EU, Indonesia negotiate partnership

Jakarta (The Jakarta Post/ANN) – Indonesia and the European Union (EU) began negotiations on Monday on a comprehensive economic partnership agreement (CEPA) that seeks to eliminate over 95 per cent of import tariffs on goods and improve bilateral investment.
The chief operating officer of the EU’s external action service, David O’Sullivan, said the Indonesia-European Union CEPA would be very important for the economic growth of both regions amidst the global economic turmoil.
“We already are a major trading and investment partner of Indonesia. In fact, we have huge complementarity. We believe it is very beneficial in terms of trade and investment to have an agreement with Indonesia. It is a win-win solution for both sides,¿ O’Sullivan said.
The EU has a combined non oil and gas trade value of US$32 billion in 2011 with Indonesia, an all time high, and a trade surplus of $8 billion for Indonesia.
In terms of investments, businesses from the EU invested up to $2.2 billion in 2011, making it the second-largest source of foreign investment into Indonesia. EU companies also employ over 500,000 employees in Indonesia.
“It is time to start the negotiation. From our perspective, trade negotiation typically takes a couple of years but this negotiation could go relatively quickly,¿ O’Sullivan said.
Based on policy recommendations from a joint study team, the CEPA would cover improvements in market access, capacity building and facilitation of trade and investment. On trade, the agreement would implement gradual tariff reduction within a period of nine years, eliminating 95 per cent of tariffs and possibly even the remaining 5 per cent.
The capacity-building program would include a permanent forum for business-to-business and business-to-government technical dialogue and joint financing for programs. CEPA would also cover standard protocols for joint cooperation in infrastructure development under the so-called private-partnership framework.
House of Representatives’ trade commission chairman Airlangga Hartarto said that the multitude of issues being discussed meant the agreement could potentially provide many beneficial opportunities for both regions.
“This is not a Free Trade Area (FTA) agreement but will be more comprehensive. The issues being discussed include trading, investment and capacity-building. These issues make this agreement different from the FTA, which only aims at eliminating levies,¿ Airlangga said.
Indonesian Employers’ Association (Apindo) chairman Sofjan Wanandi said that he expected EU investment to provide benefits to small- and medium-scale enterprises (SMEs), a sector on which Indonesia relied heavily for growth.
“I believe this [agreement] will benefit both sides and we must also involve SMEs in our future investment plans. We are going to promote this agreement throughout the essential business regions in the country,¿ Sofjan said.
“Now that the negotiation is underway, we need to promote this agreement to the public so that they can give us their input. This [negotiation] will take time and therefore Indonesia must play the main role in ensuring the discussions go in line with our interests,¿ he added.
Indonesian Chamber of Commerce and Industry (Kadin) deputy chairman for international trade Emirsyah Satar said that establishing a comprehensive partnership with the EU was important because there was still a lot of untapped potential.
“We rank only at number 23 in the world in imports to the EU. On the other hand, the EU is the fourth-largest exporter into Indonesia. So, there is still a lot of room for business growth,¿ Emirsyah said.
COPYRIGHT: ASIA NEWS NETWORK

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3 Things That Could Move Financial Stocks Today

NEW YORK (TheStreet) — Here’s the news and headlines that could drive action in the big financial stocks today.
Bank of America(BAC) said in its annual 10K filing with the SEC that it will stop selling new home loans to Fannie Mae(FNMA), citing an ongoing dispute with the housing giant over mortgage repurchase claims. According to press reports, the bank has said its move will not affect customers seeking home loans as it will continue to sell new mortgages to Freddie Mac(FMCC) or retain them in their own books. It will continue to offer loans refinanced and modified through government programs to Fannie Mae. Bank of America has been scaling back its presence in the mortgage origination business. Last year it exited the correspondent mortgages business. The bank also disclosed that it still faces “reasonably possible losses” of $3.6 billion in addition to what it has accrued. http://tourism9.com/    http://vkins.com/

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Citigroup(C) is in the process of winding down its nearly 10% stake in India’s HDFC (Housing Development and Finance Corporation). The bank will sell 145.26 million shares in the leading housing finance company as part of a block trade, with an offer range of 630 and 730 rupees, according to Financial Times. At the upper range, the bank will raise $2.1 billion from the sale. The final price will be announced Friday morning. Citigroup had already pared its stake in HDFC from 11.4% to under 10% last June. At that time, the bank had said it was a mere response to the anticipated changes to its capital structure under Basel III and was not a reflection of its outlook on HDFC or the Indian market. Analysts believe the sale may be linked to an anticipated writedown the bank may have to take if Morgan Stanley(MS) exercises its option to buy an additional 14% stake in Morgan Stanley Smith Barney joint venture.

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Friday also brings economic data in the form of new homes sales data at 10:00 a.m. St. Louis Federal Reserve President James Bullard will be speaking in New York about housing and monetary policy. His comments may get attention in light of the Fed’s recent calls for policy action to boost housing.

FTTN to Scout New Targets at Investment Banking Conference

BRADENTON, Fla.–(BUSINESS WIRE)–
The executive leadership of First Titan Corp. (OTCBB: FTTN.OB – News) will seek out lucrative new business opportunities at the National Investment Banking Association (NIBA) Conference this week in New Orleans.
The conference will provide a forum for emerging companies seeking financing or exposure to present their story to venture capitalists, early-stage investors and industry leaders. The organization’s 121^st conference, it is planned to be a comprehensive showcase of cutting-edge, innovative entrepreneurs and businesses from across the country, including up-and-comers in the energy sector.
First Titan is in search of potentially lucrative new partnerships, joint venture candidates and possible acquisitions that will increase the company’s developing foothold in the energy industry. The NIBA Conference will offer a prime opportunity for the company to network with rising stars in need of assistance in funding, marketing and distributing their projects.
The conference runs Thursday through Friday at the Le Pavillon hotel.
For more information on FTTN’s energy exploration initiative, please visit www.firsttitanenergy.com/investors.
First Titan is working to develop new energy solutions to compete in a booming global industry alongside Chesapeake Energy Corp. (NYSE: CHK), Anadarko Petroleum Corp. (NYSE: APC), SandRidge Energy Inc. (NYSE: SD) and Apache Corp. (NYSE: APA).
About First Titan Corp.
First Titan Corp., through its wholly owned subsidiary, First Titan Energy, LLC, is committed to the exploration and development of oil and natural gas resources around the globe. The company continually seeks to partner with energy developers that are pursuing innovative new methods of oil and gas extraction, including the development of new technologies, cleaner methods and unconventional resources.
For more information about First Titan Energy, please visit www.firsttitanenergy.com. Follow us on Twitter at www.twitter.com/firsttitancorp.
Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words “believes,” “expects,” “anticipate” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone’s past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
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Hana Announces Completion of Non-Brokered Financing and Investment by Strategic Shareholder

