Haz Holdings in Negotiations to Acquire Four Properties in Midwest
FEBRUARY 8, 2007. Oncology Med, Inc. (OTC: ONCM) announced that its merger partner, Haz Holdings, Inc., a Delaware corporation, is in negotiations to acquire four full-service hotels throughout the Midwest, with a collective total of over 500 rooms.
The total purchase price for the properties is expected to be approximately $10 million dollars. The Company and Haz Holdings are currently in the process of securing the financing for these acquisitions.
Karim Bhanji, CEO of Haz Holdings Inc., noted, 'These properties are located in markets ideal for giving the Company a greater visibility in the Midwest.'
The Company announced on February 5, 2007 that it has entered into an agreement to merge a wholly-owned subsidiary of the Company into Haz Holdings, Inc. The Company expects the merger to be completed sometime in March 2007.
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