Charis Industries Co. (dba Red Mountain Pharmaceuticals Inc.) Announces the Acquisition of LendServ LLC
November 08 2007 - 11:33AM
Marketwired
DALLAS, TX (RMPI) (PINKSHEETS: RMPI) has acquired LendServ LLC.
LendServ is a title and escrow company headquartered in Pittsburgh,
PA. Terms of the acquisition were not disclosed.
Duane Roberts, Chairman and CEO of Charis Industries Co. (RMPI),
remarked, "LendServ is a title and escrow company that is licensed
in over 36 states. Acquiring this company along with a very
talented management team is a key component for growth, both
organically and strategically. LendServ's industry is fragmented
and is poised for consolidation. We want to be a leader in
consolidating companies associated with the mortgage industry and
feel that this contrarian approach will build significant
shareholder value for Charis when the pendulum swings."
Paul Donaldson, CEO of LendServ, stated, "We are excited about
becoming a part of Charis Industries Co. and their strategy and
future prospects. LendServ's core product lines are: credit, title,
appraisal and escrow services. Our expertise in these areas gives
us an advantage and we think joining Charis will amplify our future
and our growth."
Mr. Donaldson, Co-Founder and CEO of LendServ LLC, will join the
Board of Directors of RMPI (Charis) and will continue to manage
business development objectives and overall company strategies. Mr.
Michael Giancola, Co-Founder and COO, will continue to manage the
day-to-day operations of LendServ. LendServ will become a wholly
owned subsidiary of Charis Industries Co.
LendServ is the premier provider of credit, appraisal, flood
certification, title and escrow settlement services to lenders in
the residential and commercial lending industry. The company prides
itself on quality products and on providing an exceptional level of
customer service to clients. With a high level of industry
expertise and technological resources, the firm offers streamlined
solutions and views the loan fulfillment process from the
customer's perspective. The company's web site is
www.lendserv.com.
Charis Industries Co. is a diversified holding company that has
reversed merged into Red Mountain Pharmaceuticals Inc. Red
Mountain's name and stock symbol will be changed to Charis
Industries Co. Charis seeks to purchase, for long-term investments,
companies that are leaders in their specific markets of
service-oriented industries. Primarily focusing on the current out
of favor mortgage industry, the Company will employ a buy, build
and cost elimination strategy with its investments. The Company
looks for investments, which it can grow through vertical
acquisitions, roll-up acquisitions, turnaround acquisitions, and
acquisitions in which the management team believes there are
synergies for cost elimination and/or cross marketing potential.
For more information on Charis Industries, please visit the
Company's website at www.charisindustries.com.
This press release contains statements, which may constitute
"forward-looking statements" within the meaning of the Securities
Act of 1933 and the Securities Exchange Act of 1934, as amended by
the Private Securities Litigation Reform Act of 1995. Those
statements include statements regarding the intent, belief or
current expectations of Charis Industries Co., and members of its
management as well as the assumptions on which such statements are
based. Prospective investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, and that actual results may
differ materially from those contemplated by such forward-looking
statements. The Company undertakes no obligation to update or
revise forward-looking statements to reflect changed assumptions,
the occurrence of unanticipated events or changes to future
operating results.
For more information contact: Charis Industries Co. Duane
Roberts Chairman and CEO 214-987-0844 Investor Relations: The
Eversull Group Jack Eversull 972-378-7917 972-378-7981 (fax) Email
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