Message #7 From:
NewsBot Date: August 16, 2006 06:47:00 AM
RHWC News Reliant Home Warranty Corp. Announces August Letter to Shareholders and Nearly $10 Million (CDN) In Applications
TORONTO--(BUSINESS WIRE)--Aug. 16, 2006--Boyd Soussana, President and CEO of Reliant Home Warranty Corp. (OTCBB:RHWC), announced the issuance of a letter to shareholders and nearly $10 million (CDN) in Applications:
Dear Shareholders,
Let me begin by thanking you for your continued support of Reliant.
The last few weeks have been an exciting time with the long
anticipated launch of our residential mortgage operations. Although
the launch was limited to a select group of Reliant Mortgage Lending
Partners within the Centum Financial Group, the initial response has
been tremendous as nearly $10 million (CDN) worth of mortgage
applications were received within the first three weeks. In the coming
months, we expect this success to grow exponentially as our mortgage
operations expand to a larger number of Reliant Mortgage Lending
Partners in the provinces of Ontario, New Brunswick, Nova Scotia,
British Columbia, Saskatchewan, and Alberta.
Through the utilization of innovative and progressive mortgage
solutions, Reliant is steadfastly committed to becoming a competitive
force in the Canadian and, eventually, the American mortgage markets.
Additionally, as the company continues to grow, Reliant management is
cognizant of the need to increase shareholder value. Without a doubt,
the past few months have been a trying time for many firms in the
mortgage industry, including Reliant. We feel that the recent price
and market value of our stock is not representative of the enterprise
value for our current and future business prospects. As such, Reliant
management members will take the proactive measure of personally
purchasing shares of company stock on the open market. Such a move
demonstrates management's commitment and their belief that Reliant
stock is currently undervalued.
We will continue to be upfront with our shareholders and provide as
much information as possible in a timely manner. This has been
demonstrated by our recent press releases regarding mortgage activity
updates. As our business grows, we will continue keeping our investors
informed and knowledgeable of company operations. We know this is not
a sprint, but a marathon, and we look forward to sharing our successes
with those who stay in for the long haul.
Very truly yours,
Boyd Soussana
About Reliant Home Mortgage Canada Inc.
For more information about Reliant Home Mortgage Canada Inc., visit the website at www.relianthomemortgage.com.
Forward-Looking Statement
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical facts may be forward-looking statements. Forward-looking statements are based on expectations, estimates and projections at the time the statements are made to involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. For a summary of such risks and uncertainties, see the Company's periodic reports and other filings with the Securities and Exchange Commission.