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Feb. 6, 2012) – Hana Mining Ltd. (“Hana” or the “Company”) (TSX VENTURE:HMG.V – News)(FRANKFURT:4LH) is pleased to report that it has closed the non-brokered private placement previously announced on January 26, 2012. The private placement consists of 11,054,648 common shares at a price of Cdn$1.35 per share for gross proceeds of Cdn$14,923,775. Shares issued pursuant to the private placement will be subject to a 4 month hold period expiring on June 4, 2012.
Cupric Canyon Capital LP (“Cupric”), which is owned by its management and the Barclays Natural Resource Investments division of Barclays Capital, acquired 6,250,000 of the newly issued shares and now holds 10% of the Company’s issued and outstanding shares. Cupric is focused on acquiring interests in undeveloped copper assets with a known resource and adding value to them by assisting in the advancement of the projects through the development process. The management of Cupric, all of whom are former senior executives with major mining companies including Phelps Dodge Corporation, has decades of experience in the exploration, development and operation of world-class copper assets.
Hana Mining’s CEO and Chairman, Marek Kreczmer, commented as follows:
“This agreement is the culmination of many months of building a relationship between the Company and Cupric. Cupric’s management team brings valuable experience in the development and operation of copper projects in North America, South America and Africa, most notably the world-class Tenke Fungurume copper-cobalt mine in the Democratic Republic of Congo. I look forward to working with the management of Cupric towards the development of the Ghanzi Project. With this financing in place we are able to proceed with our Cdn$18 million budget for 2012. In addition to completing the PEA, we will submit the Feasibility Study to the Botswana Ministry of Minerals, Energy and Water Resources and will allocate Cdn$5 million for a multiphase regional exploration campaign outside of the Banana Zone at Ghanzi.”
“I also wish to acknowledge the other five long term shareholders who have participated in this placement.”
The CEO of Cupric, Dennis Bartlett, commented as follows:
“We are pleased to have an opportunity to participate in this private placement by Hana Mining. With this investment, we look forward to collaborating with Marek and his team in an effort to further advance the Ghanzi Project, which we believe is one of the most highly prospective undeveloped copper resources in the world today.”
Proceeds from this placement will be used to complete both the Preliminary Economic Assessment and the Feasibility Study and to advance the regional exploration and development of the Ghanzi project and related working capital and general corporate purposes.
Finders’ fee of approximately 2.9%, payable in cash, will be paid on the private placement.
The private placement has been conditionally accepted by the TSX Venture Exchange.
About Hana Mining’s Ghanzi Copper-Silver Project in Botswana:
The Ghanzi Project is located in the center of the Kalahari Copper Belt in northwestern Botswana. The Ghanzi property covers 2,149 square kilometres, and contains sediment-hosted copper-silver deposits with a demonstrated cumulative tested strike length of 70 kilometres. This favorable geology extends over an estimated strike length of 600 kilometres. Hana Mining released results of its most recent NI 43-101 compliant resource estimate for the Ghanzi Project on December 20, 2010, announcing an Indicated mineral resource of 585 million pounds of copper and 12 million ounces of silver from 19.7 million tonnes at a grade of 1.35% copper and 19.7 g/t silver. All of the Indicated resources are from the Banana Zone. There are also Inferred resources of 2.4 billion pounds of copper and 40.6 million ounces of silver from 91.2 million tonnes. This Inferred mineral resource estimate consists of 69.9 million tonnes grading 1.10% Cu and 14.98 g/t Ag in the Banana Zone, 13.4 million tonnes grading 1.66% Cu and 12.11 g/t Ag in Zone 5, 6.3 million tonnes grading 1.5% Cu and 6.7 g/t Ag in Zone 6, and 1.6 million tonnes grading 0.85% Cu and 6.4 g/t Ag in the Chalcocite Zone; all at a cut-off grade of 0.75% Cu.
The Banana Zone exhibits certain areas of higher grade Cu and Ag mineralization, particularly between sections 49700 to 52000 on the North limb and sections 63000 to 71000 on both the North and South limbs, which represent an opportunity to locate starter pits and mine initial tonnages at higher than average grades. These higher grade pockets tend to be well within open pit depth parameters and represent opportunities to improve early cash flow and overall returns in development.
The project will benefit from proposed rail and power infrastructure expansions, along with proximity to local population centers and workforce. A feasibility study is currently underway (funded by the World Bank and the governments of Botswana and Namibia) to support completion of a rail line link that would connect Botswana with the Namibian port of Walvis Bay, on the Atlantic coast. The closest existing railhead to port is at Gobabis, in Namibia, approximately 550 km from our property. Construction has begun on the 600MW expansion of the government-owned Moropule Power Plant, having secured US$825 million project funding in May 2009. The Ghanzi Copper- Silver Project is currently accessed by the paved Trans-Kalahari highway, which passes within 15 km of the property.
The Ghanzi property is one of Africa’s premier future copper-silver resources.
This news release includes certain “forward-looking statements” within the meaning of applicable securities laws. All statements, other than statements of historical fact, included herein including, without limitation, statements relating to the Company’s future performance, are forward-looking statements. Forward-Looking statements are frequently, but not always, identified by words such as “plans”, “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible” and similar expressions, or statements that events, conditions or results “will”, “may”, “could”, or “should” occur or be achieved. These forward-looking statements may include statements regarding perceived merit of properties; exploration results and budgets; mineral reserves and resource estimates; work programs; capital expenditures; timelines; strategic plans; completion of transactions; market price of metals; or other statements that are not statements of fact. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations include the uncertainties involving the need for additional financing to explore and develop properties and availability of financing in the debt and capital markets; uncertainties involved in the interpretation of drilling results and geological tests and the estimation of reserves and resources; the need for cooperation of government agencies in the development and operation of properties; the need to obtain permits and governmental approvals; risks such as accidents, equipment breakdowns, bad weather, non-compliance with environmental and permit requirements, unanticipated variation in geological structures, ore grades or recovery rates; unexpected cost increases; fluctuations in metal prices and currency exchange rates; and other risk and uncertainties disclosed in reports and documents filed by the Company with applicable securities regulatory authorities from time to time. The forward-looking statements made herein reflect our beliefs, opinions and projections on the date the statements are made. Except as required by law, we assume no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts
Marek Kreczmer
Hana Mining Ltd.
CEO
604-676-0824
778-370-0146 (FAX)
info@hanamining.com
www.hanamining.com
Patrick Donnelly
Hana Mining Ltd.
VP – Corporate Development
604-676-0824
778-370-0146 (FAX)
info@hanamining.com
www.hanamining.com

