capital.com