SOURCE: ASF Group, Inc.

December 11, 2009 16:00 ET

ASF Group, Inc. Announces Entry Into Letter of Intent With American Seniors Association Holding Group, Inc.

ORLANDO, FL--(Marketwire - December 11, 2009) - The Board of Directors of ASF Group, Inc. (PINKSHEETS: ASGP), (the "Corporation") announced today that the Corporation had entered into a letter of intent with American Seniors Association Holding Group, Inc., a Georgia corporation, wherein the Corporation would merge with American Seniors Association Holding Group, Inc. The merger as contemplated is subject to the approval of the shareholders of both companies. No additional details on the transaction are available at this time. The projected date of the closing of the pending merger, if approved, has not been determined.

About ASF Group, Inc.

ASF Group, Inc. is a holding company that owns, manages and provides consultation for its two wholly-owned subsidiaries, Kiosk Food Solutions, Inc. and Eddy Chan's Inc.

Kiosk Food Solutions, Inc. licenses portable food and beverage service kiosks under the brand name, "CAFFÉ PORTA VIA" for operation in office and other commercial and government buildings in metropolitan and suburban areas. Its initial licensing is in central Florida.

Eddy Chan's Inc. is a start-up restaurant chain of high quality Chinese take-out and delivery restaurants that will operate initially in the greater Orlando, Florida market, with the long-term intent of expanding across the U.S. as a network of company-owned and franchise restaurant operations.

About American Seniors Association Holding Group, Inc.

American Seniors Association Holding Group, Inc., is the parent company of the American Seniors Association, based in Atlanta, Georgia.

The American Seniors Association is a membership organization that offers discounted products and services to its members throughout the United States.

Safe Harbor Statement

Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate," "project," "intend," "forecast," "anticipate," "plan," "planning," "expect," "believe," "will likely," "should," "could," "would," "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- activities of competitors and the presence of new or additional competition and conditions of equity markets.

Contact Information

  • Contact information:

    ASF Group, Inc.
    Investor Relations
    407-875-0123