SOURCE: Principal Capital Group

December 01, 2008 09:06 ET

Principal Capital Group, Inc. Signs All-Star Ice, Inc. as New Structuring Client

BEVERLY HILLS, CA--(Marketwire - December 1, 2008) - Principal Capital Group, Inc. (OTCBB: PCGI) signs All-Star Ice, Inc. as a new structuring client.

Management of Principal Capital Group, Inc. announced today the addition of All-Star Ice, Inc. to its growing list of emerging market companies requiring next stage capital. Under the terms of the agreement, Principal Capital Group, Inc. will be responsible for structuring preliminary funding documents in relation to the initial capital raise of $4,250,000.00. They are also responsible for investor introductions, the creation of the capitalization table and a roll out strategy for All-Star Ice, Inc. going forward. Principal Capital Group has initially prepared a tombstone in connection with the structuring agreement which it intends to circulate the first week of December 2008 to its existing shareholders.

George Melika, MBA, Principal Capital Group Investment Banker, stated, "All-Star Ice's business expands on one of the most profitable business models in the retail sector and although it is revenue producing, it is expected to reach profitability in 2009. We intend to circulate this excellent opportunity among our growing shareholder base, giving them first choice at investing in All-Star Ice, then we will open it to outside investors should the need arise. We believe that All-Star Ice is a very attractive investment opportunity with an above average return on capital invested."

Interested parties that wish to know more about All-Star Ice, Inc. and its offerings, please contact Mr. Melika at 800-881-3321 ext 94.

Principal Capital Group, Inc., is a holding company that holds a portfolio of assets of sector-specific Business Development Company ("BDC") 40 Act funds. A BDC is a public company which elects to become subject to sections 55 through 65 of the Investment Company Act of 1940. BDCs may raise money by investing in new ventures and by issuing shares of stock which become freely-tradable and legend-free simply upon notice to the United States Securities and Exchange Commission ("SEC").

PCGI has the following web site: http://www.principalcapitalgroup.com. Interested parties may get up-to-date corporate information and shareholder information at this site.

Forward-Looking Statement to follow:

Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those discussed in filings made by the Company with the Securities and Exchange Commission.

Contact Information

  • CONTACT:
    Principal Capital Group, Inc.
    Sean Morrissey
    Counsel, Banking Division
    800.881.3321
    Email Contact