SOURCE: Franchise Capital Corporation

October 05, 2007 14:21 ET

Franchise Capital Corporation Announces Continued Management Transition Following Close of Acquisition of Aero Exhaust

MURRIETA, CA--(Marketwire - October 5, 2007) - Franchise Capital Corporation (PINKSHEETS: FCCN), which has closed its acquisition of Aero Exhaust, Inc., a world leader in performance exhaust airflow technology and NASCAR Performance Partner, today announced the resignation of Steve Peacock as chief executive officer of Franchise Capital and the appointment of Bryan Hunsaker to the position of chief executive officer. Subsequent to Mr. Hunsaker's appointment, the Board accepted the resignation of Robert McCoy as a director.

Mr. Peacock was appointed to the position of chief executive officer of Franchise Capital on September 12, 2007, and his primary responsibility was to lead Franchise Capital's efforts to complete clean up efforts for the company, including bringing Franchise Capital current with its financial filings. He was also responsible for identifying an operating company for acquisition that would deliver long-term value for shareholders and completing the acquisition process.

The acquisition of Aero Exhaust by Franchise Capital was completed on October 4, 2007 with a share exchange between the two companies.

Upon accepting the position of CEO, Mr. Hunsaker stated, "Mr. Peacock's commitment to this acquisition and his desire to deliver value for the public company shareholders has been unwavering, and we would like to thank him for his tireless efforts to bring this transaction to completion. Mr. Peacock and Javelin Advisory Group will continue to be involved with the compliance, financial reporting and additional work related to operating the public company, and we look forward to their ongoing support."

Mr. McCoy, who served on the Board since September 27, 2005 and as chairman since September 12, 2006, was integral to the transition of Franchise Capital to become the appropriate public vehicle for Aero Exhaust.

"We would like to thank Robert McCoy for his service on the Board and laud his leadership through the transition of Franchise Capital from a restaurant franchise company, then to a shell, and finally through its acquisition of Aero Exhaust," stated Mr. Peacock. "The Board played an important role, and without Mr. McCoy's strong presence as chairman, there is little chance that this acquisition would have been completed."

The details of the management changes will be included in an upcoming Current Report on Form 8-K filed with the Securities and Exchange Commission. The Form 8-K is expected to be filed by October 11, 2007.

To sign up to receive information by email directly from Franchise Capital Corporation, including notices when the company issues future investor newsletters, please visit http://www.franchisecapitalcorp.net.

About Aero Exhaust:

Aero Exhaust is a world leader in performance exhaust airflow technology, manufacturing and distributing the most technologically advanced muffler on the market. Its product lines are built to the highest industry standards and offer the consumer a lifetime warranty. Aero Exhaust has been issued U.S. and Australian patents on its innovations and development in the exhaust industry, and its mufflers are available worldwide through major retailers, mass merchant centers, automotive aftermarket supply stores and wholesalers. Aero Exhaust mufflers are an exclusive National Association for Stock Car Auto Racing (NASCAR) Performance product and carry the prestigious NASCAR brand on product, packaging and related media. NASCAR legend Rusty Wallace is the official spokesperson for Aero Exhaust products. Additional information on Aero Exhaust's products, race team, and motorsports ventures can be found on its corporate website, www.aeroexhaust.com.

Safe Harbor Statement: The statements in this release that relate to future plans, expectations, events, performance and the like are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Actual results or events could differ materially from those described in the forward-looking statements due to a variety of factors, including the lack of funding, inability to complete required SEC filings, and others set forth in the Company's report on Form 10-K/A for fiscal year 2006 filed with the Securities and Exchange Commission.

Contact Information

  • CONTACT:
    Gemini Financial Communications, Inc.
    A. Beyer
    951-677-8073
    Email Contact