SOURCE: BIH Corporation

June 23, 2008 13:16 ET

BIH Corporation Board of Directors Holds a Strategy Meeting Over the Weekend and Determines a Course of Action

WEST ORANGE, NJ--(Marketwire - June 23, 2008) - BIH Corporation (PINKSHEETS: BIHC) announced today that its Board of Directors including Mr. Cris Galo, President, held a strategy meeting this weekend regarding a previously announced offer regarding BIHC stock.

BIH Corporations Board has determined that the best course of action was to have its corporate counsel engage in dialog with the private investor/groups offer through their counsel to determine exactly what they are attempting to achieve. The objective has been identified; the unsolicited offer by the private investor/group is an interest in BIH Corporation's subsidiary Baron International, and the investors have indicated that they would like to play a role through either a large investment position or even a complete buyout.

"Regardless of whatever direction the company elects, all decisions will consider the best interest of The Company and its Shareholders as this will be paramount to any deal; negotiations are ongoing at a rapid pace and the company will update all pertinent information as it develops," said Frank Nordstrom, company spokesman.

This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.

Contact Information

  • Contact:
    BIH Corporation
    Investor Relations
    Tel: 1-866-532-5908
    Fax: 1-239-437-5777