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Southern States Sign Company Completes Reverse Merger Transaction with Conte Rosso & Partners S.r.l.
By: PR Newswire
Nov. 13, 2012 07:57 PM
NEW YORK, Nov. 13, 2012 /PRNewswire/ -- Southern States Sign Company (OTC Bulletin Board: SOST) announced today that on November 1, 2012 it consummated a "reverse merger" with Conte Rosso & Partners S.r.l, an Italian limited liability company ("CR&P"), in which the Company acquired all of the assets of CR&P (the "Merger").
Prior to the consummation of the Merger, the Company was not engaged in any trade or business. CR&P is active in the hospitality business and currently owns five top class boutique hotels in Italy. Following the Merger, the Company will own and operate the hospitality business related to CR&P's five boutique hotels. In addition, the Company has added the following new directors to its board of directors: Mr. Marco Milli, Mr. Charles Gargano and Ms. Dorothy (Dottie) Herman.
Antonio Conte, Chief Executive, said, "We intend to build an international hotel group owning high quality boutique and other hotels where we can bring the Italian style to bear to create a special experience. We have identified a number of Italian and international opportunities to simply acquire exciting properties but also where development will significantly enhance their attractiveness. Our team is geared up to move us forward rapidly and to create real value."
Additional information regarding the Merger and the new directors are set forth in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on November 7, 2012.
About Conte Rosso & Partners S.r.l
SOURCE Southern States Sign Company
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