Attached files
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8-K - FORM 8-K - ARCADIA RESOURCES, INC | c07454e8vk.htm |
EX-5.1 - EXHIBIT 5.1 - ARCADIA RESOURCES, INC | c07454exv5w1.htm |
EX-1.1 - EXHIBIT 1.1 - ARCADIA RESOURCES, INC | c07454exv1w1.htm |
EX-10.1 - EXHIBIT 10.1 - ARCADIA RESOURCES, INC | c07454exv10w1.htm |
Exhibit 99.1
ARCADIA RESOURCES ANNOUNCES REGISTERED DIRECT OFFERING
INDIANAPOLIS, INDIANA, October 29, 2010 Arcadia Resources, Inc. (NYSE Amex: KAD), a leading
provider of innovative consumer health care services under the Arcadia HealthCareSMbrand, today announced that it will sell up to $5.0 million of securities in a registered
direct offering. Under the terms of separate Subscription Agreements with the investors, Arcadia
will sell up to 15,625,000 shares of common stock for a purchase price of $0.32 per share.
The securities were offered through Wilmington Capital Securities, LLC, as placement agent, by
Intrinsic Advisory Group, Inc., and HFP Capital Markets, LLC, as sub-placement agent.
The closing of the offering is expected to occur promptly upon satisfaction of customary closing
conditions, including NYSE Amex LLC approval and required FINRA approvals.
A shelf registration statement previously filed with the Securities and Exchange Commission (SEC)
relating to the shares of common stock issued in the offering is effective, and a prospectus
supplement relating to the offering will be filed with the SEC. Copies of the prospectus supplement
and accompanying prospectus may be obtained directly from the Company by contacting Arcadia
Resources, Inc., 9320 Priority Way West Drive, Indianapolis, IN 46240. This announcement is
neither an offer to sell nor a solicitation of an offer to buy any of our shares of common stock.
No offer, solicitation or sale will be made in any jurisdiction in which such offer, solicitation
or sale is unlawful.
About Arcadia HealthCare
Arcadia HealthCare is a service mark of Arcadia Resources, Inc. (NYSE Amex: KAD), and is a leading
provider of home care, medical staffing and pharmacy services under its proprietary DailyMed
program. The Company, headquartered in Indianapolis, Indiana, has 65 locations in 18 states.
Arcadia HealthCares comprehensive solutions and business strategies support the Companys vision
of Keeping People at Home and Healthier Longer.
Exhibit 99.1
Forward Looking Statements
Any statements contained in this release that are not historical facts are forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21A of the Securities Exchange Act of 1934, as amended and otherwise within the meaning of court
opinions construing such forward-looking statements. The Company claims all safe harbor and other
legal protections provided to it by law for all of its forward-looking statements. Forward-looking
statements are not guarantees of future performance and involve known and unknown risks, estimates,
uncertainties and other factors, which could cause actual financial or operating results,
performances or achievements expressed or implied by such forward-looking statements not to occur or be realized, including our estimates of consumer demand for our services
and products, required capital investment, competition, and other factors. Actual events and
results may differ materially from those expressed, implied or forecasted in forward-looking
statements due to a number of factors. Important factors that could cause actual results,
developments and business decisions to differ materially from forward-looking statements are
described in the Companys filings with the Securities and Exchange Commission from time to time,
including the section entitled Risk Factors and elsewhere in the Companys most recent Annual
Report on Form 10-K and subsequent periodic reports. Among the factors that could cause future
results to differ materially from those provided in our press release are: (i) we cannot be certain
or our ability to generate sufficient cash flow to meet our obligations on a timely basis; (ii) we
may be required to make significant business investments that do not produce offsetting increases
in revenue; (iii) we may be unable to execute and implement our growth strategy; (iv) we may be
unable to achieve our targeted performance goals for our business segments; and (v) other
unforeseen events may impact our business. The forward-looking statements speak only as of the date
hereof. The Company disclaims any obligation to update or alter its forward-looking statements,
except as may be required by law.
Contact: |
Matthew Middendorf |
Chief Financial Officer |
mmiddendorf@arcadiahealthcare.com |
(317) 569-8234 |
Bill Bunting |
In-Site Communications, Inc. |
(212) 759-3929 / (415) 517-7013 |
bbunting@insitecony.com |