TLGY Acquisition (NASDAQ:TLGY)
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From May 2019 to May 2024
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/