SOURCE: Haz Holdings, Inc.

November 06, 2007 09:40 ET

HAZ Holdings, Inc. Releases November 2007 Issue of Investor Newsletter

FEDERAL WAY, WA--(Marketwire - November 6, 2007) - HAZ Holdings, Inc. (PINKSHEETS: HAZH), a real estate holding company that manages a portfolio of full-service hotels, has released the November 2007 issue of its monthly investor newsletter, which highlights the company's recent agreement with a boutique investment banking firm to provide acquisition financing of up to $100 million for expansion of HAZ Holdings hotel ownership portfolio.

A PDF version of the November 2007 newsletter has been posted to the "Investors" section of the HAZ Holdings website at http://investors.hazholdings.com/newsletters.php.

The November 2007 newsletter edition contains several additional articles reviewing the recent activities of the company, including the receipt of completed appraisals of its two hotel properties located in the United States, the appointment of a new director to the company's Board and the selection of a firm to conduct an appraisal of its hotel property in Edmonton, Alberta, Canada.

The appraisals are considered an integral aspect of the company's efforts to establish the current asset value of the company's hotel ownership portfolio and to complete past statements to bring the company current in its financial filings. Work to complete the company's past financial statements has been initiated, and Gruber & Company, LLC has been retained as the independent auditing firm to complete the audit of HAZ Holdings' financials, including annual reports for the last three fiscal years. With an accurate asset value and fully reporting status, HAZ Holdings believes that the company can be properly positioned in the public markets as it executes its growth strategy. This effort may include the pursuit of a listing in a market that would attract institutional investors.

"The November 2007 newsletter includes several important events related to the growth of HAZ Holdings, led by the recently announced acquisition financing agreement, which is expected to allow the company to acquire additional hotel properties," stated Dr. Karim Bhanji, CEO of HAZ Holdings, Inc. "We hope that shareholders will continue to find the newsletter to be a useful tool in tracking the progress of the company."

HAZ Holdings' five-year business plan is to increase its hotel ownership portfolio by acquiring hotel properties that range in size from 100-300 rooms per property. The company's primary focus for hotel acquisitions is in North America, but once it has met its North American goals, HAZ Holdings plans to develop and acquire hotel properties in Europe and Asia.

Shareholders and anyone interested in following the progress of the company are encouraged to subscribe to the company's mailing list located at http://investors.hazholdings.com/ealert.php, through which HAZ Holdings disseminates newly disclosed information, including press releases, notices of SEC filings, investor newsletters and other material, to subscribers directly by email.

About HAZ Holdings, Inc.

HAZ Holdings is a real estate holding company that owns and manages three mid-scale, full-service hotels in the United States and Canada, under the brand names "Hotel Monarchy & Suites" and "Monarchy Inn & Suites" (www.hazhotels.com). HAZ Holdings' five-year business plan is to increase its hotel ownership portfolio by acquiring hotel properties that range in size from 100-300 rooms per property, while concurrently franchising additional hotels under its brand names. The Company's portfolio also includes the following wholly owned subsidiaries: Mortgage and Financial Institute, LLC (www.mfibanking.com), a mortgage brokerage company specializing in commercial and residential lending in Washington and Alaska; Nationwide Hotel Management, LLC, a hotel management company; KB Realty Group International LLC, a commercial and residential real estate sales company; Evergreen Sound Construction, LLC, a commercial and residential development company; and DoTravelDeals (www.dotraveldeals.com), a global travel booking engine.

This press release may contain "forward-looking statements." Although we believe that the expectations reflected in any forward-looking statements are reasonable, HAZ Holdings cannot guarantee future results, levels of activity, performance or achievements. Actual results may differ materially from the predictions discussed in these forward-looking statements. Changes in the circumstances upon which HAZ Holdings bases its predictions and/or forward-looking statements could materially affect its actual results.

Contact Information

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