NEW YORK, Oct. 22, 2013 (GLOBE NEWSWIRE) -- The Staffing Group, Ltd (the "Company") (OTCBB:TSGL) today announced that, effective on October 21, 2013, its stock symbol has changed from "AVIA" to "TSGL." This also marks the effective date that the Company changed its name from Aviana Corp. to The Staffing Group, Ltd.
"This milestone is important as it is the next step in the development of our company in its current form," said Brian McLoone, CEO of The Staffing Group, Ltd. "We look forward to continuing to update investors on our progress with regard to The Staffing Group, its businesses and activities."
About The Staffing Group, Ltd.
The Staffing Group, Ltd. is a publicly held Nevada corporation. On August 27, 2013, the Company entered into letters of intent with The Safety Group, Ltd., ("TSG"), and EmployUS Ltd. ("EmployUS"), two privately held companies.
Pursuant to the letters of intent, the Company will commence the negotiation and preparation of definitive share exchange agreements with TSG and EmployUS whereby each company will exchange all of its shares of common stock for shares of the Company's common stock, which upon the completion of such agreements will constitute approximately 100% of each company's issued and outstanding common stock. Upon completion of such agreements, each company will become a wholly owned subsidiary of the Company. Upon completion of the aforementioned transactions, the Company will cease its current operations and engage in the acquired companies' businesses described below.
The Safety Group, Ltd.
TSG was formed in July 2013 by a group of seasoned industry professionals that saw a void in the marketplace. TSG was started to serve the areas of construction safety, fire safety, oil drilling safety and emergency preparedness across United States and will include training in all these areas. The Company expects the main source of revenue to be generated by providing site safety services to major construction projects by staffing licensed site safety managers and construction fire safety managers on construction sites, conducting safety audits and inspections and developing and filing site safety plans, health and safety plans and other construction-related plans.
EmployUS, Ltd.
EmployUS is a full service turnkey staffing company initially established to respond to the relief and recovery of the major oil spill in the Gulf of Mexico. EmployUS has since expanded to work on most major construction, chemical, and maritime projects in the Southeast United States.
EmployUS' services include:
- Payroll related taxes
- Workers' compensation coverage
- General liability insurance
- Professional risk management team
- 24/7 availability of office staff
- Safety equipment & training programs
- Drug & alcohol screenings
- Background checks/MVR reports
- Temporary to permanent workers.
As of the date of this release, the proposed transactions have not been completed. Although the Company anticipates that the transactions will be completed, there is no guarantee that the Company will be successful in completing the transactions.