United Silver Corp. and Hale Capital Partners Complete Financing

VANCOUVER, BRITISH COLUMBIA–(Marketwire -02/01/12)- United Silver Corp. (“USC” or the “Company”) (TSX: USC.TO – News)(OTCQX: USCZF.PK – News) and Hale Capital Partners (“Hale” or the “Lender”) are pleased to announce that, subject to final approval from the Toronto Stock Exchange (the “TSX”), they have successfully closed their previously announced financing transaction. USC is now in a position to begin its four-year exploration and development plan to test the mineralization of the South Vein and Alhambra Vein at depth and along the east/west strike extensions of the veins.
In the financing transaction, USC issued to Hale a convertible note (the “Convertible Note”) in the principal amount of USD$6,300,000 (being the Canadian equivalent of $6,332,760.00, based on the Bank of Canada noon rate on January 31, 2012) evidencing a loan the proceeds of which were advanced by Hale pursuant to the Convertible Note and a securities purchase agreement (the “Securities Purchase Agreement”) entered into among a wholly owned subsidiary of Hale, as agent and initial purchaser, and USC. USC also issued to Hale 5,040,000 common share purchase warrants (the “Warrants”). Hale will have the right at any time to convert any or all of the principal owing under the Convertible Note into common shares (“USC Common Shares”) of USC at a conversion price of USD$0.50 (being the Canadian equivalent of $0.50, based on the Bank of Canada noon rate on January 31, 2012) per USC Common Share. In addition, Hale will have the right at any time to convert any or all of the accrued and unpaid interest that USC has elected (provided that USC has satisfied certain conditions set out in the Convertible Note) to add to the principal amount of the Convertible Note (“PIK Interest”). The conversion price with respect to PIK Interest will be an amount equal to the “market price” (as defined in the Toronto Stock Exchange Manual) on the applicable interest payment date, subject to the approval of the TSX in each instance. Each whole Warrant will entitle the holder to acquire one USC Common Share at an exercise price of US$0.42 (being the Canadian equivalent of $0.42, based on the Bank of Canada noon rate on January 31, 2012) per USC Common Share for a period of four years from the date of issuance.
If the principal amount of the Convertible Note is fully converted, Hale would hold 12,600,000 or 14.4% of the total number of issued and outstanding USC Common Shares. In the event that all of the Warrants are also exercised, Hale’s holdings would increase to 17,640,000 or 19% of the total number of issued and outstanding USC Common Shares. As the number of USC Common Shares issuable to Hale in respect of PIK Interest, if any, is contingent, in part, upon future values and share prices, the number of USC Common Shares which Hale may acquire should it exercise its conversion rights in respect thereof cannot be determined at this time.
None of the Convertible Note, the Warrants or the USC Common Shares that may be issued upon conversion or exercise, respectively, of these securities, have been registered under the United States Securities Act of 1933, as amended (the “1933 Act”), or the securities laws of any state of the United States, and may not be offered or sold in the United States absent registration or an applicable exemption therefrom under the 1933 Act and the securities laws of all applicable states.
Under the terms of the Securities Purchase Agreement, USC is required to appoint to its board a person mutually agreed upon with Hale and to permit an observer from Hale to attend its Board meetings, subject to conditions.
Hale has filed an early warning acquisition report on SEDAR. A copy of the report may be obtained by contacting Martin Hale at (212) 751-8228.
USC intends to use the net proceeds from the financing for exploration and development and working capital purposes. The loan proceeds will allow USC to continue its exploration and development drifting, bulk sampling and test mining on the South Vein. USC proposes to mill ore from the bulk sampling and test mining under a milling JV agreement with New Jersey Mining Company and to refine it under a contract with Formation Metals at its refinery located less than three miles from the mill. USC intends to use cash generated from operations, including the bulk sampling and test mining activities, to fund an extensive surface and underground drilling program to test the mineralization of the entire Crescent property and develop a property-wide mine plan without further equity raises and dilution.
Hale may or may not purchase or sell securities of the Company in the future on the open market or in private transactions, depending on market conditions and other factors material to Hale’s investment decisions and reserves the right to dispose of any or all of its securities in the open market or otherwise, at any time and from time to time and to engage in hedging or similar transactions with respect to the securities.
ABOUT UNITED SILVER CORP.
USC is a vertically integrated mining company with operations in Idaho, USA. It has earned, through development and operations, an 80% interest in the Crescent Silver Mine project in Idaho’s prolific Silver Belt – directly between two of the world’s historically largest silver producing properties, the Sunshine and Bunker Hill mines. USC also offers a full suite of mining services including contract mining and mine machine repair and fabrication services to silver miners in the district. USC’s common shares trade on the Toronto Stock Exchange under the symbol “USC”. For more information about USC, please visit: www.unitedsilvercorp.com.
ABOUT HALE CAPITAL PARTNERS
Based in New York City, Hale Capital Partners has established itself as a leading private equity firm focused on strategic investments in public companies and their subsidiaries. Hale Capital Partners’ team is comprised of seasoned private equity veterans and entrepreneurs, who bring not only deep domain expertise but also hands-on operating experience to help build highly successful companies. Hale Capital Partners’ mining portfolio spans all stages of mine development from exploration to commercial production.
Hale’s contact information is as follows:

Hale Capital Partners, L.P.
570 Lexington Avenue, 49th Floor
New York, NY 10022
Attn: Martin Hale, CEO and Portfolio Manager

ON BEHALF OF UNITED SILVER CORP.
Graham Clark, Chairman and Interim CEO
FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. Forward-looking statements in this press release include statements about USC’s intended use of the net proceeds and that they will enable USC to continue its exploration and development activities, its proposal to mill ore under a milling agreement with New Jersey Mining Company and refine it under a contract with Formation Metals, its intent to use cash from operations to fund an extensive surface and underground drilling program and that it can develop a property-wide mine plan without further equity raises and dilution. These forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. These assumptions include management’s assumption that the net proceeds of the financing, together with revenue from operations, will generate sufficient cash flow to fund the budget and that the price for metals will continue to make the Company’s activities economically feasible. Actual results may differ materially from those currently anticipated due to a number of factors beyond the Company’s control. These risks and uncertainties include the risks inherent in the Company’s activities and the risks identified in the Company’s periodic disclosure filings on the SEDAR website maintained by the Canadian Securities Administrators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
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Premier Service Bank Announces Financial Results for the Quarter and Year Ended December 31, 2011

