CLEVELAND, Oct. 15, 2010 (GLOBE NEWSWIRE) -- SearchPath HCS, Inc. (Pink Sheets:SRCP), a leading Human Capital Solutions provider, is pleased to announce that the Company has achieved regulatory compliance for its previously announced dividend and warrant package for its shareholders.
Each shareholder will receive a "unit" consisting of one share of restricted stock and one warrant to purchase an additional share of restricted stock with a strike price of one-cent ($0.01), for each 100 shares held as of the record date of October 18, 2010. The payment date for the unit will be October 30, 2010.
In concert with its commitment to build and maintain shareholder value as well as assist in the overall growth of SPI's corporate franchise program, the Company's Board of Directors has approved this as the first in a series of up to six such dividends. The terms of future dividend units will be decided upon at the discretion of management.
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About Search Path HCS, Inc.
SearchPath HCS, Inc. is a rapidly growing human capital solutions firm and the parent company of SearchPath International, Inc. (SPI) . SPI is a U.S.-based talent acquisition professional services firm, with 65 franchises nationwide. Founded in 2005, SPI's goal is to become the premier, vertically-integrated provider of talent acquisition professional services in the world. In addition to being a stand-alone talent and acquisition services firm, SPI is also a franchisor of its business that has redefined the way clients do business with recruiters by implementing a client-centric approach that combines proven industry best practices and revolutionary concepts.
Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of1934. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of the Company and SPI set forth herein and those preceded by or that include the words ``believes,'' ``expects,'' ``given,'' ``targets,'' ``intends,'' ``anticipates,'' ``plans,'' ``projects,'' ``forecasts'' or similar expressions, are "forward-looking statements". Although the Company's management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. The Company assumes no obligation to update any of the information contained or referenced in this press release.
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