LIG Assets, Inc. Announces Plans to Issue More Stock Dividends; Selects New Transfer Agent to Distribute SuiteMagic Shares
DALLAS, May 4, 2012 /PRNewswire/ -- LIG Assets, Inc. (LIGA.PK) announces plans to issue at least two more stock dividends, and that it has selected a transfer agent to distribute the recently announced stock dividend of SuiteMagic shares. Globex Transfer, LLC (www.globextransfer.com) of Deltona, FL is registered as a Stock Transfer Agent with the Securities and Exchange Commission and is a member of The Securities Transfer Association which is available only to stock transfer agents. SuiteMagic is expected to go public through an S-1 filing later this year.
Although the primary focus of LIG Assets is in real estate transactions and income producing properties, the Company has a variety of other business interests evidenced by its recent stock dividend paid in SuiteMagic. LIG Assets has identified at least two other divisions it would prefer to spin off, operate separately, and issue stock as dividends to its shareholders in LIGA over the next 12 to 18 months.
LIG Assets always plans to retain a large percentage ownership of the separate operating companies. In the case of SuiteMagic, LIG Assets will retain about 45% ownership of SuiteMagic even after the stock dividend is distributed.
Jeff Love, CEO of LIG Assets stated, "Our business plans are centered on building our asset base and balance sheet. We are involved in a variety of businesses, and some deserve to operate independent of the core for a variety of reasons." He continued, "It makes sense to spin these off as separate trading entities not only to benefit our shareholders, but provide to provide each entity more focus and autonomy."
Mr. Love concluded, "In addition to more stock dividends, there is a legitimate plan to issue cash dividends upon conclusion of certain transactions. We do not plan to issue regular cash dividends, but we do expect to make distributions from time to time in the future."
About LIG Assets, Inc.
LIG Assets, Inc., based in Dallas, TX, is a multi-faceted worldwide investment company that focuses on real estate, technology, commodities, and the oil and gas sectors of the economy. We are a proactive company that is committed to providing opportunities in all structures of the economy and are always welcoming new opportunities. LIG Assets, Inc. trades on the pink sheets under the ticker symbol "LIGA".
For additional information, please visit LIG Assets corporate website: www.ligassetsinc.net.
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file with the U.S. Securities and Exchange Commission (SEC).
LIG Assets, Inc.
Investor Relations Contact:
Bravo International Services
Larry K. Davis (250) 595-7714
SOURCE LIG Assets, Inc.