Swan Group of Companies Inc.
Swan Group of Companies Inc.: SWAN Group Sells Arena Hotel Steinmattli in Switzerland
Swan Group of Companies Inc. / Strategic Company Decision Announcement, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Deerfield Beach, (USA) / Frankfurt am Main (Germany), January 19th, 2009 – SWAN Group of Companies, Inc. (OTC: SWNG) announces the sale of its Arena Hotel Steinmattli to a Swiss Holding company. The price consists of three components: the transfer of the land charge of Brogli Real Estates plus extra expenses with a value of CHF 2,350,000 and the cancellation of a loan agreement of CHF 3,425,000 totalling CHF 5,775,000. In addition SWAN Group received cash funds of CHF 416,370.34. Subsequent to the sale of the Hotel, Daniel Lareida, Michael L. Berresheim and Beate C. Müller resigned their posts, replaced by René Brogli. The sale of the hotel was the result of SWAN’s Board directing the company to concentrate future business activities on the development of promising projects and the preparation of exit strategies for its subsidiary companies. The business model of SWAN is to provide venture capital for promising new businesses. At present, SWAN Group is preparing to spin off its holdings of James Denverson Corp. developer of a smoke-free cigarette, through a public offering during the second quarter 2009. James Denverson Corp. recently optimized construction of the smoke-free cigarette with a simplified production process as well as expanding into additional sales markets. Swan Group’s financials for the complete year 2008 are now being prepared with the final audit being completed shortly. About SWAN Group of Companies, Inc. This diversified holding company, located at Deerfield Beach, FL, USA, and Frankfurt am Main, Germany is a Venture Capital Organization investing in various projects. Most recently SWAN has invested in the James Denverson Smokeless Cigarette Company. Other products in development stages include internet sites for a Fine Wines Club, Perfume and Cosmetic Products, Travel and Hotel, Entertainment and Concert Ticket Sites. Contact: CEO Michael Berresheim Phone: +49-69-489-8760 Mobile: +49-172-619-5036 Fax: +49-69-489-876-95 Email: info@swangroup.us Head Office: SWAN Group of Companies 530 South Federal Highway - Suite 150 Deerfield Beach, Fl 33441, USA European Representative Office: SWAN Group of Companies, Inc. Hanauer Landstraße 187-189 60314 Frankfurt am Main, Germany Safe Harbor Statement Investors and readers are cautioned that certain statements contained in this document, as well as some statements in periodic press releases and some oral statements of our officers and directors during presentations about our company, along with Swan Group of Companies filings with the Securities and Exchange Commission, including the Company's registration statements, quarterly reports on Form 10-Q and annual report on Form 10-KSB, are 'forward-looking' statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the 'Act'). Forward-looking statements include statements that are predictive in nature, which depend upon or refer to future events or conditions, which include words such as 'expects', 'anticipates', 'intends', 'plans', 'could', 'might', 'believes', 'seeks', 'estimates' or similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future actions, which may be provided by the Company's management, are also forward-looking statements as defined by the Act. Forward-looking statements are based on current expectations and projections about future events and are subject to various risks, uncertainties and assumptions about Swan Group of Companies, Inc, its technology, economic and market factors and the industries in which the Company does business, among other things. These statements are not guarantees of future performance and Swan Group of Companies, Inc. undertakes no specific obligation or intention to update these statements after the date of this release. 19.01.2009 Financial News transmitted by DGAP ----------------------------------------------------------------------
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