MESQUITE, NEV., September 28 /CNW/ - ElaCap, LLC, a Nevada limited
liability company ("ElaCap"), and Elamex, S.A. de C.V., a Mexican company
(Pink Sheets: ELAMF) (non-SEC-reporting) ("Elamex"), announced today the
results of tender offer to purchase any and all shares of Class I common stock
of Elamex. The initial offering period expired at 12:00 midnight, New York
City time, on Thursday, September 27, 2007. All validly tendered shares have
been accepted for payment in accordance with the terms of the offer. ElaCap
also announced that a subsequent offering period for all remaining shares of
Elamex has been initiated.
ElaCap has accepted for purchase 2,289,483 shares of Elamex at $2.00 per
share. Such shares were validly tendered and not withdrawn. The 2,289,483
shares represent 30.516% of Class I common stock of Elamex and 78.893% of the
approximately 2,902,000 outstanding shares held by holders not associated with
ElaCap. As set forth in the offer, tendered shares may not now be withdrawn.
ElaCap has also initiated a subsequent offering period for all remaining
untendered shares of Elamex. This subsequent offering period will expire at
12:00 midnight, New York City time, on Thursday, October 11, 2007. ElaCap will
continue to pay $2.00 per share. The procedures for tendering shares are the
same as those described in the Offer to Purchase, except that (i) the
guaranteed delivery procedures may not be used during the subsequent offering
period, and (ii) shares tendered during the subsequent offering period may not
be withdrawn. ElaCap will promptly purchase and pay for any shares tendered
during the subsequent offering period.
ElaCap is a wholly-owned subsidiary of Silver Eagle Oil, Inc., a
privately held refiner of crude oil to gasoline, diesel, and other products.
Elamex is a diversified manufacturing services company with food and real
estate holdings in Mexico and the United States.
For further information:
For further information: For further information, please contact the
Dealer Manager: Alpine Securities Corporation Attn: Ryan Spencer or Tyler
Floor Banks and Brokers call: (801) 355-5588 All others call Toll-Free: (800)