HearAtLast Holdings, Inc. (Pinksheets:HRAL - News), a leading provider of suitable affordable solutions to clients with hearing needs in the billion dollar hearing loss market, announced today it will be developing 25 new Hearing Store locations in various markets in the USA and Canada. These new locations will be by way of a joint venture agreement between certain Joint Venture Partners and HearAtLast Holdings, Inc.
This development is also part of the new licensing plan previously released on June 19, 2009 where HearAtLast announced that it would begin to license their HearAtLast Hearing Store brand throughout North America. HearAtLast will have a majority interest in the new Joint Venture locations and will be managed by HearAtLast under their HearAtLast License.
"We believe that this approach will empower our Company for rapid growth across the country as well as enabling us to penetrate the vast USA and European markets," stated Matthew Sacco, CEO of HearAtLast Holdings, Inc. Mr. Sacco further commented that the Joint Venture Plan for these 25 locations has been designed in a way that will have little to no dilution in the Company as well as accommodating the numerous requests the Company receives in Joint Venture interests for development of their Hearing Stores. "We receive numerous requests from potential customers, not only from Canada but also from the USA and Europe asking when we will be developing in their areas. Along with this, we also field inquiries from potential qualified business partners expressing interest in opening up new Hearing Stores and using our expertise in managing these stores," commented Mr. Sacco.
"In late April of this year, HearUSA Inc. announced that they had sold 23 of their Ontario locations for USD$23.7M. Our goal is to have 85 HearAtLast Stores opened within our Wal-Mart models and by licensing and opening up new locations together with our Joint Venture Partners; this will help us supercede the century mark which will ultimately create value for our shareholders," stated Mr. Sacco.
HearAtLast Focuses on Hearing Store Platform
Over the past several months HearAtLast has transformed its clinics located in select Wal-Mart stores throughout Canada into hearing boutiques, with the latest in amplified telephones, alarm clocks, wireless headphones and accessories for both the hearing and visually impaired.
This model that is poised to attract attention with the masses walking by our storefront locations will simply heighten awareness to lifestyle-oriented offerings. For too long consumers have not had access to this wide array of assistive listening devices at the retail level.
About HearAtLast
HearAtLast Holdings, Inc. is a Nevada corporation that owns and operates its wholly-owned subsidiary of hearing stores co-located within select Wal-Mart stores throughout Canada. Their chain of hearing stores specializes in the sale of digital hearing aids and testing services. The Company is the affordable hearing solution for Canadians, combining the most sought after retail space in North America with convenience and location. HearAtLast provides State of the Art Hearing Testing and Dispensing services to individuals with all types of measurable hearing loss.
HearAtLast facilities sell a selection of high quality brand name hearing aids and also offer complimentary screening tests, clinical hearing tests, high end ear buds and assistive listening devices. The Company's mission is to consolidate the highly fragmented hearing services industry while providing unparalleled service to the estimated 30+ million hearing impaired individuals throughout North America. After a prescription is approved, the independent on-site audiologists and hearing aid practitioners at HearAtLast utilize a refined process to dispense the latest in Name Brand digital hearing aids.
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Safe Harbor
Statements about the Company's future expectations and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby.
The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management, as well as assumptions made by any information currently available to the Company or its management. When used in this document, the words "anticipate," "estimate," "expect," "intend," "plans," "projects," and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties.
Contact:
Investor Relations:HearAtLast Holdings, Inc.Aldo
Rotondi416-436-3795investorrelations@hearatlast.com
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