Message #5 From:
NewsBot Date: July 9, 2006 07:22:00 PM
TLYH News Tally-Ho Ventures, (OTCB: TLYH), Today Announced That It Has Agreed to Extend the Closing Date of Protrust Private Clients S.A
NEW YORK--(BUSINESS WIRE)--July 9, 2006--"Tally-Ho Ventures, Inc., (OTCBB: TLYH), today announced that it has agreed with the Protrust Group to extend the period within which closing may occur on the planned acquisition of Switzerland-based Protrust Private Clients S.A. ("PTPC") to 4 August 2006. The extension is necessary to comply with certain US regulatory issues."
Nigel Gregg, CEO of Tally-Ho stated that "this acquisition is an enormous development for us. PTPC brings with them not only a platinum Swiss reputation, but significantly in excess of $1.0 billion of client assets. We are paying approximately $8 million or 3 times PTPC's most recent net earnings to do so".
Gregg also added that "this unfortunate delay was unforeseen, but I am confident that the transaction will be concluded within the extension period agreed".
ABOUT TALLY-HO VENTURES
Tally-Ho Ventures an independent international private wealth management organization focused on serving the needs of small institutions and high net-worth individuals throughout the world.
ABOUT PROTRUST PRIVATE CLIENTS SA
Originally established in 1992, the company transformed itself into an authorized Fiduciary (Trust) Company in August 1996. PTPC provides discretionary management services for the assets of high net worth individuals, corporation and Trusts emanating from many jurisdictions including Italy, Switzerland and the Far East.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including without limitation, the independent authority of the special committee to act on the matters discussed, the successful negotiation of the potential acquisition and disposal of transactions described above, successful implementation of the company's business strategy and competition, any of which may cause actual results to differ materially from those described in the statements. In addition, other factors that could cause actual results to differ materially are discussed in the Company's most recent Form 10-QSB and Form 10-KSB filings with the Securities and Exchange Commission.
