ORLANDO, Fla., April 7, 2005 (PRIMEZONE) -- Supreme Realty Investments, Inc. (OTCBB:SUPR) today announced that it has entered into a private placement agency agreement with M.R. Beal & Co. to place up to $40 million of its debt and convertible securities. The funds will be used to acquire a portfolio of four (4) hotels containing an aggregate of 938 rooms in major cities throughout the Midwest. The company expects to complete all of the acquisitions by mid-June, 2005.
"This is a significant investment opportunity for Supreme," said Tom Elliott, chairman and chief executive officer. "We are also excited about the opportunity to work with M. R. Beal to take advantage of its knowledge and expertise in investment banking and corporate finance."
Based in Orlando, Fla., Supreme Realty Investments, Inc.(OTCBB:SUPR) is a real estate operating company (REOC) that is primarily focused on creating shareholder value through acquisitions of name-brand hotel and resort properties that can benefit from product, operational and repositioning strategies.
M.R. Beal & Co. is one of Wall Street's oldest minority-owned investment banking firms. Established in 1988, M. R. Beal & Company offers investment banking, financial advisory and broker dealer services to municipalities, state governments and corporations. Headquartered in New York City, with offices in Sacramento, Chicago, Dallas, and Baltimore, Beal has served as an underwriter in over 515 corporate transactions totaling over $140 billion, making M. R. Beal & Company one of the top minority underwriters of corporate debt and equity securities nationwide. M. R. Beal & Co. is a registered broker-dealer with the NASD.
Forward Looking Statement
Note: Statements in this press release which are not strictly historical are "forward-looking" statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, which may cause the company's actual results in the future to differ materially from expected results. If the company goes forward with the private placement, it is likely that it would offer such securities in reliance upon an exemption from registration under the Securities Act of 1933 for an offer and sale of securities that does not involve a public offering. Such securities will not be registered under the Securities Act, and as a result, may not be offered or sold in the United States absent registration or an applicable exemption from registration. This news release does not constitute an offer to sell or the solicitation of an offer to buy any such security and should not constitute an offer, solicitation or sale in any jurisdiction in which it would be unlawful.
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