The Mint Leasing, Inc. Enters Into Purchase and Lease Transactions Involving Fifty New Toyota Camrys and Corollas |
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By: The Mint Leasing, Inc. Posted: 2009-12-30 04:08:16 |
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The Mint Leasing, Inc. (OTC Bulletin Board: MLES) ("Mint Leasing" or "the Company"), which provides innovative leasing services to customers of franchised automobile dealers throughout the United States, today announced that it has purchased fifty 2010 Toyotas (Camry and Corolla models) from a leading Houston Toyota dealer, utilizing its new and previously announced credit facility of up to $10 million. The vehicles have been leased to a major automobile rental agency in San Antonio, Texas.
"This transaction follows the purchase and lease of sixty-one Toyota Corollas that was announced earlier this month and illustrates an improving business outlook for Mint Leasing that we expect to continue into 2010," stated Jerry Parish, Chief Executive Officer of the Company. "The San Antonio auto rental agency selected Mint Leasing based upon the Company's ability to provide competitive prices and tailor leasing terms to the customer's specific requirements." "Our ability to close on the purchase and lease of several dozen vehicles on a timely basis further illustrates Mint Leasing's ability to adapt to the dramatic changes that have impacted the vehicle leasing industry during the past 18 months," continued Mr. Parish. "We believe the completion of this latest transaction in December should allow Mint Leasing to generate net income approaching $1 million in the fourth quarter of 2009." About The Mint Leasing, Inc. The Mint Leasing, Inc. represents an alternative to traditional financing companies by providing its innovative vehicle leasing solutions to the customers of premier automotive retailers. Most of its customers are located in Texas and six other states in the southeastern U.S. The Mint Leasing's customers are primarily comprised of brand-name automobile dealers that seek to provide leasing options to their customers. The Mint Leasing, Inc. is responsible for underwriting criteria and procedures, administration of the leases, and collection of payments from lessees. The Company is headquartered in Houston, Texas, and its common stock trades on the OTC Bulletin Board under the symbol "MLES". This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "believes," "should," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act, and are subject to the safe harbor created by the Act. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. Forward-looking statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include but are not limited to, successful performance of internal plans, product or services development and acceptance, the impact of competitive services and pricing, or general economic risks and uncertainties, and other risks disclosed in the Company's periodic filings with the U.S. Securities and Exchange Commission. The Company takes no obligation to update or correct forward-looking statements, and also takes no obligation to update or correct information prepared by third parties that are not paid for by the Company. |
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