First Pactrust Bancorp Inc. (Nasdaq:FPTB) announced that it has entered into a definitive agreement to purchase all of the issued and outstanding shares of Gateway Bancorp, the privately held holding company for Gateway Business Bank, Cerritos, California. As part of the transaction, First PacTrust will acquire Mission Hills Mortgage Bankers, which was founded in 1969 and is an operating division of Gateway Business Bank. Under the terms of the agreement, shareholders of Gateway Bancorp will receive an aggregate consideration of up to $17 million in cash (subject to certain holdback provisions) upon completion of the transaction.
First PacTrust Bancorp, Inc. operates as the holding company for the Pacific Trust Bank, which provides various financial services primarily in San Diego and Riverside Counties, California.
Siga Resources Inc (SGAE)
Gold has many industrial uses, but its main historical uses have been for jewellery and money - both are a store of value. Gold has been used as a store of value for at least 5000 years. Gold is measured and prices are quoted in Troy Ounces and Grams. As an example of gold’s ability to store value, 2000 years ago one ounce of gold would buy a fine man’s outfit. Today one ounce of gold will still buy a good quality man’s wool suit with enough left over to buy a few shirts, a tie, some underwear, socks, a pair of shoes and a belt.
Siga Resources Inc, founded in 2007, is based in South Lake Tahoe, California. Siga is a mineral resource exploration and development company. Siga’s strategy targets properties that have the potential for near term production and early positive cash flow. Siga’s general geographical interest is North and South America.
Siga Resources, Inc. announced that Siga has come to an agreement with Big Rock Resources Ltd. whereby the two companies will develop the Lucky Thirteen gold placer claim under a 50/50 joint venture.
Big Rock Resources Ltd. (1BR.F, ISIN CA0894851066, WKN A1JJYB www.bigrockresources.com) has agreed to fund the initial evaluation program for $400,000 USD, and provide funding up to $8.5 million USD to place the property in full production.
The partners will operate Lucky Thirteen under a Joint Venture company, Lucky 13 Mining Company Ltd., owned 50/50 by Siga and Big Rock. Lucky 13 Mining Company Ltd. will be the operator.
Siga has already secured the initial operating permits for the necessary rail crossing and initial test mining. Siga is currently constructing the washing and initial process plant to be used in the evaluation program.
Siga’s President Ed Morrow said that “Siga is most pleased to have Big Rock Resources as a Joint Venture Partner. The combined power of the partnership will facilitate the rapid development of a production operation at Lucky thirteen.”
For more information about Siga Resources, Inc. visit : http://sigaresourcesinc.com
Power3 Medical Products Inc. (PWRM)
Power3 Medical Products, Inc. is a leading bio-technology company focused on the development of innovative diagnostic tests in the fields of cancer and neurodegenerative diseases such as Alzheimer’s disease, Parkinson’s disease and amyotrophic lateral sclerosis (commonly known as ALS or Lou Gehrig’s disease). Power3 Medical applies proprietary methodologies to discover and identify protein biomarkers associated with diseases. Through these processes, Power3 Medical has developed a portfolio of products including BC-SeraPro�, a proteomic blood serum test for the early detection of breast cancer for which it has completed Phase I clinical trials, and NuroPro�, a proteomic blood serum test for the detection of neurodegenerative diseases, including Alzheimer’s, Parkinson’s, and ALS diseases, for which it is currently engaged in Phase II clinical trials. These tests are designed to analyze an individual’s proteins to detect the presence of disease, a patient’s disease progression, a patient’s response to a particular drug, and the mechanisms of disease present in the patient for optimal targeted therapy.
Alzheimer’s disease (AD) or Alzheimer’s-type dementia is a progressive degeneration of brain tissue that primarily strikes people over age 65. It is the most common cause of dementia and is marked by a devastating mental decline. Intellectual functions such as memory, comprehension, and speech deteriorate.
Alzheimer’s disease can run its course from onset to death in just a few years, or it may play out over a period of as long as 20 years. More often, however, people suffer with Alzheimer’s disease for about nine years. It is the sixth leading cause of death in the U.S.
The NuroPro Blood Test of Power3 Medical Products, Inc is a diagnostic tool for the early detection of Neurodegenerative diseases. The analysis is designed as a tool for physicians to diagnose various degenerative diseases of the brain and nervous system. The test involves monitoring the concentration of 59 proteins in blood serum to accurately detect and distinguish between Alzheimer’s disease, ALS (Lou Gehrig’s disease), and Parkinson’s disease. Early detection of these diseases would allow physicians to intervene at an early stage to delay disease progression, potentially allowing patients to outlive their debilitating symptoms.
For more information about Power3 Medical Products, Inc., please visit http://www.power3medical.com
SPS Commerce, Inc. (Nasdaq:SPSC) announced that BVCF IV, L.P., a fund managed by Adams Street Partners, priced the public offering of 1,204,327 shares of the Company’s common stock at a price to the public of $16.50 per share. The Company will not receive any of the proceeds from the offering of shares by the selling stockholder. Stifel Nicolaus Weisel is the book-running manager for the offering and Craig-Hallum Capital Group is the co-manager for the offering.
SPS Commerce, Inc. provides on-demand supply chain management solutions worldwide.
First Financial Bancorp (Nasdaq:FFBC) announced that its wholly-owned subsidiary, First Financial Bank, has signed a purchase and assumption agreement to acquire all 16 of the retail banking branches of Liberty Savings Bank, FSB (”Liberty”) located in Ohio. The deposits associated with these branches totaled approximately $346.2 million as of March 31, 2011. Additionally, First Financial agreed to purchase a diversified portfolio of approximately $143.3 million of in-market performing loans as part of this transaction.
First Financial Bancorp Operates as the holding company for First Financial Bank, National Association that provides commercial banking, and other banking and banking-related services.
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