RIVERSIDE, Calif.–(BUSINESS WIRE)– Premier Service Bank (OTCBB:PSBK.OB – News) today announced its unaudited financial results for the quarter and year ended December 31, 2011.
For the year ended December 31, 2011, the Bank reported a net loss of $2.19 million, or ($1.77) per diluted share, compared to a net loss of $3.26 million, or ($2.66) per diluted share for the year ended December 31, 2010. The net loss for the fourth quarter of 2011 was $820 thousand, or ($0.66) per diluted share, compared to a net loss of $707 thousand, or ($0.57) per diluted share for the fourth quarter of 2010. The variance in earnings between the respective periods is primarily attributed to the provisions to the Bank’s allowance for loan losses, which, for the year ended December 31, 2011, totaled $2.79 million, compared to $4.01 million for the year ended December 31, 2010. The provision to the allowance for loan losses for the fourth quarter of 2010 totaled $910 thousand, compared to $960 thousand for the same period in 2010.
At December 31, 2011, the Bank had $8.93 million of non-performing loans, representing 8.61% of the Bank’s total loans, compared to $8.21 million of non-performing loans, or 6.98% of total loans, at December 31, 2010. Impairment analyses are performed on the Bank’s non-performing loans and impairment adjustments, if any, are written off as a part of this process. The Bank had foreclosed real estate of $2.92 million at December 31, 2011, compared to foreclosed real estate of $1.87 million at December 31, 2010. All non-performing loans were on non-accrual at December 31, 2011 and 2010. The allowance for loan losses totaled $2.36 million at December 31, 2011, or 2.28% of total loans as of that date, compared to $2.55 million at December 31, 2010, or 2.17% of total loans as of that date.
At December 31, 2011, the Bank had total assets of $141 million, representing a decrease of $14.7 million or 9.45% compared to total assets of $156 million at December 31, 2010. Total deposits at December 31, 2011 were $111.8 million, representing a 9.43% reduction compared to total deposits of $123.4 million at December 31, 2010. Non-interest bearing demand deposits totaled $41.1 million at December 31, 2011, representing 36.8% of total deposits at that date, compared to $37.6 million of non-interest bearing demand deposits at December 31, 2010, which represented 30.5% of total deposits at that date.
The Bank’s gross loan portfolio totaled $103.7 million at December 31, 2011, representing an 11.9% decrease compared to gross loans of $117.6 million at December 31, 2010. Unfunded credit commitments stood at $7.6 million at December 31, 2011, representing a 42.9% decrease when compared to unfunded commitments of $13.3 million at December 31, 2010.
The Bank’s net interest margin for the year ended December 31, 2011 was 4.82%, a decrease of 0.14% compared to the net interest margin of 4.96% for the year ended December 31, 2010. The Bank’s net interest margin for the quarter ended December 31, 2011 was 4.64%, a decrease of 0.09% compared to the net interest margin of 4.73% for the fourth quarter of 2010.
At December 31, 2011, the Bank was adequately capitalized under applicable regulatory guidelines. Total shareholders’ equity at December 31, 2011 was $10.7 million, representing a decrease of $2.2 million, or 17%, compared to total shareholders’ equity of $12.9 million at December 31, 2010. On December 1, 2010, the Bank entered into a Consent Order with the Federal Deposit Insurance Corporation and the California Department of Financial Institutions. Among the provisions of the Consent Order is the requirement that within 90 days from the effective date of the Order (by February 28, 2011), the Bank shall increase and thereafter maintain its Tier I capital in such an amount to ensure that the Bank’s leverage ratio equals or exceeds 9.50 percent and its total risk-based capital ratio equals or exceeds 12 percent. The Bank was not in compliance with this requirement as of February 28, 2011 as required by the Order. As of December 31, 2011, these capital ratios were 7.21% and 10.78%, respectively. As a result, the Bank had not achieved compliance, as of December 31, 2011, with the capital ratios required by the Order. The Bank attempted to comply with the capital requirements of the Order during 2011, but its private placement offering during 2011 of up to $10 million of common stock to accredited investors was not successful. The stock permit issued by the DFI for that offering expired on December 23, 2011, and the Bank did not request an extension of the permit in view of the stale financial statements included in the offering and other factors. Because the Bank did not sell the minimum amount required by the offering, all subscriptions were returned when the offering expired. Before the Bank may commence a new offering, it must receive audited financial statements for its year ended December 31, 2011, and a new stock permit must be issued. Audited financial statements are anticipated to be issued in early February. At that time, if the Bank has not satisfied the capital ratios required by the Order, the Bank intends to seek a new stock permit from the Department of Financial Institutions for the sale of up to $10 million of common stock to accredited investors in another nonpublic offering. While the Bank continues to be adequately capitalized under applicable regulatory guidelines, in order to comply with the capital requirements of the Consent Order the Bank will need to complete the proposed capital offering in 2012 or find another solution which improves its capital ratios, including the possible sale of the Bank or a transfer of control of the Bank, or taking steps to decrease the asset size of the Bank until the ratios are in compliance with the Consent Order.
The Bank’s President and Chief Executive Officer, Kerry L. Pendergast, stated, “While 2011, in most respects, was a continuum of 2010, there are anecdotal signs suggesting that, perhaps, the local marketplace is beginning to shows some signs of stabilization. While it is too early to state that we’ve turned the corner, I would suggest that our customers appear to be more optimistic about the future.”
Pendergast went on to say, “Throughout 2011 Premier Service Bank focused its efforts on managing the credit portfolio; while this message has been embedded in our releases for quite some time, it is central to returning the Bank to consistent profitability. Recognizing that delinquency is generally a precursor to more serious issues developing in a relationship, management and staff intensified their collection efforts throughout the year; as a result, overall delinquency within the institution has been trending downward over the last 2 quarters. In 2011 the Bank contributed $2.79 million to its Allowance for Loan Losses as compared to a contribution of $4.01 million in 2010; this serves to support the belief that the pace of problem loans is beginning to decline and that appraisal valuations, tied to Classified Commercial Real Estate Loans, are also beginning to stabilize.”
Pendergast said in closing, “While improving the overall asset quality of the Bank continues to be the primary focus of the executive management team and our Board of Directors, our entire team works tirelessly to ensure that our “customer first” mindset does not get lost in the process. Throughout the year, all of the Bank’s front line officers participated in a structured calling program that focused on the Bank’s existing customer base; at a minimum, each client assigned to an account officer was called on at least twice within the calendar year. The importance of retention calling cannot be overstated and is critical in an environment where large, money center banks are entering the region with the dollars and the resources to buy market share.”
Premier Service Bank is a California state-chartered bank with two offices, its headquarters office in Riverside and a full-service banking office in Corona. The Bank provides commercial banking services, including a wide variety of checking accounts, investment services with competitive deposit rates, on-line banking products, and real estate, construction, commercial and consumer loans, to small and medium-sized businesses, professionals and individuals. Additional information about Premier Service Bank is available at its website at www.premierservicebank.com.
Forward-looking Statements
This news release contains statements that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, estimates and projections about Premier Service Bank’s business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and in the following: Premier Service Bank’s ability to increase its assets, deposits and total loans, control expenses, retain critical personnel, manage interest rate risk, manage technological changes, address regulatory requirements, and other risks discussed from time to time in Premier Service Bank’s filings and reports with the Federal Deposit Insurance Corporation. In addition, such statements could be affected by general industry and market conditions and growth rates, and general domestic and international economic conditions. Such forward-looking statements speak only as of the date on which they are made, and Premier Service Bank does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.
For a more complete discussion of risks and uncertainties, investors and security holders are urged to read Premier Service Bank’s annual report on Form 10-K, quarterly reports on Form 10-Q and other reports filed by Premier Service Bank with the FDIC.
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Financial Data – Premier Service Bank
(Unaudited)
				Quarter Ended
(In Thousands)				Dec. 31, 2011						Sept. 30, 2011						June 30, 2011						Mar. 31, 2011						Dec. 31, 2010
Interest income(not taxable equivalent)				$	1,750					$	1,843					$	1,959					$	1,938					$	2,063
Interest expense					222						232						245						291						329
Net interest income					1,528						1,611						1,714						1,647						1,734
Provision for loan losses					910						275						884						725						960
Net interest income after provision for loan losses					618						1,336						830						922						774
Non-interest income					129						148						261						178						163
Non-interest expense					1,566						1,625						1,722						1,694						1,644
Income before income taxes					(819	)					(141	)					(631	)					(594	)					(707	)
(Benefit)/Provision for income taxes					1						-						-						-						-
Net income				$	(820	)				$	(141	)				$	(631	)				$	(594	)				$	(707	)
				Quarter Ended
(In Thousands)				Dec. 31, 2011						Sept. 30, 2011						June 30, 2011						Mar. 31, 2011						Dec. 31, 2010
Per share:
Net income – basic				$	(0.66	)				$	(0.12	)				$	(0.51	)				$	(0.48	)				$	(0.57	)
Weighted average shares used in basic					1,261						1,261						1,261						1,261						1,261
Net income – diluted				$	(0.66	)				$	(0.12	)				$	(0.51	)				$	(0.48	)				$	(0.57	)
Weighted average shares used in diluted					1,261						1,261						1,261						1,261						1,261
Book value at period end				$	5.22					$	5.89					$	6.00					$	6.49					$	6.97
Ending shares					1,261						1,261						1,261						1,261						1,261
Balance Sheet – At Period-End
Cash and due from banks				$	22,867					$	21,875					$	17,947					$	22,636					$	24,060
Investments and Fed fund sold					8,446						7,724						9,766						10,250						8,476
Gross Loans					103,668						109,429						111,500						113,645						117,624
Deferred fees					(198	)					(211	)					(233	)					(254	)					(263	)
Allowance for loan losses					(2,359	)					(3,130	)					(2,803	)					(2,561	)					(2,549	)
Net Loans					101,111						106,088						108,464						110,830						114,812
Other assets					8,832						9,398						10,559						10,592						8,644
Total Assets				$	141,256					$	145,085					$	146,736					$	154,308					$	155,992
Non-interest-bearing deposits				$	41,130					$	43,246					$	43,762					$	44,947					$	37,588
Interest-bearing deposits					70,629						69,499						70,519						77,347						85,809
Other liabilities					18,812						20,818						20,797						19,749						19,737
Shareholders’ equity					10,685						11,522						11,658						12,265						12,858
Total Liabilities and Shareholders’ equity				$	141,256					$	145,085					$	146,736					$	154,308					$	155,992
Asset Quality & Capital – At Period-End
Non-accrual loans				$	8,926					$	9,591					$	6,309					$	8,047					$	8,209
Loans past due 90 days or more					-						-						-						-						-
Other real estate owned					2,927						3,194						4,036						3,927						1,865
Other bank owned assets					-						-						-						-						-
Total non-performing assets				$	11,853					$	12,785					$	10,345					$	11,974					$	10,074
Allowance for losses to loans, gross					2.28	%					2.86	%					2.51	%					2.25	%					2.17	%
Non-accrual loans to total loans, gross					8.61	%					8.76	%					5.66	%					7.08	%					6.98	%
Non-performing loans to total loans, gross					8.61	%					8.76	%					5.66	%					7.08	%					6.98	%
Non-performing asset to total assets					8.39	%					8.81	%					7.05	%					7.76	%					6.46	%
Allowance for losses to non-performing loans					26.43	%					32.63	%					44.43	%					31.83	%					31.05	%
Total risk-based capital ratio					10.78	%					11.15	%					10.92	%					11.27	%					11.64	%
Tier 1 risk-based capital ratio					9.52	%					9.88	%					9.66	%					10.00	%					10.38	%
Tier 1 leverage ratio					7.21	%					7.86	%					7.73	%					7.87	%					8.05	%

