Business
The Mint Leasing, Inc., (MLES) Announces Merger With Sunset Brands, Inc. dba Sunset Capital Assets (SSBN)
The Mint Leasing, Inc., (MLES) Announces Merger With Sunset Brands, Inc. dba Sunset Capital Assets (SSBN).
About this update from Sunset Capital Assets, Inc.
[{"type":"text","content":"\n \n \n The Mint Leasing, Inc., (MLES) Announces Merger With Sunset Brands, Inc. dba Sunset Capital Assets (SSBN)\n \n \nThe Mint Leasing, Inc., (MLES) Announces Merger With Sunset Brands, Inc. dba Sunset Capital Assets (SSBN)\n \n HOUSTON, TX--(Marketwired - Sep 24, 2014) - The Mint Leasing, Inc. (\"Company or Mint\") (OTCQB: MLES), a Nevada corporation, trading on the Over the Counter (OTC) markets \"Bulletin Board\" as MLES, announced today that the Company has completed a share exchange (\"the merger\") to sell a 50% interest in the Company to Sunset Brands, Inc. dba Sunset Capital Assets (OTC: SSBN), a Nevada corporation, trading Over the Counter (OTC) markets \"Pink Sheets\" as SSBN (\"Sunset\"). Mint is based in Houston, Texas and owns and operates an auto finance company specializing in both financing and leasing automobiles. Mint will now become the \"Auto Finance entity\" that will manage the origination, and servicing of all of Sunset's focus on the auto finance niche, including strategic purchases of existing companies.\n Sunset Capital Assets, Inc. is a diversified financial services firm focusing on acquisition and investment in insured banks, mortgage companies, real estate, title insurance, insurance, auto financing, commercial financing, investment banking, and management consulting service primarily in the Southeast United States.\n Prior to the merger, Mint had Asset of approximately $20,000.000 and projected annual revenues of approximately $8,200,000.00 for 2014. Sunset has transferred shares in a wholly owned special purpose entity which owns assets recently valued in excess of $108,000,000.00. Sunset received 62,000,000 in Class A common shares in exchange for the 99,000 participating member units of the special purpose entity. The assets will add balance sheet value that will be leveraged to obtain a wholesale credit facility that will allow Mint to originate and service new subprime auto receivables. This credit facility will allow Mint's annual revenues to grow to a projected $30,000,000+ over the next 24 months.\n As stated above, Mint will now be the lead entity for Sunset's entrance into the auto finance space. The Letter of Intent that was previously announced in March 2014 that announced Sunset's intention to purchase Motors Acceptance Corporation, et al (MAC) wi...