SOURCE: Sebastian River Holdings, Inc.
TORRANCE, CA--(Marketwire - Jul 24, 2012) - Sebastian River Holdings, Inc. (PINKSHEETS: SBRH) is pleased to announce the appointment of Dan Benjamin as Chief Executive Officer and Chairman of the Board.
Mr. Benjamin brings extensive experience to his new position, having worked in the Automotive and Real Estate Holding sectors. He has held various senior positions as well as aided in multiple start-ups and facilitated multiple company turnarounds. His entrepreneur spirit allows for cutting edge innovation and with his success in company turnarounds drives a strict focus on the bottom line. Mr. Benjamin is quoted as saying, "I am happy and excited to be taking the position, Sebastian has a driven group of shareholders with aligned interest in executing the new business model."
Sebastian entered into a settlement agreement relieving a substantial debt in the company. The debt holder has agreed to retire the portion of a convertible Promissory Note in the amount of $246,000. The company further confirms that no shares were issued, distributed or otherwise used as consideration toward the settlement of this debt. Sebastian River continues working with several shareholders and debt holders in the retirement of equity and settlement of debts to enhance shareholder value.
About Sebastian River Holdings, Inc.
Sebastian River Holdings, Inc. (a C-Corp formed under the Laws and Jurisdiction of Florida), founded in 1995, is a well-diversified holding company with a scope and experience level unsurpassed by peer companies. Operating under three major divisions: Corporate Equity Speculation & Financing, Business Incubation, and Business Services, Sebastian River Holdings is a business development centric holding company. Shareholders can now subscribe to our Shareholder Newsletter, you will receive press releases at the time it hits the wire and other important shareholder announcements.
Forward-Looking Safe Harbor
This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.