Resource fuels Toronto market surge

The Toronto stock market was higher Wednesday on rising resource and financial sector stocks that benefited from word the International Monetary Fund is looking to bolster its financial firepower to help defuse a global economic crisis.
The S&P TSX Composite Index eased into noon hour Wednesday up 52.64 points to 12,285.47.
The Canadian dollar recovered 0.14 cents to 98.62 cents U.S.
On the TSX, the financial sector rose while Royal Bank advanced 58 cents to $52.40 while Bank of Nova Scotia gained 71 cents to $52.52.
Major deal making helped send the TSX industrials sector up sharply. Shares in Finning International Inc. climbed $1.35, or 5.53%, to $25.75 after it said it will acquire the Caterpillar distribution and support business formerly operated by Bucyrus in South America, the U.K., and Western Canada. The deal is worth $465 million U.S. Vancouver-based Finning is the world’s biggest Caterpillar dealer.
Canadian National Railways advanced 97 cents to $78.89.
The energy sector ran up as the February crude contract on the New York Mercantile Exchange improved on Tuesday’s $2 jump (see below). Suncor Energy gained 69 cents to $33.91 and Cenovus Energy climbed 83 cents to $35.89.
The base metals sector gained as other commodity prices were weak with March copper ahead two cents at $3.75 U.S. a pound after the Chinese economic report in particular sent the metal jumping nine cents Tuesday. China is the world’s biggest copper consumer. Teck Resources was up 94 cents to $40.79 while HudBay Minerals was ahead 26 cents to $10.96.
The gold sector was higher as Goldcorp Inc. climbed 32 cents to $45.99.
The consumer discretionary sector provided lift with auto parts giant Magna International ahead 95 cents to $40.95.
The IMF said it aims to add $500 billion U.S. to its resources so it can give out new loans to help mitigate a worsening financial crisis. The Washington-based institution said its staff estimates that countries around the world will need about $1 trillion U.S. in loans over the coming years.
Most of the concerns centre on the 17-nation euro-zone, which has been embroiled in a debt crisis for around two years.
Thanks to some $200 billion U.S. that European countries have recently promised to the IMF, it is already more than one third on its way to reaching its fundraising goal.
ON BAYSTREET
The TSX Venture Exchange rallied 4.90 points to 1,542.62, while the Nasdaq Canada index sifted off 0.39 points to 403.03
All but one of the 14 Toronto subgroups gained by lunch hour. Industrials progressed 1.5%, global base metals gained 1.4%, and the metals and mining group was 0.9% stronger.
The lone laggard was in information technology, down 0.2%.
ON WALLSTREET
In New York, equities edged higher Wednesday, as investors welcomed the International Monetary Fund plan to boost its bailout fund to contain Europe’s debt crisis.
The Dow Jones Industrials gained 49.01 points midday to 12,531.10
The S&P 500 added 5.66 points to 1,299.33, while the Nasdaq Composite picked up 21.96 points to 2,750.04.
Investors also had the latest bank earnings report to mull over, with Goldman Sachs reporting fourth-quarter earnings that beat forecasts but revenue well below expectations. Goldman shares spiked 5% as CEO Lloyd Blankfein said in a statement that he was seeing “encouraging” signs of improvement in the markets and economy.
Goldman’s mixed results came a day after Citigroup missed earnings estimates, while results from Wells Fargo were in line with expectations. Bank of America and Morgan Stanley are scheduled to release their results on Thursday.
Yahoo shares rose after the Web portal announced late Tuesday that co-founder Jerry Yang has resigned from the board of directors and all other positions at the company.
Shares of Carnival rose modestly, after falling 14% the day before. The cruise line operator said it may suffer a more than $100 million U.S. hit to its profit from the grounding of the Costa Concordia off the coast of Italy.
The euro firmed above $1.28 against the U.S. dollar on the news.
While the IMF’s beefed up lending capacity is good news, obstacles remain on the path toward a resolution to Europe’s debt crisis.
Greek government officials and the group representing private sector investors and banks are resuming talks Wednesday to try to nail down how big a writedown private investors are willing to take on the country’s bonds.
Economically speaking, producer prices fell 0.1% in December, the government reported Wednesday. Economists surveyed by Briefing.com expected a rise of 0.1% during the month.
A report from the Federal Reserve showed that industrial production rose 0.4% in December, slightly below expectations, while capacity utilization rose to 78.1%, in line with economist expectations.
Treasury prices for the 10-year note dipped, pushing yields up to 1.86% from Tuesday’s 1.85%. Treasury prices and yields move in opposite directions.
Oil for February delivery gained another 23 cents to $100.94 U.S. a barrel.
Gold futures for February delivery fell $7.00 to $1,648.60 U.S. an ounce.
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Thai-ASEAN News Network – Financial Market Unaffected by Ratings Cut in EU and News on Terrorist Attacks

The central bank governor is confident that the credit rating downgrades of nine European nations and the news of possible terrorist attacks in Thailand will not have a significant impact on the country’s financial market.
Bank of Thailand, or BOT, Governor Prasarn Trairatworakul said that the credit rating downgrades of nine European nations by the leading credit rating agency Standard & Poor’s was in line with the global financial market’s expectation.

Prasarn further said that the ratings downgrade will have not much impact on Thailand’s financial markets since Thai financial institutions have invested a small amount of money in the bonds of the nine European countries.
As for the news of possible terrorist attacks in Bangkok, he said the situation would likely ease up soon and that investor confidence has not been affected.
Prasarn admitted that the rising energy cost resulting from the government’s planned energy structure adjustment will lead to an increase in food prices and that will push the inflation rate upward.
He noted that it is normal for people to come out and oppose against the energy price hike as they have used cheap energy, which is among the cost-saving measures, for a long time.
The central bank governor also gave an update on the BOT’s plan to repay the Financial Institutions Development Fund’s debt, saying the central bank plans to request state-run banks to contribute to the Deposit Protection Fund like private commercial banks do.
However, Prasarn stated that Finance Minister Thirachai Bhuvanartnaranubala disagreed with the plan, fearing its impact on the competition of financial institutions.
The BOT governor added that the finance minister has planned to control the scope of doing business and the expansion of state banks’ assets such as the issuance of loans to prevent inequality in financial institutions.
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New Payday Advance Loans Survey Announced By USAPaydayForever.com

While European Stock Markets Go Up A Little Bit, USAPaydayForever.com Announces Payday Advance Loans Survey. They Want To Measure New Customer Experience
(PRWEB) January 03, 2012
Recently at Yahoo news, a financial article explained that while many stock exchanges are closed, some European exchanges had risen lightly. This article stated, “Germany’s DAX, which fell 14.7 percent last year, rose 1.4 percent Monday to 5981.79, while the French CAC-40, which ended 2011 17 percent lower, climbed 0.6 percent to 3,179.17. Stocks fell in South Korea and closed flat in Taiwan.” USAPaydayForever.com thought that this might not necessarily indicate better things to come for world economies. They mentioned that they would continue their payday advance loans promotional campaign this year. They said they would start the year off with a survey, especially considering their recent report of a record number of applications last year.
USAPaydayForever.com continued to express they felt it to be necessary to continue with their payday advance loans promotional campaign this year, regardless of any recent positive news. This is their reasoning for putting out a payday advance loans survey. Such a survey would be used to determine not only customer satisfaction. It would also be used to figure out why people are getting payday advance loans, and how they use them.
Concerning the news about Europeans stocks, as well as their new survey, USAPaydayForever.com has released a statement. This statement said, “We feel it’s important to find out how our customers feel about our payday advance loans. Not only that, but we think it’s important to find out their reasons for using our services, and how they use them. This is especially true whenever we hear reports of positive economic news anywhere in the world. We want to know what kinds of things our customers use our payday advance loans for, if they are using them properly, and how they view them in general.”
About USAPaydayForever.com – USAPaydayForever.com is an online company that helps consumers to find and obtain payday advance loans online. For more information about USAPaydayForever.com, visit their website at http://www.usapaydayforever.com
###
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435-714-0482
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IEMR Closes Convertible Note Financing With Related Party; Amends Terms of Convertible Note Financing

