The Committee to Protect Lakeside Mortgage Fund, LLC Files Definitive Consent Solicitation Statement

Oct 18, 2010, 10:00 ET from The Committee to Protect Lakeside Mortgage Fund, LLC

LOS ANGELES, Oct. 18 /PRNewswire-USNewswire/ -- The Committee to Protect Lakeside Mortgage Fund, LLC announced today that it has filed its definitive consent solicitation statement with the Securities and Exchange Commission (SEC).  The Committee is requesting consents from the members of Lakeside Mortgage Fund, LLC to (i) remove the Fund's current manager and (ii) replace the current manager with Sovereign Capital Management, Inc. or its affiliate. 

The Committee urges the members of the Fund to read the Committee's consent solicitation materials as it contains important information about the Committee's consent solicitation. The Committee urges members to protect their investment by supporting The Committee to Protect Lakeside Mortgage Fund, LLC and its proposals. Upon receipt of the definitive consent solicitations statement, members of Lakeside Mortgage Fund, LLC will be able to consent to the Committee's proposals by telephone, by Internet or by signing and returning the BLUE Consent Card by following the instructions on the BLUE Consent Card.

The consent solicitation statement is available at no charge on the SEC's web site at http://www.sec.gov. In addition, the participants in the solicitation will provide copies of the consent solicitation statement without charge upon request. Requests for copies should be directed to Jim Hadzicki at 1-800-861-5006.

The Committee is comprised of Sovereign Capital Management, Inc., a California corporation ("Sovereign Capital"), Todd A. Mikles, principal and CEO of Sovereign Capital, and Willard W. McCune, an individual investor in the Fund. None of the participants has any direct or indirect interests in the matters to be acted upon pursuant to the consent solicitation other than as a member of the Fund or with respect to the proposal to elect and admit Sovereign Capital Management, Inc. or its affiliate as the new manager of the Fund.  

More information about the participants and their interests is set forth in the definitive consent solicitation statement that has been filed by the Committee with the Securities and Exchange Commission.

SOURCE The Committee to Protect Lakeside Mortgage Fund, LLC