SACKETS HARBOR, N.Y., March 10, 2010 (GLOBE NEWSWIRE) -- Hackett's Stores, Inc. (Pink Sheets:HCKI), a subsidiary of Seaway Valley Capital Corporation (Pink Sheets:SEVA), announced today that its loan with the North Country Alliance, which had a remaining balance of over $38,000, has been completely satisfied.
"With the help of our parent company, we are glad to have satisfied this agency loan in full," stated Patrick Hackett President and CEO Herbert Becker, "and look forward to doing the same with each and every local development agency here in the North Country."
Hackett's Stores, Inc. is the parent company of Patrick Hackett Hardware Company and HIIO, Inc. Patrick Hackett Hardware Company has a wide variety of merchandise and business lines, including a full service paint department, consumer electronics, equipment rental, brand name clothing, footwear, sporting goods and gourmet foods. HIIO, Inc. represents a concept platform for a new specialty retailer focused on fashion clothing and outerwear, footwear and selected gift items. There are currently no HIIO-branded stores opened to date.
Safe Harbor Statement
Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast," "project," "intend," "expect," "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (finance or operating) or achievements to differ from future results, performance (financing and operating) or achievements expressed or implied by such forward-looking statements.