CHICAGO--(BUSINESS WIRE)--Aug. 6, 1999--
Sonoma Financial Corporation/VictorMaxx Technologies, Inc. (OTCBB:VMAX) released plans today for store expansion into other states. The Company will incorporate an independent subsidiary to operate their "Payday Stores" in each state.
"We have finished our initial investigations and are planning our expansion into two states. Currently, we are establishing licenses in these states and hope to announce the results of our registrations to the public shortly," said Terrence Donati, President of Sonoma Financial Corp. He continued, "We believe expansion into these new markets are critical to our growth and profit plans."
Sonoma Financial Corporation is a financial services company that owns and operates a chain of stores devoted to providing low documentation, short-term consumer loans. The company intends to become the national leader in the "Payday Loan" market by strategically opening new stores, penetrating new markets and by chain acquisition. Sonoma Financial is currently the only publicly traded company with a sole focus on 'payday advances.' Ace (NASDAQ:AACE) and First Cash Financial Services (NASDAQ:FCFS), have proven the viability of the concept in other markets, but are not specifically focused in this area. A complete investor package is available at http://www.virtualir.com/vmax.
Safe Harbor Disclaimer:
This release may contain certain forward-looking statements regarding the Company's expected performance for future periods, and actual results for such periods may materially differ. Such forward-looking statements involve certain risks and uncertainties, including but not limited to risks of changing market conditions in the overall economy and the industry, consumer demand, additional financing requirements, the opening of new stores, the success of the Company's acquisition strategy and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission.
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