Dallas, TX March 31, 2015 (PR NEWSWIRE) – Lighthouse Petroleum, Inc. ("Lighthouse") (OTC Markets: LHPT), a growth oriented holdings company entering into the healthcare sector, announces that management believes today marks a successful day and first step in building the company’s success for the future. Lighthouse has closed on the finalized terms of the acquisition of Supurva Healthcare Group, LLC, ("Supurva"), a private healthcare company located in Dallas, TX. The Share Exchange Agreement is part of a planned transformation of Lighthouse whereby Lighthouse will continue its pursuit into the healthcare sector.
The members of Supurva have received 67,500 shares of Lighthouse Series D Preferred shares in exchange for 100% membership interest of Supurva. The Series D Preferred Shares are subject to mandatory conversion into common shares of Lighthouse at a rate of 1% of the outstanding shares for each 1,000 preferred shares. Gerard Danos will serve as Chairman and CEO of Supurva Healthcare Group, Inc. and D. Lee Rodger will serve as CEO of Supurva On-Site Solutions, a wholly owned subsidiary of Supurva Healthcare Group that is currently providing on-site dental services at healthcare facilities in Texas. In conjunction with the Share Exchange Agreement, Lighthouse intends to change its corporate name to Supurva Healthcare Group, Inc. and to request a new symbol from FINRA.
"We are encouraged by the strategic possibilities this transaction presents," said Gerard Danos, Chairman and CEO of Supurva Healthcare Group, Inc. "We intend to continue to grow Supurva by expanding the current business of Supurva’s subsidiary, Supurva On-Site Solutions, and through mergers and acquisitions of other healthcare companies focusing on long term care.
About Supurva Healthcare Group, Inc.
Supurva Healthcare Group, Inc., a Texas Corporation, is an independent holdings company based in Dallas, TX. Supurva On-Site Solutions provides on-site healthcare for acute, subacute, and nursing facility residents / patients; specializing in dentistry, podiatry, optometry, and wound care.
Forward Looking Statement
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks. Supurva Healthcare Group, Inc. is a holdings company with limited experience in the healthcare industry. At the time of this release Supurva Healthcare Group, Inc. lacks the financial capabilities to meet its financial obligations and its management expects to dilute the company's shares to raise the necessary operating capital. Based upon industry standards Supurva would be considered highly speculative and lacks any competitive advantage over its competition. Additional risks you should consider are that this list is limited and additional risk not mentioned may apply: failure to meet Supurva's financial and contractual obligations, Supurva's managerial errors made based upon the Company's limited experience and knowledge of the industry, commodity risk, acts of God and regulatory risk. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements.
Contact:
Gerard Danos, Chairman & CEO
gdanos@lighthousepetroleum.com
985-237-3701