M2 PRESSWIRE-January 10, 2011-Stock Pick: Pink Sheet Penny Stock News - Jan 10 - HKFI, SHMN, KATX, AVEW(C)1994-2011 M2 COMMUNICATIONS
RDATE:10012011
Stockpick.pro brings you all the stock news: Hancock Fabrics Inc. (OTC symbol: HKFI), SOHM Inc. (PINKSHEETS: SHMN), KAT Exploration Inc. (PINKSHEETS: KATX), ActionView International Inc. (Pink Sheets:AVEW)
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Hancock Fabrics Inc. (OTC symbol: HKFI)
BALDWYN, Miss.--(Jan 7)-- Hancock Fabrics Inc. (OTC symbol: HKFI) today announced that the employment agreement of the Company's President and Chief Executive Officer, Jane F. Aggers, will not be renewed and her employment with the Company will terminate effective January 28, 2011. She will also resign from the Board effective with her departure. Board member Steven R. Morgan will serve as interim President and Chief Executive Officer while a committee of the Board conducts a search to identify a successor.
Steven Scheiwe, Chairman of the Company's Board of Directors, noted, "Ms. Aggers helped Hancock Fabrics through a difficult period and its successful emergence from bankruptcy in 2008. The Board is appreciative of her leadership over the past six years."
Mr. Morgan, age 59, has been a director of the Company since June 2010 and currently chairs the Audit Committee. Mr. Morgan also serves on the Compensation Committee of the Board and on its Nominating and Corporate Governance Committee. Mr. Morgan has over thirty years of retail experience. Formerly, Mr. Morgan was President of GameStop Corporation from 2005 to 2008 and held the position of President of North American Operations at Electronic Boutiques, as well as President of EB Games - Canada, and held various senior executive roles with May Department Stores and Federated Department Stores. He is an Operating Partner with Verite Capital Partners, a private equity and consulting firm, and was a director of Movie Gallery, Inc., a home entertainment specialty retailer, from September 2009 to November 2010.
Hancock Fabrics, Inc. is committed to nurturing creativity through a complete selection of fashion and home decorating textiles, sewing accessories, needlecraft supplies and sewing machines. The Company currently operates 266 retail stores in 37 states and an Internet store at www.hancockfabrics.com.
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SOHM Inc. (PINKSHEETS: SHMN)
BUENA PARK, CA -- 01/07/11 -- SOHM Inc. (PINKSHEETS: SHMN), a generic pharmaceutical manufacturer that produces and markets generic drugs covering all major treatment categories, announced today it has promoted Shailesh Shah, former Vice President for Corporate Strategy, to the position of President and CEO of SOHM's US, India, and Global Operations. Mr. Shah's promotion will be effective January 15, 2011. Shailesh Shah's performance and leadership has produced record revenue in 2010 with triple digit growth in US and India pharmaceutical markets. Emerging export markets in South East Asia, Latin America, and Africa are expected to become significant revenue producers as new partnerships and alliances mature in 2011.
"India, with its growing population and pharmaceutical needs, is the right place for SOHM to expand manufacturing operations to serve local markets and also our export markets," stated Shailesh Shah, President and CEO Elect of SOHM, Inc. "We are creating new opportunities for partnerships and joint ventures with Indian businesses and also our key emerging markets in South East Asia, Latin America, and Africa. With an integrated team, we will continue to develop generic pharmaceutical products that meet the population's demands in these growing markets. Our philosophy of providing millions of people access to quality generic drugs that were previously left out because of high prices and lack of distribution will drive growth in 2011."
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KAT Exploration Inc. (PINKSHEETS: KATX)
MOUNT PEARL, NL -- 01/07/11 -- KAT Exploration Inc. (PINKSHEETS: KATX)
KAT Exploration, Inc. (PINKSHEETS: KATX) is pleased to inform shareholders and the public of its ongoing progress with regards to company events and distribution of the 1 for 4 BVIG shares to KATX shareholders.
The company is still waiting for the latest results from drill hole #2 on its Rusty Ridge project.
As stated before in a prior press release, results have been received from the upper 50m of the 334m of hole #2 but results have not been received from the remainder of the selected sections sent for analysis. In speaking with Actlabs who are doing the analysis of these samples it may still be a couple more weeks before results are received.
Another 102 new claims have been staked around the original Rusty Ridge claims in order to protect the area for future exploration.
While much speculation has been raised as to why the delay in BVIG share distribution, the company wishes to assure its shareholders that we and our attorneys are working through the SEC rules and regulations in order to comply with all required filings. We realize that while many have been anxiously waiting for the distribution to take place, we ask for continued patience as the process for this procedure moves forward. We will inform shareholders when the distribution filing is approved by all regulatory institutions.
The company is also in the initial stages of filing a 15c211in order to move Kat Exploration Inc from the Pink Sheets listing to that of the OTCBB. As progress moves forward with these filings further updates will be made available to shareholders and public.
The company is also in the process of engaging a full service Investor Relations firm to assist in its communication with shareholders and public alike.
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ActionView International Inc. (Pink Sheets:AVEW)
CORONA DEL MAR, Calif., Jan. 7, 2011 -- ActionView International, Inc. (Pink Sheets:AVEW) today announced that its wholly-owned subsidiary, MatchFights, LLC, has signed an exclusive content agreement with Buddahsport, Inc. under which MatchFights will commence broadcasting Buddahsport content live over the Internet on its www.wcfc.com website.
Under the terms of the agreement, MatchFights, which does business as WCFC, has the exclusive right to broadcast all Buddahsport generated content over the Internet and can also edit the live content for future television rebroadcast. In exchange for the exclusive broadcast rights, WCFC agreed to share a percentage of revenues generated from pay-per-view and video-on-demand buys of Buddahsport content.
Buddahsport is a mixed martial arts production company specializing in putting on live fight events in addition to live fight training seminars conducted by the top trainers and fighters in the industry. Buddahsport anticipates that the agreement with WCFC will allow a greater number of athletes to participate in its live training seminars and tap into a worldwide market.
Nick Mirabella, president of Buddahsport, commented on the agreement. "We are excited to partner with WCFC to bring our product to the live Internet audience. MMA is the fastest growing sport in the world; however, access to the top trainers is too often limited by both geography and cost. With the live-streaming capabilities of WCFC, we can now offer athletes anywhere in the world the chance to train with top name fighters and coaches."
Action View Chief Executive Officer Joe Wooten added, "Buddahsport fills a void that has been completely ignored in our industry, but one that has tremendous growth potential both domestic and internationally. The stability of the WCFC live streaming platform, our adaptive player capability, and our unparalleled video quality ensures that viewers everywhere in the world with share the same, television quality experience for a fraction of the cost of typical pay-per-view."
WCFC expects the first live broadcast of Buddahsport content will be within two weeks and will announce details in the coming days.
Shareholders and anyone interested in monitoring the progress of the company are encouraged to subscribe to the electronic mailing list by forwarding their email address to investors@wcfc.com.
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