Snap N' Sold Receives Ongoing Financing Commitment From U.S. Investment Fund
PALM HARBOR, Fla.--Oct. 3, 2005--Snap N' Sold Corp. (Pink Sheets:SNPD) today announced that it has signed a financing agreement with U.S.-based investment fund, The Nutmeg Group LLC, http://www.tngroupllc.com, that provides for funding based on restricted shares that will enable Snap N' Sold to attain its financial goals and fulfill its expansion plans.Randall S. Goulding, Managing Director of The Nutmeg Group, LLC, stated, "We believe that the Company's current valuation is not at all reflective of its compelling prospects both in the near and long-term. Snap N' Sold's talented management, resources and its potential for exponential expansion has prompted both our initial investment and ongoing financial and strategic commitment. The initial cash infusion will focus on the creation of new business opportunities and joint ventures." He continued, "We are anxious to assist Snap N' Sold in meeting its ongoing financing needs, facilitating strategic relationships, and we look forward to a long-term mutually profitable relationship with the Company."
The Nutmeg Group, LLC and its principals have been successful in raising capital through private placements and stock loans. With more than 30 million dollars under management, the Nutmeg Group, L.L.C. is a value-added private capital investment firm and a full service investment and financial consulting organization dedicated to helping growth companies emerge as industry leaders. Staffed with an impressive array of diverse talents and a robust infrastructure, Nutmeg stands committed to facilitating Snap N' Sold's success as it is for all of its portfolio companies. Josh Singer of CCM&A, one of Nutmeg's advertising and marketing affiliates, will help develop new marketing arrangements for Snap N' Sold while enhancing the Snap N' Sold brand to assure that the Company's image will reflect and be commensurate with its outstanding prospects.
Snap N' Sold Chairman, James G. Grady, commented, "Since the beginning of our journey we have been unwavering in both our resolve and commitment to creating value. With respect to financing our growth, that meant adhering to the mandate that Snap N' Sold would ONLY raise investment capital, as needed, in order to maximize the ongoing value of the enterprise while doing so through structures that would be non-toxic and protect the interests of existing shareholders. We have effectively accomplished that goal today and are thrilled to have the Nutmeg Group as major financial and strategic backers of Snap N' Sold going forward."
About Snap N' Sold Corp.
Snap N' Sold Corp., http://www.snapnsold.com, is engaged in the eBay drop store industry with competitors Dallas based Orbit Drop, Inc. (Pink Sheets:OBDP) and Auction Mills Incorporated (Pink Sheets:AUML) as well as other auction facilitators like the EZ2Companies.com (OTCBB:EZTO). Snap N' Sold is managing its growth through the acquisition of community-centered retail "thrift stores" that will continue operating in that business while also acting as local eBay drop store "consignment centers" and corporate and estate asset disposition offices.
Snap N' Sold's HotAutoWeb subsidiary, http://www.hotautoweb.com, is engaged in the business of direct-to-consumer sales and auctions of highly-coveted classic race cars and hot rods. While HotAutoWeb currently sells other forms of conveyance, such as airplanes, motorcycles, boats and RV's, the company will be building vehicle-specific web sites to facilitate listings and sales in the same manner as HotAutoWeb. The company is also instituting a National Regional Representative Program to drive local service representation and national listing and sales growth.
Safe Harbor
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 Raptor Investments, Inc., 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. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. 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.