Spectrum Acquisition Holdings, Inc. Appoints New President & CEO and Files for Name Change to Western American Mining Co.
For Immediate Release New York—(Business Wire) January 25, 2008 — Spectrum Acquisitions Holding, Inc. (Pink Sheets: SAQH.PK) (the “Company”) is pleased to announce that David Lindemann has been appointed as the Company’s President & Chief Executive Officer effective immediately. Mr. Lindemann responsibilities will include running the Company on a day–to-day basis, assisting the Company in securing capital from value-added investors. The Company has decidedly ventured into the market of drilling and mining equipment manufacturing. It will establish research on “green technologies” that will provide “small footprint” drilling technologies, micro drilling, composite drilling components and other technologies that will minimize the traditionally poisonous and toxic environmental threats poised by the mining industry. To that end, Mr. Lindemann intends to focus his efforts on identifying a potentially lucrative merger or acquisition candidate. However, in order to effectuate this first merger, the Board is considering a reverse split, one that will allow an acquisition via restricted stock, but will not alienate the current shareholders of the company. The Board believes that this reverse merger and acquisition is a necessary stepping-stone that will enable an upgrading the listing status of SAQH.PK to the Over the Counter Bulletin Board (OTCBB). In conjunction with his appointment, the Company intends to change its name from Spectrum Acquisitions Holdings Inc. to Western Mining American, Inc. The name change is necessary to better reflect the brand equity and future operations of the Company. To find out more about this direction of SAQH, please visit our new website at: www.mineamerica.com Commenting on his appointment, Mr. Lindemann stated: "I am pleased to be appointed President and CEO. These appointments will allow me to directly contribute to the growth of the Company. To that end, my primary goal is to restore and build shareholder value. Currently, the Company’s plan is develop through locating well-rounded mining companies that have growth restrictions due to lack of funding. I appreciate the continued support of all of our shareholders moving forward."
