PACEL Corp. Announces Closing on United Personnel Services
March 01 2006 - 2:21PM
PR Newswire (US)
CHARLOTTE, N.C., March 1 /PRNewswire-FirstCall/ -- PACEL Corp.
(OTC:PCCE) (BULLETIN BOARD: PCCE) PACEL Corp. announces that it
will close the acquisition of United Personnel Services, Inc. on
Tuesday, March 7, 2006. PACEL Corp. entered into a letter of intent
to purchase World Wide Personnel Services of Maine, Inc. and United
Personnel Services, Inc. in November 2005. United Personnel
Services, Inc. and World Wide Personnel Services of Maine, Inc. are
leading Professional Employer Organizations in Maine. Combined
these two companies will generate approximately $500,000 in gross
profit for PACEL Corp. and will approximately double PACEL Corp.'s
revenue. PACEL Corp. anticipates closing on World Wide Personnel of
Maine, Inc. within the next month. Adding these companies extends
PACEL Corp.'s operating footprint to the Northeast area of the
country giving us a strong presence along the Atlantic coastline.
"We are looking forward to the closing now that all the details
have been finalized," stated Gary Musselman, President of PACEL.
"United Personnel Services, Inc. is an excellent organization and
will be valuable members of the PACEL family." United Personnel
Services, Inc. will continue to operate with the current management
team and continue to serve their client base. Cautionary Statement
for the Purpose of Safe Harbor Provisions of the Private Securities
Litigation Reform Act of 1995: Forward-looking statements in this
news release are made under the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Certain important
factors could cause results to differ materially from those
anticipated by forward-looking statements, including the impact of
competition, the success of existing and new product releases, the
management of our growth, and other factors discussed from time to
time in reports filed by the company with the Securities and
Exchange Commission. DATASOURCE: PACEL Corp. CONTACT: Gary
Musselman of PACEL Corp., +1-704-643-0676
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