SEATTLE, June 24, 2009 (GLOBE NEWSWIRE) -- SARS Corporation ("SARS" or the "Company") (Pink Sheets:SARO) announced that it has engaged the financial services of Mosaic Capital, LLC ("Mosaic") to formulate its financial strategy and assist the Company in a $12,000,000 to $17,000,000 raise of capital (the "Financing"), contemplated financing will consist of senior and mezzanine loan, as well as act on SARS' behalf as its financial advisor with respect to the Financing. The Financing is being sought in connection with the Company's execution of a Merger Agreement with Alternatech, Inc., Swank Enterprises, Inc. d/b/a Art and Print, Inc., Associated Mechanical, Inc. and R.J. Power, Plumbing & Heating Company (originally announced by SARS on June 3, 2009) as well as the acquisition of certain assets of T.A. Brinkoetter & Sons, Inc. (originally announced by SARS on June 10, 2009).
Geoff Meagher, interim Chief Executive Officer of SARS, states, "We are extremely pleased to work with Mosaic in connection with the immediate financing and to develop a strategy in furtherance of our overall financial objectives. We believe this partnership will prove highly beneficial in achieving both the short and long-term success of the Company."
Garry Michael Kann, Managing Director of the Capital Markets Group for Mosaic adds, "We are confident our services are a perfect fit for SARS, and will position the Company to take additional and vital steps toward financial success."
SARS Corporation ("SARS"):
SARS is an asset management and control systems contracting and services company, providing design and sales, installation services, and monitoring software to building owners and operators. The Company provides the highest quality products, timely installation and service, and industry-leading web accessibility, allowing customers to see and act on vital systems information from more places than most other systems can access. This high level of visibility means problems can be resolved faster while maintaining occupant comfort and minimizing deviations from energy saving strategies.
The SARS Corp. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5966
Mosaic Capital, LLC ("Mosaic"):
Mosaic serves owners and advisors of mid-sized companies with sale and divestiture, valuation, and merger and acquisitions advisory services. Through the subsidiary Mosaic Capital Securities, LLC (Member FINRA http://www.finra.org/index.htm, SIPC http://www.sipc.org), Mosaic offers the private placement of debt and equity securities. They produce exceptional results by providing senior executive attention in managing and executing all aspects of your engagement. With 98 offices in 24 countries through partners in International Network of Merger & Acquisition Partners (IMAP), Mosaic delivers worldwide access to strategic buyers, merger candidates and financial resources.
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Safe Harbor Statement
The contents of this Press Release may contain forward-looking statements which can be generally identified as such because the context of the statement will include the words such as SARS "expects," "should," "believes," "anticipates" or words of similar import. Such forward-looking statements are subject to certain risks and uncertainties including the financial performance of SARS which could cause actual results, performance or achievements of SARS to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements.
This Press Release does not constitute or form any part of any offer or invitation to sell or issue or any solicitation of any offer to purchase or subscribe for any securities in any jurisdiction, nor shall it (or any part of it) or the fact of its distribution form the basis of, or be relied upon in connection with, or act as any inducement to enter into, any contract or commitment therefore.
"Forward-looking statements," as defined in the Private Securities Litigation Reform Act of 1995, may be included in this press release. These statements relate to future events and/or our future financial performance. These statements are only predictions and may differ materially from actual future events or results. SARS disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. Please refer to the documents filed by SARS with the Securities and Exchange Commission, which identify important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to, risks associated with our ability to: (i) increase revenues, (ii) obtain profitability, (iii) obtain additional financing, (iv) react to actions of our competitors, (v) develop new services and markets for our services, remain in compliance with regulatory rules and regulations and to integrate such services with the products and services of our co-joint ventures and (vi) foresee and make necessary changes to our business strategies.