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Jan. 3, 2012) – IEMR Resources Inc. (TSX VENTURE:IRI) (“IEMR” or the “Company”) wishes to announce that further to its press release dated December 22, 2011, the Company has borrowed (the “Financing”) the principal sum of US$800,000 (the “Principal”) from, and issued an unsecured convertible note (the “Convertible Note”) in respect of such indebtedness to, International Energy and Mineral Resources Investment Company Limited (Hong Kong) (the “Lender”). The Convertible Note has a term of two years (the “Maturity Date”) from the closing date (the “Closing Date”). At the option of the Lender, the Convertible Note is convertible into common shares of the Company (“Common Shares”) at a price of US$0.10 per Common Share (the Company and the Lender increased the conversion price from US$0.07 to US$0.10 per Common Share), in whole or in part, at any time during the term of the Convertible Note. The Convertible Note is to bear interest on the outstanding Principal from the Closing Date to the Maturity Date at a rate of 6% per annum, payable on the earlier of the Maturity Date or the date of conversion of the Principal amount outstanding.
The Company requires the Financing to pay US$800,000 owing to Mosquito Consolidated Gold Mines Limited (“Mosquito”) on account of exploration work that Mosquito performed on the Pine Tree Property on behalf of the Company. The Company intends to conduct a private placement in 2012 to repay the Principal.
The Lender is a “Related Party” of the Company pursuant to the TSX Venture Exchange policies, as Mr. Hongxue Fu, President, Chief Executive Officer and a director of the Company, holds a controlling interest in the Lender. As such, the Financing constitutes a “Related Party Transaction” under the policies of the TSX Venture Exchange.
The Financing and the terms of the Convertible Note were unanimously approved by the Board of Directors of the Company, other than Hongxue Fu, who declared his interest in the Financing and abstained from voting with respect to the Financing and the documents and transactions related thereto. The directors eligible to vote with respect to the Financing believe that the terms of the Financing are in accordance with available market rates and is in the best interests of the Company. If the Principal is converted in full, Hongxue Fu and the Lender will increase their collective shareholdings in the Company from 10,371,357 common shares (currently approximately 40.50% of the issued and outstanding common shares) to 18,371,357 common shares (which would represent approximately 54.67% of the issued and outstanding common shares).
The Company is relying on exemptions from the formal valuation and minority approval requirements which are available to the Company.
The securities issued in the Financing are subject to a four month hold period in accordance with applicable Canadian securities laws.
About IEMR Resources Inc.
IEMR is a junior mining company listed on TSX Venture Exchange under the symbol “IRI”. The Company is directly tied to and has been formed from capital sources in China and Canada. IEMR is devoted to taking full advantage of its capital by participating in mineral and energy projects ranging from exploration, development, production, processing, smeltering and mineral trade with a long-term view. The Company’s emphasis is on the Chinese and Canadian markets utilizing the capital stemming from China and the resources and market of Canada to create a maximum return for shareholders. The Company’s investment priorities ranked in order will be copper, chromium, nickel, manganese, uranium, platinum silver, diamonds and molybdenum. Investment and or acquisitions in exploration projects, will be focused in chromium, manganese, uranium and potash. The Company has already formed alliances of cooperation with large smeltering steel, copper, lead, zinc and aluminum companies.
For further information on IEMR, please refer to the Company’s profile at www.sedar.com or the Company’s website at www.iemr.ca.
On behalf of the Board of Directors of IEMR RESOURCES INC.
Long Wang, Chief Financial Officer
Cautionary Statement Regarding Forward-Looking Statements
Certain statements made and information contained herein may constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities legislation. These statements relate to future events, including a proposed private placement, or the Company’s future performance. Often, but not always, forward-looking statements or information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “does not anticipate” or “believes” or variations of such words and phrases or words and phrases that state or indicate that certain actions, events or results “may”, “may have”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Although management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that a forward-looking statement or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These statements speak only as of the date of the news release and are expressly qualified, in their entirety, by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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/ CORRECTION – W. P. Carey & Co. Announces the Passing of Its Founder and Chairman Wm. Polk Carey

NEW YORK, NY–(Marketwire -01/02/12)- In the news release, “W. P. Carey & Co. Announces the Passing of Its Founder and Chairman Wm. Polk Carey,” issued earlier today by W. P. Carey & Co. LLC (NYSE: WPC – News), we are advised by the company that the sixth paragraph should mention “Arizona State University” rather than “University of Arizona” as originally issued. Complete corrected text follows.
W. P. Carey & Co. Announces the Passing of Its Founder and Chairman Wm. Polk Carey
NEW YORK, NY — January 2, 2012 — W. P. Carey & Co.’s Board of Directors sadly announces that company founder and Chairman Wm. Polk Carey died earlier today.
Mr. Carey, who was 81 years old, died of natural causes at Good Samaritan Medical Center in West Palm Beach, Florida. He was surrounded by family and friends, who had traveled to be with him.
Company Chief Executive Officer Trevor P. Bond stated, “Bill Carey was more than our founder and Chairman — he was the cultural leader of our company. All of us at W. P. Carey & Co. are mourning his loss. At the same time, we know that the best way for us to honor Bill is to continue to deliver outstanding results to our investors. It is up to us, as members of the team he put into place, to continue his life’s work and to ensure that the standards of excellence he established at W. P. Carey & Co. remain intact.”
Mr. Bond continued, “Bill was unwavering in his devotion to our shareholders, and he was especially proud that we have been able to provide increasing income to them, while providing our tenant companies with the capital that allowed them to grow their business and prosper. He felt deep gratitude toward our employees for enabling the firm to deliver such consistently outstanding results in good times and bad.”
Bill Carey was a pioneer in the field of corporate finance for nearly 60 years. Under his leadership, W. P. Carey Co. LLC provided hundreds of companies the capital they required to thrive and prosper. He was largely responsible for development of the sale-leaseback investment strategy for commercial real estate, and his firm remains a global leader in the industry.
In 1988, Mr. Carey established the W. P. Carey Foundation, which supports educational opportunities for young people through significant endowments presented to Arizona State University, Johns Hopkins University and the University of Maryland, as well as contributions to many other fine educational institutions. His brother, Francis J. Carey, said, “Bill was not only an insightful businessman but a wonderful brother and a good citizen. He always felt grateful that he was raised in a family committed to public service — and he worked passionately to uphold that tradition.” Mr. Carey was a direct descendent of President James K. Polk.
Photos and further information are available at http://www.wpcarey.com.
W. P. Carey & Co. LLCW. P. Carey & Co. LLC (NYSE: WPC – News) is an investment management company that provides long-term sale leaseback and build to suit financing for companies worldwide and manages a global investment portfolio of approximately $11.8 billion. Publicly traded on the New York Stock Exchange (WPC), W. P. Carey and its CPA® series of non-traded REITs help companies and private equity firms unlock capital tied up in real estate assets. The W. P. Carey Group’s investments are highly diversified, with approximately 284 long-term corporate tenants spanning 28 industries and 18 countries. http://www.wpcarey.com/

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Le Château enters into long-term financing arrangement

