SOURCE: Franchise Capital Corporation

September 19, 2006 12:59 ET

Franchise Capital Corporation Announces New CEO and Chairman of the Board of Directors

SCOTTSDALE, AZ -- (MARKET WIRE) -- September 19, 2006 -- Franchise Capital Corporation (PINKSHEETS: FCCN) today announced the appointment of Steven R. Peacock as chief executive officer and Robert McCoy as chairman of the Board of Directors to fill the vacancy created by the resignation of former chairman/CEO Edward Heisler.

The appointment of Mr. Peacock was preceded by several changes in the company's Board of Directors. On September 6, 2006, the company accepted the resignations of Robert Madia and Donald Schwall from the Board of Directors. On September 12, 2006, the company accepted the resignation of Edward Heisler as chief executive officer, president, chief compliance officer, chief financial officer and chairman of the Board of Directors. The Board then appointed Steven R. Peacock as interim chief executive officer, interim president, interim chief compliance officer, and interim chief financial officer. Also, on this date, to fill the vacancy created by the resignation of Edward Heisler, Robert McCoy, who has served on the Board since September 2005, was appointed chairman of the Board of Directors.

Further details on these appointments are included in a Current Report on Form 8-K filed on September 18, 2006.

Steven R. Peacock has over thirty years of experience in seeking out and identifying emerging growth investment opportunities, both startup companies and work out assignments and is skilled at analyzing management structure and setting up programs for raising capital. He has working knowledge of taking companies through the process of becoming publicly traded, as well as assistance with strategic planning, corporate communications including shareholder relations and internet marketing as well as an extensive background in SEC requirements and filings utilizing broad network of legal, accounting, insurance, Internet technology and public relations affiliates.

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 2005 filed with the Securities and Exchange Commission.

Contact Information

  • CONTACT:
    Gemini Financial Communications
    A. Beyer
    951-587-8072