TEAM Nation Signs Agreement to Acquire CalCounties Title Nation Company
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IRVINE, CA, Jun 10 (MARKET WIRE) --
TEAM Nation Holdings Corporation ("TEAM Nation") (OTCBB: TEMN) is pleased
to announce that it has executed an Agreement to acquire 100% of the
outstanding stock of CalCounties Title Nation Company ("CalCounties"), a
licensed California title agent.
Since TEAM Nation began managing CalCounties in 2007, revenues and market
share of the title company have increased substantially, up 98.8% in 2008.
In 2009, CalCounties has increased revenues month over month, doubling
monthly revenue from January to May, 2009. Revenues are expected to exceed
$15 million by the close of 2009.
"The addition of CalCounties brings both revenue and growth momentum to
TEAM and its shareholders," said Janis Okerlund, president of TEAM. "The
board is very excited to add to its portfolio, a company that has
increased its revenue, profit, and market share despite turmoil in the
real estate sector."
Daniel J. Duffy, President of CalCounties, concurred, "The alliance of
TEAM and CalCounties is beneficial for both companies and gives
CalCounties access to capital markets, furthering its growth
opportunities, and expansion capabilities. CalCounties is confident that
TEAM and its management will serve it well and enable growth that would
be more challenging without TEAM's involvement."
TEAM Nation will continue to seek similarly attractive acquisition targets
in the real estate title and escrow related industry.
About CalCounties Title Nation Company:
CalCounties is a one-stop shop for diverse and cutting-edge title
services. Building on its rich tradition of excellence, conservative,
common sense underwriting, and dedication to personal service, Cal
Counties has recently expanded our services to include national
coordination and settlement services, default services and property
information services so that you experience consistency, efficiency and
convenience during your closing, regardless of the location of the
realty. For more information, please visit: http://www.calcounties.com.
About TEAM Nation Holdings Corporation:
TEAM Nation Holdings Corporation, a Nevada corporation ("TEAM-NV"), is a
management and services company specializing in title insurance and escrow
services through our affiliate title agency(ies), and the provision of
management, production services, HR administration, IT support, and
accounting administration for title insurance companies and related real
estate ventures. Team Nation Holdings, a Nevada Corporation ("TEAM-NV"),
is a holding Corporation for Team Nation Holding, a California
corporation, a production and services company ("TEAM-CA") along with
Escrow Nation, Inc., a California Corporation and Mortgage Nation, Inc.,
a California Corporation.
This news release contains forward-looking statements. The company
undertakes no obligation to publicly update or revise any forward-looking
statements, whether because of new information, future events or
otherwise. Forward-looking statements are inherently subject to risks and
uncertainties, some of which cannot be predicted, or quantified. Future
events and actual results could differ materially from those set forth in,
contemplated by, or underlying the forward-looking statements. The risks
and uncertainties to which forward-looking statements are subject include,
but are not limited to, the effect of government regulation, competition
and other material risks described in the company's filings with the SEC.
Contact:
Taylor Capitol, Inc.
Investor Relations
Stephen Taylor
973-351-3868
Email Contact
Copyright 2009, Market Wire, All rights reserved.
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