J.G. Wentworth Annuity Purchase Program Reaches Industry Milestone (Stock Trading)
Friday, June 30th, 2006J.G. Wentworth Annuity Purchase Program Reaches Industry Milestone
BRYN MAWR, Pa., June 30, 2006 (PRIMEZONE) — J.G. Wentworth, a specialty finance company, today announced the partnership with its 100th Independent Marketing Organization (IMO). As a result of a long-term effort, J.G. Wentworth has developed strategic partnerships with 100 IMOs in order to educate consumers, financial advisors, brokers and agents on the secondary market for annuities. J.G. Wentworth is establishing distribution channels through IMOs in order to provide product information for investment professionals who advise clients on annuities.
Automated Interiors, LLC Benefits from Housing Boom
ATLANTA, June 30, 2006 (PRIMEZONE) — Winston Johnson, Chairman and Chief Executive Officer of WinSonic Digital Media Group, Ltd. (Pink Sheets:WDMG), announced impressive growth over the past five months in Automated Interiors'clientele, including prominent developers from the Atlanta area."Technology is the driving force that motivates residents to enhance their digital lifestyles by installing full home automation,"stated Mr. Bill Mann, Co-Founder and President/CEO of Automated Interiors, Inc.
HCC to Acquire Novia Underwriters
HOUSTON, June 30, 2006 (PRIMEZONE) — HCC Insurance Holdings, Inc. (NYSE:HCC) announced today that the Company had reached an agreement to acquire Novia Underwriters, Inc. for an undisclosed consideration. The transaction is expected to close shortly.
First Business Financial Services Announces Management Succession Plan
MADISON, Wis., June 30, 2006 (PRIMEZONE) — The Board of Directors of First Business Financial Services, Inc. today announced the retirement of Charles Thompson as Chairman of the Board effective July 17, 2006. Jerry Smith has been named the new Chairman and intends to retire as Chief Executive Officer effective no later than January 2, 2007. Corey Chambas will succeed Smith as CEO. Smith was a founder of the company in 1990 and has served as its CEO since inception. Chambas joined the company in 1993 and currently serves as President and Chief Operating Officer.
Acura Pharmaceuticals, Inc. Secures Bridge Funding
PALATINE, Ill., June 30, 2006 (PRIMEZONE) — Acura Pharmaceuticals, Inc. (OTCBB:ACUR) today announced it has secured gross proceeds of $335,000 under a term loan agreement (the"Loan") with Essex Woodlands Health Ventures V, L.P., Care Capital Investments II, L.P., Care Capital Offshore Investments II, L.P., Galen Partners III, L.P., Galen Partners International III, L.P. and Galen Employee Fund III, L.P (collectively the"Bridge Lenders"). The Loan matures on September 1, 2006, bears an annual interest rate of 10%, is secured by a lien on all assets of the Company and its subsidiary, and is senior to all other Company debt. The Loan permits the funding of additional cash amounts subject to agreement by the Company and the Bridge Lenders. No assurance can be given, however, that any additional funding will be advanced to the Company under the terms of the Loan.
Hydro Reduces 2006 Oil and Gas Production Target
OSLO, Norway, June 30, 2006 (PRIMEZONE) — Norsk Hydro ASA has revised its oil and gas production target for 2006 down with about 5 percent from 615,000 to 585,000 barrels of oil equivalents per day (boed). The reduction of 30,000 boed is equally divided between Hydro's Norwegian and international portfolio and is mainly due to unforeseen events in Norway, Canada and U.S. Gulf of Mexico, and somewhat lower gas export from Norway than planned.
