Littlefield Corporation (OTCBB:LTFD) today announced it has completed the acquisition of a bingo hall in Pensacola, Florida effective January 1, 2008.
Jeffrey L. Minch, President and Chief Executive Officer of Littlefield Corporation, offered the following comments:
“The acquisition in Pensacola, Florida strengthens our portfolio and strategically positions us for further growth and expansion. Our goal is to learn the Florida bingo market then use this knowledge and our expertise to continue to expand prudently and profitably as opportunities present themselves.
“As we have done in Texas, South Carolina, Alabama and now Florida, we expect to forge long term relationships with the charities playing charitable bingo in our halls and look forward to continuing to support them in their noble causes while at the same time providing favorable returns on our intellectual and financial capital.
“Thanks to everyone who has contributed to our continued growth and the completion of this acquisition.”
Littlefield Corporation is a Delaware Corporation headquartered in Austin, Texas whose corporate subsidiaries are involved as licensed commercial lessor and promoter (in South Carolina only) with thirty (30) charitable bingo halls in Texas, South Carolina and Alabama. Over 100 charities conduct bingo in these charitable bingo halls and in 2006 earned $4,300,000 to fund their noble causes. These charitable bingo halls had over 3,000,000 customers play bingo in 2006. In addition, the Company owns Word of Mouth (custom catering company) and Premiere Tents & Events (party rental company).
Investors are always cautioned to be careful in drawing conclusions from a single press release, the Company’s performance in a single quarter or the individual opinions of any member of the Company’s management in making their individual investment decisions.
In accordance with the safe harbor provisions of the Private Securities Reform Act of 1995: except for historical information contained herein, certain matters set forth in this press release are forward-looking statements that are subject to substantial risks and uncertainties, including government regulation, taxation, competition, market risks, customer attendance, spending, general economic conditions and other risks detailed in the Company’s Securities and Exchange Commission filings and reports.
Littlefield Corporation, Austin
Cecil Whitmore,
512-476-5141
Investor Relations
fax: 512-476-5680
cwhitmore@littlefield.com