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Less Mess Storage-New Board Appointment; Retains the Howard Group for Strategic Investor Communications
|By Marketwired .
|May 21, 2014 02:20 PM EDT
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/21/14 -- Less Mess Storage Inc. (TSX VENTURE:LMS) ("Less Mess" or the "Company") is pleased to announce that Tracy Graf, President and CEO of Carfinco Financial Group (TSX:CFN), has joined the Company's Board of Directors.
In 1996, Mr. Graf co-founded Carfinco, a company offering vehicle financing programs through 2,400 dealerships in Canada and the United States. Mr. Graf is also a director of LoneStar West Inc. (TSX VENTURE:LSI) and Aurora Spine Corporation (TSX VENTURE:ASG), and invested in the recent Less Mess equity offering.
Guy Pinsent, President and CEO of Less Mess, commented:
"We are delighted to welcome Tracy Graf to the Board of Less Mess Storage. Tracy brings a wealth of experience and an excellent track record of success in public markets, business management and financing, which we feel will add substantial value to the Company as we expand our self-storage business in the largely untapped markets of central Europe."
The Company is also pleased to announce that it has retained The Howard Group Inc. ("HG") as its strategic investor communications advisor under an investor relations agreement (the "Agreement"). The Howard Group will direct both traditional and online initiatives targeting the investment and institutional communities and the investing public. HG also assisted Less Mess with marketing initiatives and relationships in conjunction with the Company's recent successful equity offering for gross proceeds of $7,000,000.
The Agreement has a term of one year with monthly remuneration payable to the Howard Group of $7,500. HG will also be granted 100,000 stock options with a three-year term, exercisable at $1.00 per share and vesting equally in four installments each three months after the date of grant. The Agreement together with the granting of the stock options is subject to the approval of the TSX Venture Exchange.
Since 1988, The Howard Group has provided comprehensive investor and capital market programs, business development solutions, strategic planning and financing services to publicly trading companies.
In addition to its ongoing services, The Howard Group will be providing commentary on Less Mess' activities in its "Insight" online blog.
Interested parties may subscribe at: http://howardgroupinsightnewsletter.blogspot.com/
About the Company
Less Mess Storage Inc. owns and operates the largest self-storage chain in Central and Eastern Europe, with a portfolio of five stores, two in Warsaw (both freehold) and three in Prague (two freehold, one leasehold), offering over 180,000 square feet of net lettable area. Total revenues in 2013 were over $4 million and average store occupancy was approximately 80%. The Company plans to add additional stores and rentable space in Warsaw and Prague in the future. The Company's registered and records office is located in Vancouver, British Columbia, its operations head office is located in Warsaw, Poland, and it also has offices in Prague, Czech Republic.
For further information, please refer to the Company's disclosure record on SEDAR (www.sedar.com).
Guy Pinsent, President and CEO
This press release contains "forward-looking information" that is based on the Company's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, the Company's business, plans, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect," "anticipate," "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: changes in economic conditions or financial markets; changes in prices for the Company's products and services; increases in costs; litigation; legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties; and labour relations matters.
This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Except as required by law, the Company disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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