Exhibit 99.1
Nortia Capital Partners, Inc. Signs Definitive Agreement
ATLANTA, July 19, 2005 (BUSINESS WIRE) -- Nortia Capital
Partners, Inc., (OTC:NCPN) is pleased to announce that it has
entered into a definitive agreement to acquire a minority equity
stake in Holley Communications Investment, Inc. (Holley
Communications). The definitive agreement contains
representations and warranties and terms and conditions customary
for transactions of this nature and magnitude.
The proposed acquisition of Holley Communications will be
effected through an acquisition by a wholly-owned subsidiary of
Nortia, whereby the Nortia subsidiary will issue 28,500,000
shares of common stock, equivalent to 95% of Nortia subsidiary's
issued and outstanding common stock, to Holley Communications
Canada, Inc., the parent and sole shareholder of Holley
Communications, in exchange for all of the outstanding equity
interest of Holley Communications. Following completion of the
share exchange between Nortia subsidiary and Holley
Communications Canada, Inc., Nortia will distribute substantially
all of its shares in Nortia subsidiary to its stockholders.
Holley Communications is an experienced, market-oriented
developer and provider of wireless communication products
including handsets and solutions, as well as terminal and system
devices. Holley Communications currently focuses on the Chinese
mobile telecommunications market. With a population of 1.3
billion, and 325 million mobile subscribers as of October 2004,
Holly believes there is substantial continued market growth
potential in China, particularly for the mass market at the
bottom of the pyramid of addressable subscribers. According to
the China Ministry of Information Industry, the number of mobile
subscribers in China is projected to reach 398 million, 475
million, 544 million, 608 million, 669 million, and 730 million
during the years between 2005 and 2010. The vast mobile wireless
market in China provides ample and continued opportunities for
cost-effective growth in mobile terminals, low cost handsets, and
wireless telemetry modules. The continued rapid growth in
wireless subscribers and the advent of 3G mobile services will
drive increasing demand for optimized and differentiated mobile
solutions of WCDMA, TD-SCDMA and CDMA2000. With core TD-SCDMA
technology and state-of-the-art software modules such as push-to-
talk, Holley Communications is in a unique position to offer a
portfolio of module and handset products. Holley Communications
is known as one of the founding members of TD-SCDMA Industry
Alliance, which marked the entering of fast development phase of
TD-SCDMA standard.
William J. Bosso, Chief Executive Officer of Nortia, commented,
"We are very pleased with the progress that has been made in our
association with Holley Communications. The signing of this
Definitive Agreement is a major mile-stone with regards executing
the business and financing goals of Holley Communications. As
stated in an earlier press release, we continue to believe that
the management of Holley Communications has developed a strategic
business model for future growth within its market sector. We
are pleased to be in a position to assist Holley Communications
with its growth endeavors by providing its management with
capital and advisory services in the areas of Corporate Finance
and Capital Markets assistance."
About Holley Communications Investment, Inc.
Holley Communications states that, for its 2004 fiscal year, it
sales were approximately $21.8 million, with an EBITDA of
approximately $265 thousand and that it is on track to reach its
budgeted goals for 2005 of $94 million in sales and $6.1 million
in EBITDA. The financial statements for Holley Communications
are in the process of being audited and such audit is a condition
of closing.
Holley Communications is a subsidiary of Holley Communications
Canada, Inc., a privately owned holding company with operations
world wide. Holley Communications Canada, Inc. achieved sales of
over one billion dollars for the year ending 2004.
About Nortia Capital Partners, Inc.
Nortia Capital Partners, Inc. is an Atlanta-based merchant
banking firm that operates as a Business Development Company,
pursuant to Section 54 of the Investment Company Act of 1940.
Nortia was established to provide capital and advisory services
for management buyouts, recapitalizations, and the growth and
capital needs of emerging growth companies. Nortia intends to
make yearly distributions to its shareholders of at least 90% of
its taxable investment income defined as net investment income
from interest, dividends and net short term capital gains.
Additional information can be found by visiting its website at
www.nortiacapital.com.
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Forward-Looking Statements:
The Private Securities Litigation Reform Act of 1995 provides a
safe harbor for forward-looking statements made on behalf of the
Company and its subsidiaries. All such forward-looking
statements are, by necessity, only estimates of future results
and actual results achieved by the Company may differ materially
from these statements due to a number of factors. Any forward-
looking statements speak only as of the date made. Statements
made in this document that are not purely historical are forward-
looking statements, including any statements as to beliefs,
plans, expectations, or intentions regarding the future. Risk
factors that may cause results to differ from projections
include, without limitation, loss of suppliers, loss of
customers, inadequate capital, competition, loss of key
executives, declining prices, and other economic factors relating
to its investee companies and inadequate capital, competition,
loss of key executives, and other economic factors related to its
own operations. Nortia assumes no obligations to update these
forward-looking statements to reflect actual results, changes in
assumptions or changes in other factors affecting such
statements. You should independently investigate and fully
understand all risks before making investment decisions.
SOURCE: Nortia Capital Partners, Inc.
CONTACT: Nortia Capital Partners Inc., Atlanta
William J. Bosso, 770-777-6795
wbosso@nortiacapital.com
www.nortiacapital.com
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or
Investors:
Friedland Capital Inc.
Dara Podber-Albright, 201-420-7437
dara@friedlandcapital.com
www.friedlandcapital.com
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