BUFFALO, NY--(Marketwired - March 31, 2016) - Rand Capital Corporation (
Gross proceeds to Rand, which owned 31.25% of Gemcor, are expected to be $15.2 million. Net proceeds to Rand, after deducting taxes and expenses associated with the transaction, are expected to be approximately $10 million.
ABOUT RAND CAPITAL
Rand Capital (
Safe Harbor Statement
This news release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements concerning the expected timing and completion of the Gemcor sale transaction, the expected cash proceeds of the transaction to Rand and Rand's plans for those proceeds when and if received. These statements involve known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from the results expressed or implied by such statements, including general economic and business conditions, the satisfaction or performance by the parties or otherwise of all conditions to closing of the Gemcor sale, and the timing and opportunity for investments of the sale proceeds among others. Consequently, such forward looking statements should be regarded as the Corporation's current plans, estimates and beliefs. The Corporation assumes no obligation to update the forward-looking information contained in this release.
Contact Information:
Contacts:
Company:
Allen F. ("Pete") Grum
President and CEO
Phone: 716.853.0802
Email: pgrum@randcapital.com
Investors:Phone:
Deborah K. Pawlowski
Kei Advisors LLC
716.843.3908
Email: dpawlowski@keiadvisors.com