DALLAS, Sept. 2, 2014 (GLOBE NEWSWIRE) -- South American Properties, Inc. (Pink Sheets:SAMP), is pleased to announce that the 2013 annual shareholder meeting was held on Dec. 31, 2013. At that time, the 3 proposals previously announced, which included adding 2 new members to the Board, adopting new Bylaws and amending the Articles of Incorporation, were voted on at the meeting and passed. Mr. Scott Horne delivered the new Corporate Vision and laid out the business plan for the company's new business venture. During this Shareholder meeting, SAMP received approval to change its name to LTV Funding Corp. This information is on the website www.southamericanproperties.com/annual-meeting-info.html.
South American Properties had to cancel its investment opportunity in South America, as was previously announced, due to a shareholder's action. This was also the reason for the delay in this announcement.
The new direction of the company is as an asset based or "hard money" lending company to residential and commercial real estate investors. The members of the Board have been involved as owners and operators of other asset based lending operations for over 15 years each. Their expertise in this arena should enable the growth and shareholder value to increase in the company beginning this year.
Following the shareholders' meeting, the board met and Mr. Jeff Love resigned as President and Chairman of the Board. Mr. Horne was elected as the company's new President and Chairman. In the following weeks, a more detailed plan to raise capital and begin operations and marketing to real estate investors will be introduced. Currently, steps are being taken to file the necessary paperwork to change the name of the corporation to the shareholder approved name.
As LTV Funding Corp. launches into its new operations in 2014, we are seeking to raise capital in both the public and private markets. Opportunities exist for investors of all sizes to invest with LTV Funding, generating both an attractive interest rate as well as a convertible note arrangement. For more information regarding these opportunities, please visit our website, www.ltvfunding.com.
About LTV Funding Corp:
South American Properties, Inc., formerly Texas Hills Barbecue, Inc. now known as LTV Funding, Inc., is a Nevada Corp. based in Dallas, Texas, will lend acquisition and rehab money for commercial and real estate properties, and other income generating assets located in Texas. The Company believes significant opportunities exist in this arena, and it plans to leverage its close relationships with its investor contacts in Texas. LTV may also enter into real estate projects in other states in the near future.
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings and disclosures at www.OTCmarkets.com.
CONTACT: Scott Horne firstname.lastname@example.org LTV Funding Corp, f/k/a South American Properties, Inc. 1400 Gables Court Plano, Tx 75075 Phone: 214/626-8566 www.ltvfunding.com Email: email@example.comSource:South American Properties, Inc.