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DealerAdvance Announces Proposed Acquisition in Spectrum Broadcasting
November 13, 2009 --
ADDISON, TX -- (Marketwire) -- 11/13/09 -- DealerAdvance, Inc. (PINKSHEETS: DLAD) (soon to become Cabal Communications Corporation) today announced that it has signed a Letter of Intent to purchase an interest in Spectrum Broadcasting.
DealerAdvance CEO Steven Humphries in making the announcement said, "Today the Company singed a Letter of Intent to purchase an interest in Spectrum Broadcasting. Spectrum is currently in final negotiations to purchase its first radio property in Texas and the deal is contingent upon Spectrum's successful purchase of the radio property. DealerAdvance will assist Spectrum in the purchase of the radio property and will also assist in the raise of capital for other acquisitions."
Earlier this year DealerAdvance announced that it would become a broad-based media company with holdings in the print and broadcasting industry under the name Cabal Communications Corporation (the name change is pending approval of FINRA). Once the proposed transaction is completed with Spectrum, the Company will have completed its first acquisition in the broadcasting industry.
This news release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. When used in this release, words such as "estimate," "expect," "anticipate," "projected," "planned," "forecasted" and similar expressions are intended to identify forward-looking statements, which are, by their very nature, no guarantees of the Company's future operational or financial performance, and are subject to risks and uncertainties. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Due to the risks and uncertainties, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Steven Humphries
972-248-2244 X106
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