StockRegent Features NNCO.018
Nannaco Inc. NNCO (OTC:BB) .018 14,957,600 shares outstanding Nannaco began talks with two banking entities to secure more than 30 million for expansion, acquisitions and working capital.
(PRWEB) October 1, 2003
NANNACO, Inc., headquartered in San Antonio, Texas, is a holding company, which currently trades on the Over the Counter Bulletin Board, and is presently extending its holdings in various diverse sectors of the economy through mergers, acquisitions, and joint ventures. "Our ultimate goal is to take advantage of our position as a publicly traded company and build a consortium comprised of like-minded businesses in diverse markets," said DeVries. "We're confident that our relationship with IHL will prove to be mutually beneficial for both companies."
IHL has developed and continues to improve and expand an innovative means of recurring materials purchasing within the healthcare industry that naturally extends into a variety of opportunities in both healthcare supplies and services. "This is akin to inserting the efficiencies found in other industries, but not in healthcare, into what is currently one of the most costly and difficult operations for healthcare providers," said DeVries. "We see no end to the possibilities that a joint venture of this type can realize."
Joe W. Smith, IHL President, says that, "the acquisitions contemplated will propel IHL to the forefront of those emerging, cutting edge companies that are just beginning to provide a new direction for solving heretofore unsolvable inefficiencies in the healthcare supply chain."
Nannaco began talks with two banking entities, one domestic and one in Europe, with the goal of securing a major funding instrument that would create more than 30 million for expansion, acquisitions and working capital.
The talks are intended to determine the company's ability and willingness to meet the expansion requirements necessary to best use the lenders' resources and to negotiate a fair and reasonable interest rate over the 10-year, fully-secured term.
"This is the perfect situation for our organization," says Andrew DeVries III, president and CEO of Nannaco. "We intend to fund the acquisition and development of several key opportunities that have awaited our readiness, and the readiness of the investment community as a whole. The time is right for expansion and diversification of Nannaco Inc. holdings."
"Our ultimate goal is to take advantage of our position as a publicly traded company and build a consortium comprised of like-minded businesses in diverse markets," DeVries says.
14,957,600 shares outstanding
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