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TLGY TLGY Acquisition Corporation

11.49
0.006 (0.05%)
25 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
TLGY Acquisition Corporation NASDAQ:TLGY NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.006 0.05% 11.49 11.15 11.63 11.49 11.49 11.49 1,334 01:00:00

Technology Connections Merger Partner HouseRaising, Inc. Receives Endorsement from Senator John Edwards in Support of Discretion

24/03/2004 1:05pm

PR Newswire (US)


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Technology Connections Merger Partner HouseRaising, Inc. Receives Endorsement from Senator John Edwards in Support of Discretionary Grant CHARLOTTE, N.C., March 24 /PRNewswire-FirstCall/ -- Technology Connections, Inc. (BULLETIN BOARD: TLGY) (previously TGYC) announced that its merger partner (HouseRaising, Inc) has received a major endorsement from North Carolina United States Senator John Edwards in support of a discretionary grant through the Department of Housing and Urban Development. "I wholeheartedly support their (HouseRaising) proposal and would appreciate your giving it careful consideration. HouseRaising has developed a comprehensive classroom and on-the-job training program for displaced workers. The program prepares these North Carolinians for rewarding careers as homebuilders and subcontractors. Participants will receive scholarships for the classroom portion of the curriculum and additional income while working with contractors during the on-the-job training component. Furthermore they will develop business management skills that will enable them to start their own homebuilding businesses," Senator Edwards wrote in his endorsement. Robert V. McLemore, the CEO of HouseRaising, states: The Homebuilding industry is enjoying record sales and has done so for close to a decade. Low interest rates coupled with population growth, forming millions of new households each year has fueled record profits for the nation's largest builders. HouseRaising's research indicates the current level of homebuilding throughout America is sustainable as long as interest rates stay between 6 - 7%. Most economists support the theory that the current 5% rates will likely rise a percentage point during 2004. Many analysts estimate that, as short-term rates rise with the pick up in the GDP, long-term rates, used to set mortgage rates, may remain level or even dip lower. Whatever the outcome, we believe homebuilding in general should remain brisk through 2010. Additionally, the design/build segment of the homebuilding industry is less dependent on interest rates than other sectors. As previously reported, on February 19, 2004, TLGY, the privately owned HouseRaising, Inc. and HouseRaising's stockholders entered into an Agreement and Plan ofMerger pursuant to which HouseRaising will merge with and into TLGY. In addition, TLGY has agreed to change its corporate name from "Technology Connections, Inc." to "HouseRaising, Inc." prior to the closing. The closing will occur on the second day after the satisfaction or waiver of all conditions precedent to the obligations of the parties to consummate the transactions contemplated by the merger agreement. Statements in this press release regarding the expansion of the Company's operations are forward-looking statements. Words such as "expects," "intends," "anticipates," and "likely" also identify forward-looking statements. Actual results may differ from such forward-looking statements as a result of a number of factors. DATASOURCE: Technology Connections, Inc. CONTACT: Andre Nazarian, Director of Investor Relations of Technology Connections, Inc., +1-212-725-4805 Web site: http://www.houseraising.com/

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