Press Releases

Prime Acquisition Corp. Announces Board and Executive Changes

SHIJIAZHUANG, China-- Prime Acquisition Corp. (“Prime” or the “Company”) (OTCQB: Common Stock: “PACQF”, Units: “PAQUF”, Warrants: “PAQWF”) today announced the following changes to its executive management team, effective May 8, 2014:

  • Mr. William Tsu-Cheng Yu has been appointed interim Chief Executive Officer and continues as a member of Prime’s Board of Directors.
  • Ms. Amy Lau has been appointed interim Chief Financial Officer. Ms. Lau is a Certified Management Accountant and previously served as a financial consultant to Prime. From 2007 to 2010, she served as controller at Optoplex Corp., an optic fiber component company based in Silicon Valley.
  • Mr. Andrea Crespi Bel’skij has been appointed Executive Vice President of European Operations. Mr. Bel’skij has over a dozen years of M&A and corporate finance experience in Europe and is a Certified International Financial Analyst.

The Company also announced the appointment of Ms. Diana Chia-Huei Liu, who previously served as chief executive officer and director of Prime, and Mr. George Kaufman, who previously served as an independent director of Prime, to its Board of Directors.

About Prime Acquisition Corp.

Prime Acquisition Corp. is a Cayman Islands corporation focused on building a portfolio of high yield-producing assets.

Forward-looking Statements

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Prime Acquisition Corp. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, based upon the current beliefs and expectations of Prime’s management, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The following factors, among others, could cause actual results to meaningfully differ from those set forth in the forward-looking statements:

  • Continued compliance with government regulations;
  • Changing legislation or regulatory environments;
  • Requirements or changes affecting the businesses in which Prime is engaged;
  • Industry trends, including factors affecting supply and demand;
  • Labor and personnel relations;
  • Credit risks affecting the combined business’ revenue and profitability;
  • Changes in the real estate industry;
  • Changing interpretations of generally accepted accounting principles;
  • General economic conditions; and
  • Other relevant risks detailed in Prime’s filings with the Securities and Exchange Commission.

The information set forth herein should be read in light of such risks. Prime does not assume any obligation to update the information contained in this press release.

Prime Acquisition Corp.
86 (311) 8382 7688

Source: Prime Acquisition Corp.