SOURCE: Concorde Resources Corp.

March 03, 2006 13:17 ET

Concorde Resources Corp. Signs Letter of Intent to Acquire Mclayne Industries, Inc.

PORT ST. LUCIE, FL -- (MARKET WIRE) -- March 3, 2006 --Concorde Resources Corp. (OTC: CCDE) announced today that it has entered into a Letter of Intent (the "Letter of Intent") dated February 27th, 2006 with Mclayne Industries Inc for the acquisition of 100% of the issued and outstanding shares of Mclayne in a stock and cash combination.

Mclayne Industries, dba Great Ink, based in Vancouver, Washington, has been primarily a commercial ink and print services vendor, serving small and medium sized businesses in the Pacific Northwest. Through a recent combination of assets and investors Mclayne will soon be offering a select range of voice, data, and long-distance communications.

"This is a very strong revenue generating acquisition for Concorde, in that it provides a diversion from our Weight loss business. Great Ink has a track record of private success and growing customer base. We expect to realize a quick return on our investment," said Kenneth Macdonald, Director of CCDE.

Concorde is in further negotiations to acquire majority and minority ownership of several similar and highly complementary franchise lines, each to mutually enhance marketing and sales of its counterparts.

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the company. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by CCDE may differ materially from these statements due to a number of factors. CCDE assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making investment decisions.

Contact Information

  • For Investor Relations:
    Blue-Sky Solutions, LLC
    Stephanie Soleas
    (877)4-BLUE-IR
    ccde@blueskyir.com