MONTREAL , January 2, 2012 /CNW Telbec/ – Le Château Inc. (TSX: CTU-A.TO – News) has entered into an agreement with a Corporation controlled by Herschel Segal , the founder of Le Château and a Director and majority shareholder of the Company, for long-term financing of $10 million . The financing is in the form of a four year, unsecured loan which bears interest at a rate of 7.5%, is repayable by way of equal monthly instalments of principal and interest, commencing in February 2013 , and may be prepaid without penalty. The purpose of the loan is for the financing of ongoing capital expenditures and other investment purposes. The loan is in addition to other financing sources the Company has in place or may have in place in the future. The loan will provide the Company with additional capital and operational flexibility as all of its existing credit and other facilities remain in place.
As at the date hereof, the Company has an operating line of credit totaling $20 million under which $2.4 million of letters of credit are currently outstanding. In addition, the Company has an import line of credit of $25 million , which includes a $1 million loan facility, under which $5.3 million of letters of credit are currently outstanding. The Company uses such facilities and lines of credit from time to time in the ordinary course of its business.
The loan from Mr. Segal was approved by the Board of Directors of the Company (with Mr. Segal and Jane Segal abstaining from the vote) and is exempt from the requirements to obtain an independent valuation or minority approval under the related party transaction rules of applicable securities legislation.
Profile
Le Château is a leading Canadian brand in specialty retailing, offering a broad array of contemporary fashion apparel, accessories and footwear for style-conscious women and men. The Le Château brand is synonymous with ageless fashion at accessible prices and is sold exclusively through the Company’s 244 retail locations, of which 242 are located in Canada . The Company’s outlets are primarily found in major urban shopping malls, as well as street-front locations with high pedestrian traffic. In addition, the Company has 7 stores under license in the Middle East . Le Château’s web-based marketing is further broadening the Company’s customer base among Internet shoppers in both Canada and the United States . With its 52-year tradition of vertical integration, emphasizing a design and manufacturing approach to retailing, Le Château is unique among Canadian fashion merchants.
Forward-Looking Statements
This news release may contain forward-looking statements relating to the Company and/or the environment in which it operates that are based on the Company’s expectations, estimates and forecasts. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and/or are beyond the Company’s control. A number of factors may cause actual outcomes and results to differ materially from those expressed. These factors include those set forth in other public filings of the Company. Therefore, readers should not place undue reliance on these forward-looking statements. In addition, these forward-looking statements speak only as of the date made and the Company disavows any intention or obligation to update or revise any such statements as a result of any event, circumstance or otherwise except to the extent required under applicable securities law.
Factors which could cause actual results or events to differ materially from current expectations include, among other things: the ability of the Company to successfully implement its business initiatives and whether such business initiatives will yield the expected benefits; competitive conditions in the businesses in which the Company participates; changes in consumer spending; general economic conditions and normal business uncertainty; customer preferences towards product offerings; seasonal weather patterns; fluctuations in foreign currency exchange rates; changes in the Company’s relationship with its suppliers; interest rate fluctuations and other changes in borrowing costs; and changes in laws, rules and regulations applicable to the Company.

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New Payday Loans Online Application Instructions Announced By USAPaydayForever.com

New Instructions For Applying For Payday Loans Online Have Been Announced By USAPaydayForevr.com. This News Comes After Reports Of The Stock Market Ending The Year Flat
(PRWEB) December 31, 2011
It has been reported by a Yahoo financial article that the stock market has ended the year 2011 at practically the same level it started at the beginning of the year. This news release stated, “In the final tally, despite big climbs and falls, unexpected blows and surprising triumphs, all the hullabaloo proved for naught. On Friday, the Standard & Poor’s 500 index closed at 1,257.60. That’s exactly 0.04 point below where it started the year.” USAPaydayForever.com has said they think this means that the economy in the United States of America has not fully recovered. They have to write new payday loans online application instructions for consumers who need to fill out the form to obtain payday loans online.
A statement has bee released by USAPaydayForever.com concerning the stock new from Yahoo, as well as their newer instructions for filling out applications for payday loans online application. USAPaydayForever.com says in this statement, “We do not think the economy is done with its struggles. We think that the flat stocks are an indication of that. We feel that this mean our payday loans online promotional efforts still need to be adhered to. An easier to use application for our payday loans online is just one piece of this puzzle. We want our customers to more easily fill out our payday loans online application forms. Our newest website copywriter is going to go ahead and create these new instructions, just as others have done with past iterations.”
In other news from USAPaydayForever.com, they have reported yet another milestone with applications for payday loans online. They have said that they will release a statement about this report within a few days. Their promotional campaign is their effort to educate customers about using payday loans online, how to get them, and how to be responsible with them.
About USAPaydayForever.com – USAPaydayForever.com is an online company that helps consumers to find and obtain payday loans online. For more information about USAPaydayForever.com, please visit http://www.usapaydayforever.com.
###
Lehi Drew
http://articlesearchenginemarketing.com/
435-714-0482
Email Information

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Analysts Strengthen Bank of North Dakota Financial Rating

• Bank of North Dakota
• The Bank of North Dakota’s headquarters sits in west Bismarck, N.D. The bank recently received an improved rating from the Standard & Poor’s ratings agency, which its president says will make it better able to assist private banks with loans and government agencies with financing public works projects. (AP Photo/Dale Wetzel)

The Standard & Poor’s ratings agency has upgraded its ratings of the state-owned bank’s business, including assessments of its conservative management and the likelihood that the loans it makes will be repaid. In one category, the rating increased from A+ to AA-, the agency said.
North Dakota’s state treasury, fattened by oil tax collections, also has not had to rely on bank profits in recent years to help pay for education, human services and other state programs. That has allowed the bank to increase its financial reserves and strengthen its ability to make loans, the report said.
Bank President Eric Hardmeyer said the independent review is done each year at the bank’s request.
“I’m sure that they’re looking at North Dakota, looking at our economy, looking at how things are,” Hardmeyer said. “We’re in a stronger position than we’ve ever been.”
North Dakota’s private banks often ask the Bank of North Dakota to provide a slice of the cash they lend to farmers, ranchers and commercial customers. This allows the private banks to lessen their risk and take on larger economic development projects.
The bank provides favorable loan terms to farmers and ranchers who are getting started in the business, and money for building irrigation networks and diversifying farming operations.
It offers interest rate subsidies for business expansions, loans to medical providers for technology upgrades and disaster loans for North Dakotans whose homes have been damaged or destroyed by flooding.
North Dakota law guarantees the bank’s deposits, which are not insured by the federal government. Most of the deposits are funds the bank holds for state agencies.
Although North Dakota guarantees the deposits of the state-owned bank, it does not extend similar support to its loans, letters of credit and other bank transactions. That prompted the move for a separate review of the bank’s reserves, earnings and management, Hardmeyer said.
He said the improved Standard & Poor’s rating would be useful for the bank’s letters of credit, which it offers to private banks and government agencies to guarantee that a loan or bond issue will be paid off.
In a government agency’s case, a Bank of North Dakota letter of credit, backed by the strong rating, will help lower the interest costs for building new streets, sewers, water lines and other public works, he said.
“When people look at those letters of credit and see the Bank of North Dakota is behind it, with at least an ‘A’ rating … that is what they are looking for,” Hardmeyer said. “The better your rating, the lower the interest rate is going to be on a bond issue that is being sold to the market with a letter of credit behind it.”
Rick Clayburgh, director of the North Dakota Bankers Association, and Donald Forsberg, director of the Independent Community Banks of North Dakota, said the improved rating was welcome.
“It’s positive news for the state and the taxpayers,” Clayburgh said.
Hardmeyer said the Standard & Poor’s review looked separately at the safety of the Bank of North Dakota’s deposits and how the bank is managed.
“We rate as strong as some of the other regional banks, and national banks, for that matter,” he said of the report. “We’re pretty pleased with it.”
Copyright 2011 The Associated Press.

