Attached files
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| 8-K - PSM HOLDINGS INC | v212064_8k.htm |
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PrimeSource
Mortgage, Inc.
Corporate
Office
1112 North
Main Street
Roswell,
NM 88201
|
National
Press
Release
|
FOR
IMMEDIATE RELEASE
February
18, 2011
Contact
|
Name:
|
Jeffrey
R. Smith
|
|
Title:
|
President
and CEO
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|
Phone:
|
575-624-4170
|
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E-Mail:
|
jeff@wewalkyouhome.com
|
PSM
Holdings, Inc. to Acquire United Community Mortgage Corp. (UCMC)
(Roswell,
NM, 02/18/11) — PSMH, Inc. (OTCBB: PSMH-OB), a leading mortgage banking and
brokerage company in the Southwest, is pleased to announce that it has signed a
Letter of Intent (LOI) to acquire UCMC, Inc. United Community
Mortgage Corporation is a, “Full-Eagle", mortgage banking company based in
New York and New Jersey.
Under the
terms of the LOI, UCMC will be merged in to PSMI, the mortgage banking
subsidiary of PSMH. Upon the closing of the transaction, UCMC shareholders
will receive common shares from PSMH. Also at closing, transfer of
the Full Eagle designation will be transferred to PSMI.
Closing
of the transaction is subject to further negotiations and the execution of
a definitive agreement between the parties. It is anticipated the closing
will occur in the next 30 days. The shares to be issued in this transaction will
not have been registered under the Securities Act and may not be offered or
sold absent registration or applicable exemption from registration
requirements.
Jeff
Smith, President of PSMH commented, “We are thrilled about this acquisition as
it will become the cornerstone of our new mortgage banking
network. Having the Full-Eagle designation will lead to exponential
growth in the very near future."
About
PSM Holdings, Inc.
PSM
Holdings, Inc., through its wholly owned subsidiary, PrimeSource Mortgage, Inc.
(PSMI) provides mortgage brokerage and banking services across the United
States. PSMI is currently licensed in 15 states across the United States, and
oversees the operations of more than 30 branches. For more
information, visit http://www.psmholdings.com.
Forward-Looking
Statements:
Certain
statements contained herein, including, without limitation, statements
containing the words "believes," "intends" and other words of similar import,
constitute "forward-looking statements" within the meaning of Section 7A of
Securities Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended. Such statements include but are not limited to that we
are in the process of furthering several of the key milestones we achieved last
year and creating new growth opportunities for PSM Holdings, Inc. and its
subsidiaries, and that we will continue to enter new projects and strategic
partnerships in 2009. Such forward-looking statements involve known and unknown
risks, uncertainties and other factors, which may cause the actual results,
performance or achievements of PSM Holdings, Inc. to be materially different
from any future results, performance or achievements expressed or implied by
such forward-looking statements. Given these uncertainties, readers are
cautioned not to place undue reliance on such forward-looking statements. PSM
Holdings, Inc. disclaims any obligation to update or to announce publicly the
results of any revision of the forward-looking statements contained or
incorporated by reference herein to reflect future events or
developments.
Contact:
Jeffrey
R. Smith, President and CEO
575-624-4170
jeff@wewalkyouhome.com