Sitestar Announces the Appointment of a New Board Member
November 06 2013 - 10:46AM
Marketwired
Sitestar Announces the Appointment of a New Board Member
LYNCHBURG, VA--(Marketwired - Nov 6, 2013) - Sitestar
Corporation (OTCBB: SYTE), a company that invests in real estate
and operates various technology related businesses, announced the
accepted resignation of a board member and the appointment of a new
director.
As of October 21, 2013, Sitestar's Board of Directors accepted
the resignation of Julia Erhartic as a member of the board and
secretary of the company.
The board nominated and ratified Jeffrey Moore to serve as
director of the Company effective immediately.
"Mr. Moore represents over seven percent of the company's stock
and and is the largest shareholder outside of management," said Mr.
Erhartic. "Additionally, Jeff has knowledge and experience in real
estate and other investments. He will assist the company in the
investigation and implementation of various strategies to increase
the intrinsic value of Sitestar. We welcome him to the
board."
Jeffrey Moore is a landlord and value investor focused on real
estate and common stocks. He is a founder and Presiding Partner M
& M Investments, a family investment partnership that invests
in value micro-cap securities. Previously, Mr. Moore served
multiple terms on the board of a 209 unit homeowner's association
which was responsible for all exterior maintenance of the townhomes
in the neighborhood. He presently serves on the board and as the
secretary of a neighborhood association in Lexington, KY. Mr. Moore
has earned a B.A. of General Studies at Eastern Kentucky
University.
Mr. Moore noted, "After several trips to Roanoke to look at the
company's real estate holdings with Frank and Dan, I am excited to
be working with and serving on Sitestar's Board." Furthermore, the
company will be updating its Investor Relations page and encourages
shareholders to communicate with the company via the
investorrelations@sitestar.com email address.
Safe Harbor for Forward-Looking Statements This press release
contains forward-looking statements that are based on management's
expectations, estimates, projections and assumptions. The
Company assumes no obligation except as required by law to update
the forward-looking statements contained in this press release as a
result of new information or future events or
developments. These forward-looking statements generally can
be identified by words such as "believes," "expects," "projects,"
"anticipates," "foresees," "forecasts," "estimates," "should" or
other words or phrases of similar import. Forward-looking
statements are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995, as
amended. These statements are not guarantees of future
performance and involve certain risks and uncertainties, which are
difficult to predict. Therefore, actual future results and
trends may differ materially from what is forecast in
forward-looking statements due to a variety of factors, including
and without limitation, as found in the Company's reports filed
with the Securities and Exchange Commission.
About Sitestar Sitestar invests in real estate and is an
Internet Service Provider (ISP). The real estate division invests
in, refurbishes, and markets real estate for resale and rental.
Sitestar offers consumer and business-grade Internet access,
wholesale managed modem services for downstream ISPs and Web
hosting. The company provides services to customers throughout the
U.S. and Canada.
Contact: Frank R. Erhartic, Jr. 434-239-4272 Email Contact
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