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Ziegler Closes $28 Million MRC Crestview Financing

CHICAGO, IL–(Marketwire -12/14/11)- Ziegler, a specialty investment bank, is pleased to announce the successful closing of a $28,295,000 non-rated bond issue for MRC Crestview. MRC Crestview, d/b/a Crestview Retirement Community, is located on 14 acres in Bryan, Texas. Ziegler served as sole manager for the Series 2011 Bonds.
MRC Crestview is a Texas non-profit corporation originally formed in 1962. In 1970, Crestview became part of Methodist Retirement Communities (MRC), a Texas non-profit system that provides management and related support services to MRC Crestview and other affiliated entities. MRC ranks #88 on the LeadingAge Ziegler 100, a list of the largest not-for-profit senior living providers in the nation.
Due to the aging of the existing community, MRC Crestview engaged Greystone Communities to assist in providing development services towards implementing a repositioning of the campus in a two-phased approach. The improvements which constituted Phase I, which was funded with a Ziegler underwritten Series 2010 bond issue, consisted of the construction of an assisted living center with 48 assisted living suites and 18 memory support suites, as well as a health center consisting of 48 skilled nursing beds and related common areas undertaken on seven acres of undeveloped land.
Proceeds of the Series 2011 Bonds will be used to fund Phase II of the redevelopment plan consisting of demolishing the existing community and constructing 92-entrance fee based independent living units and additional common areas for the residents. The new independent living units are 100% pre-sold with a waiting list of more than 40 persons at the time of pricing of the Series 2011 Bonds. Additionally, bond proceeds will be used to fund debt service reserve funds for the Series 2011 Bonds, fund capitalized interest for 22 months, and pay a portion of the costs of issuance.
The Series 2011 Bonds consist of $11,500,000 in temporary debt to be redeemed from initial entrance fees after establishing reserves and $16,795,000 in permanent debt that will amortize with the Series 2010 Bonds to provide aggregate level annual debt service. As with the Series 2010 Bonds, there will be a funded liquidity support agreement in the amount of $1,000,000.
Ziegler is one of the nation’s leading underwriters of financing for non-profit senior living providers Ziegler offering investment banking, financial risk management, merger and acquisition services, investment management, seed capital, FHA/HUD, capital and strategic planning as well as senior living research, education, and communication. Rich Scanlon, Managing Director in Ziegler’s Senior Living practice, commented, “Crestview has had a 40 year reputation for providing quality senior services in the Bryan/College Station market. The influence of a new management team at MRC is clearly seen on this complex repositioning which will improve the quality and breadth of services that MRC will be able to provide in that market area.”
For further information on the structure and use of this issue, please see the Official Statement located on the Electronic Municipal Market Access system’s Document Archive.
For more information about Ziegler, please visit us at www.Ziegler.com.
About Ziegler:
The Ziegler Companies, Inc. (Pinksheets: ZGCO.PK – News) together with its affiliates (Ziegler) is a specialty investment bank with unique expertise in complex credit structures and advisory services. Nationally, Ziegler is ranked as one of the leading investment banking firms in its specialty sectors of healthcare, senior living, religion and education finance, as well as corporate finance and FHA/HUD. Headquartered in Chicago, IL with regional and branch offices throughout the U.S., Ziegler creates tailored financial solutions including bond financing, advisory, private placement, seed capital, M&A, risk and asset management. Ziegler serves institutional and individual investors through its wealth management and capital markets distribution channels.
Certain comments in this news release represent forward-looking statements made pursuant to the provisions of the Private Securities Litigation Reform Act of 1995. This client’s experience may not be representative of the experience of other clients, nor is it indicative of future performance or success. The forward-looking statements are subject to a number of risks and uncertainties, in particular, the overall financial health of the securities industry, the strength of the healthcare sector of the U.S. economy and the municipal securities marketplace, the ability of the Company to underwrite and distribute securities, the market value of mutual fund portfolios and separate account portfolios advised by the Company, the volume of sales by its retail brokers, the outcome of pending litigation, and the ability to attract and retain qualified employees.
This communication does not constitute an offer to buy these securities. The offering is made only by the Official Statement and through an appropriately registered representative. The Series 2011 Bonds may not be appropriate for all investors. Market value and/or accrued interest will fluctuate during the period held, and, if sold prior to maturity, the yield received may be more or less than the yield calculated at the time of purchase. Discounted yields herein are gross yields to maturity. Discounted bonds may be subject to capital gains tax, rates of which will vary, so investors should consult their own tax advisor with regard to their personal tax situation. Interest on municipal bonds may be exempt from federal income tax but may be subject to tax for residents of certain states. For bonds designated AMT, taxes may exist for certain investors. Ziegler will sell these bonds on a principal basis.
The corporation or its officers, directors, stockholders, or members of their families may at times have a position in the securities mentioned herein and may make purchases or sales of these securities. Not all call or put information is identified in the description above. Please be sure to discuss any special features with your Financial Advisor before deciding whether to invest in these securities.

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Ziegler Closes $8M Financing for the YMCA in Pabst Farms, WI

CHICAGO, IL–(Marketwire -12/05/11)- Ziegler, a specialty investment banking firm, is pleased to announce the successful closing of Young Men’s Christian Association (YMCA) at Pabst Farms, Inc. in Oconomowoc, Wisconsin. The net proceeds of the 2011 Series Bonds will be used to pay four outstanding bank notes that were originally used for the purchase of the land and construction of the Pabst Farms facility.
The YMCA was originally founded in 1926 as the YMCA of Waukesha County. The YMCA built and began operating its first facility in 1965 at North Silver Lake Street in Oconomowoc. It operated at that location from 1965 to 2002. In 2003 the YMCA opened its new facilities on 23 acres of land at 1750 Valley Road in Oconomowoc. The two level, 115,000 square foot facility is located within the 1,600-acre residential subdivision commonly referred to as “Pabst Farms,” which acts as an anchor to present and future growth for the Oconomowoc community.
Dave Schlosser, Managing Director at Ziegler, stated, “Management for the YMCA initially had considered refinancing the outstanding bank debt with tax-exempt bonds, however they were drawn to our taxable bond proposal due to the simplicity of the structure. With the Ziegler taxable bond structure, there was no call protection on the long-term bonds and much fewer compliance and legal issues involved. The end result was a more flexible long-term structure that met the needs of the organization better than the usual cookie cutter tax-exempt solution.”
Since our founding in 1902, Ziegler has become a recognized leader in providing mortgages, loans, and other financing solutions to not-for-profit organizations nationwide. Ziegler is privileged to serve America’s large and small not-for-profits as well as many religious organizations, schools, colleges, and universities.
For further information on the structure and use of this issue, please contact Ziegler at (800) 366 -8899 for a copy of the Official Statement.
For more information about Ziegler and please visit us at www.Ziegler.com.
About Ziegler:The Ziegler Companies, Inc. (Pinksheets: ZGCO.PK – News) together with its affiliates (Ziegler) is a specialty investment bank with unique expertise in complex credit structures and advisory services. Nationally, Ziegler is ranked as one of the leading investment banking firms in its specialty sectors of healthcare, senior living, religion and education finance, as well as corporate finance and FHA/HUD. Headquartered in Chicago, IL with regional and branch offices throughout the U.S., Ziegler creates tailored financial solutions including bond financing, advisory, private placement, seed capital, M&A, risk and asset management. Ziegler serves institutional and individual investors through its wealth management and capital markets distribution channels.
Certain comments in this news release represent forward-looking statements made pursuant to the provisions of the Private Securities Litigation Reform Act of 1995. This client’s experience may not be representative of the experience of other clients, nor is it indicative of future performance or success. The forward-looking statements are subject to a number of risks and uncertainties, in particular, the overall financial health of the securities industry, the strength of the healthcare sector of the U.S. economy and the municipal securities marketplace, the ability of the Company to underwrite and distribute securities, the market value of mutual fund portfolios and separate account portfolios advised by the Company, the volume of sales by its retail brokers, the outcome of pending litigation, and the ability to attract and retain qualified employees
This communication does not constitute an offer to buy these securities. The offering is made only by the Official Statement and through an appropriately registered representative. The Series 2011 Bonds may not be appropriate for all investors. Market value and/or accrued interest will fluctuate during the period held, and, if sold prior to maturity, the yield received may be more or less than the yield calculated at the time of purchase. Discounted yields herein are gross yields to maturity. Discounted bonds may be subject to capital gains tax, rates of which will vary, so investors should consult their own tax advisor with regard to their personal tax situation. For bonds designated AMT, taxes may exist for certain investors. Ziegler will sell these bonds on a principal basis.
The corporation or its officers, directors, stockholders, or members of their families may at times have a position in the securities mentioned herein and may make purchases or sales of these securities. Not all call or put information is identified in the description above. Please be sure to discuss any special features with your Financial Advisor before deciding whether to invest in these securities.

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