Sandy Steele Unlimited, Inc. Announces Acquisition
August 13 2009 - 9:15AM
Marketwired
Sandy Steele, CEO and Chairman of Sandy Steele Unlimited, Inc.
(PINKSHEETS: SSTU), announced today the acquisition of "The Bel-Air
Group" by SSTU. The Bel-Air Group is a 10-year-old investment
advisory firm, founded in Los Angeles, California, which assists
emerging private companies in obtaining capital and expertise for
eventually becoming a listed publicly traded company. Terms of the
transaction were not disclosed.
"I'm pleased to announce this acquisition because it's always
been a dream of mine to help smaller private companies get access
to the financial markets to help them grow and prosper. With the
enormous reduction of independent firms on Wall Street resulting
from the recent financial disasters, access to capital is even
harder now than ever before. SSTU will be looking to partner or
joint venture with compelling Media, Publishing and Health &
Beauty opportunities that are presented in the future. Also, I'm
proud to announce that my husband Richard Steele, a long time
successful businessman, will become the new CEO and join the Board
of Directors of SSTU. I'll continue as the Chairman of the
Board."
Chairman Steele also announced that the Company has also
extended the original stock buyback purchase plan until December
2010. Currently, approximately 57,000 shares have been repurchased
thus far at various prices ranging from $0.007 up to $.025. The
Company may purchase up to an additional 3.5 million shares from
time to time in open market transactions. Additionally, management
may make personal acquisitions in the open market or through
privately negotiated transactions, subject to availability of
shares. SSTU currently has approximately 19 million shares
outstanding with approximated 7 million in the public float. The
Company has no outstanding bonds, preferred or convertible
preferred stock, or debt of any kind.
The Company will provide additional details in the coming months
on the financial division. For interested companies looking for
financial assistance, please go to www.steeleunlimited.com and fill
out the form located on the "Finance" page.
Sandy Steele Unlimited (SSTU-news) is an emerging conglomerate
based in Beverly Hills, California that has interests in the
health, beauty, publishing, and media industries. (See
www.sandybeverlyhills.com)
This press release includes forward-looking statements made
under the "Safe Harbor" provisions of the Private Securities
Litigation Reform Act of 1995. These statements involve risks and
uncertainties that could cause actual results to differ materially
from those in the forward-looking statements, including but not
limited to the following: product development difficulties; market
demand and acceptance of its products; ability to obtain financing;
the impact of changing economic conditions; reliance on third
parties, including potential suppliers; the impact of competitors;
other factors not detailed in this press release. The company
currently does not report its quarterly financials to the
Securities and Exchange Commission.
Contact information: www.steeleunlimited.com
steeleunlimted@aol.com belairgroup@aol.com Richard Steele
310-382-4798
Sandy Steele Unlimited (CE) (USOTC:SSTU)
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