CHICAGO, IL, Feb. 5 /CNW/ - Talon Merchant Capital, LLC ("Talon") and its
affiliate, TCP Co-Investment Partners, LLC ("TCP") announced the completion of
the private placement and sale transactions with Liquidation World Inc.
("LQW"), both of which were previously announced on January 27, 2009.
Collectively, Talon and TCP acquired ownership of 7,600,000 common shares (the
"Common Shares") of LQW for an aggregate purchase price of $4,750,000 in cash
and the sale by Talon to LQW of Talon's U.S. wholesale business valued at
approximately $2,850,000, representing a value of $1.00 per Common Shares. As
a result of these transactions, Talon owns 6,400,000 Common Shares,
representing approximately 40.38% of the issued and outstanding Common Shares
and TCP owns 1,200,000 Common Shares, representing approximately 7.57% of the
issued and outstanding Common Shares.
Talon and TCP have each acquired the Common Shares for investment
purposes only, but depending on market and other conditions, Talon and TCP may
each, from time to time, in the future, acquire or dispose of securities of
LQW through market transactions, private agreements or otherwise, in each case
in accordance with applicable securities laws.
Talon's is located at 1 North Franklin, Suite 900, Chicago, IL, USA
For further information:
For further information: Kellie Walsh, (914) 315-6072,