Bluetorch Inc. Changes Name to Pacific Crest Investments
April 20 2005 - 9:45AM
PR Newswire (US)
Bluetorch Inc. Changes Name to Pacific Crest Investments LOS
ANGELES, April 20 /PRNewswire-FirstCall/ -- Bluetorch Inc.
(OTC:BLTO) (BULLETIN BOARD: BLTO) announced today that its articles
of incorporation have been amended to change the Company name from
Bluetorch Inc. to Pacific Crest Investments. The Company stated
that it has applied for a new symbol to reflect the new corporate
name of Pacific Crest Investments. The Company intends to announce
the new symbol on Friday April 22, 2005 and begin trading under its
new name and symbol on Monday April 25, 2005. The Company
previously announced that it would be changing its name to fulfill
contractual obligations whereby it would give up the "Bluetorch"
name as part of its Mutual Settlement and Release Agreement with
its former licensor for Bluetorch apparel. Bruce MacGregor,
President and CEO, stated, "The name change reflects the final step
towards becoming a true investment company. As stated earlier, we
will be looking at all consumer products and services as viable
opportunities, so long as they meet our criteria of being
profitable and having positive cash flow. We have already
identified a few companies that are worth considering, although we
have not yet signed any letter-of-intent. Now that we are poised
towards this new direction, we have also initiated conversations
with various possible equity partners that potentially would work
with us on the acquisition front." About Pacific Crest Investments:
As an investment company that has elected to be treated as a
"business development company" (BDC) under the Investment Company
Act of 1940, Bluetorch Inc. is looking to invest in companies that
can demonstrate a history of positive cash flow and economic
fundamental values prior to the acquisition. These entities will
have the prospect for expansion from their existing profitable base
as a result of access to additional capital and/or additional
management acumen. As part of this strategic process, the Company
will look for acquisition opportunities in all consumer product
categories that have the potential for a positive return on
investment, both in terms of current income and capital
appreciation. Investor Contact Information: Marge Rohr at (909)
861-3244 or , and Geoffrey Eiten, OTC Financial Network, (781)
444-6100 x613 or . Safe Harbor: This release may contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. The risks and
uncertainties that may affect the operations, performance
development and results of the Company's business include but are
not limited to fluctuations in financial results, availability and
customer acceptance of our products and services, the impact of
competitive products, services and pricing, general market trends
and conditions, and other risks detailed in the Company's SEC
reports. DATASOURCE: Bluetorch Inc.; Pacific Crest Investments
CONTACT: Marge Rohr of Bluetorch Inc., +1-909-861-3244, ; or
Geoffrey Eiten of OTC Financial Network, +1-781-444-6100, ext. 613,
, for Bluetorch Inc.
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