SOURCE: Spring Creek Capital Corporation

November 24, 2009 13:30 ET

Spring Creek Capital Corp. Engages New Castle Financial Services, LLC as Financial Advisor for Stem Holdings, Inc.

NEW YORK, NY--(Marketwire - November 24, 2009) - Spring Creek Capital Corp. (OTCBB: SCRK) announced today that it has entered into an agreement with New Castle Financial Services, LLC as Financial Advisor for Stem Holdings, Inc., its portfolio investment company.

On November 20, 2009, Stem Holdings, Inc., a portfolio investment of Spring Creek Capital Corp., retained New Castle Financial Services, LLC ("New Castle") on an exclusive basis to provide general financial advisory and investment banking services to Stem Holdings. Either New Castle or Stem Holdings may terminate that agreement on fifteen (15) days prior written notice to the other party after July 31, 2010.

About Stem Holdings, Inc.

Stem Holdings, Inc. d/b/a AllStem, Inc., a portfolio investment of Spring Creek Capital Corp., is a Nevada Corporation with offices in Florida. AllStem's business plan is to provide cellular based life saving or life enhancing options to all individuals seeking assurances that they will be able to take advantage of current and future medical advancements in the field of stem cell sciences.

About Spring Creek Capital Corp.

Spring Creek Capital Corp. is a closed-end investment company that has elected to be treated as a business development company (BDC) under the Investment Company Act of 1940. Spring Creek intends to invest principally in equity securities, including convertible preferred securities and debt securities of private U.S. based micro-cap companies. Spring Creek plans to provide its portfolio companies with management expertise as well as capital. Its investment objective is to maximize the portfolio's capital appreciation while generating current income from the portfolio investments.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21 E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that these forward-looking statements involve uncertainties and risk that cold cause actual performance and results of operations to differ materially from those anticipated. These risks and uncertainties include issues related to the ability to: obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new ventures, as well as other factors set forth in Spring Creek Capital's most recently filed Form 10-K and Form 10-Q reports. The forward looking statements contained herein represent the Company's judgment as of the date of this release and it cautions readers not to place undue reliance on such statements. Spring Creek Capital assumes no obligation to update the statements contained in this release except as required by applicable securities disclosure rules.

Contact Information

  • Contact information:
    Kelly T. Hickel
    Chairman, Spring Creek
    Telephone: 646.896.3050