Contact Information: Contacts: Michael Barron Las Vegas, Nevada Shearson Financial Network, Inc. 702-868-7922
Shearson Financial Network, Inc. Acquires Centrepoint Realty Group
| Source: Shearson Home Loans
LAS VEGAS, NV--(Marketwire - November 6, 2007) - Shearson Financial Network (OTCBB : SHSN ), a
consolidator in the highly fragmented mortgage brokerage marketplace,
announced today that it reached an agreement to acquire all of the assets
and operational businesses of Centrepoint Realty of Irvine, California.
Under the agreement, Shearson Financial Network will issue to Centrepoint's
shareholders stock valued at two hundred thousand dollars. Centrepoint is a
residential real estate brokerage and is a licensed broker in California,
Utah and Florida. It employs ten agents in California and Utah.
"This is an important step in a business combination that both parties hope
will have substantial benefits," stated Michael Barron, CEO and Chairman of
Shearson Financial Network. "As we expand our operations into the loan
resolution business, Centrepoint will provide valuable resources to our REO
department providing listing and sales talent for our real estate assets."
About Shearson Financial Network
The company is a consolidator of independent mortgage brokerages and loan
resolution pools of mortgages. Shearson operates 17,538 sq. ft. of branch
office space licensed in 40 states. The company currently is seeking new
branches for its growing network. For more information, please visit the
company's website at www.sfnncorp.com or www.shearsonhomeloans.com
SEC Filings and Forward-Looking Statements
Statements in this press release other than statements of historical fact,
including statements regarding the company's plans, beliefs, and estimates
as to projected results and market size are "forward-looking statements."
Such statements are subject to certain risks and uncertainties, including
factors listed from time to time in the company's SEC filings, and actual
results could differ materially. These forward-looking statements represent
the company's judgment as of the date of this release. The company
disclaims, however, any intent of obligation to update these
forward-looking statements.