More than 20 percent of available Village News Inc. stock sold

FALLBROOK - More than 20 percent of the available Preferred Stock, Series B shares and the Common Stock recently offered by the Village News Inc. is now sold, according to company president Julie Reeder.

“We had a great response from readers and local residents,” Reeder said. “This offering will allow the company to take advantage of several opportunities and expand operations to better serve our readers and our advertisers.”

Reeder indicated that both Preferred and Common shares were among the purchases concluded thus far in the offering, designed to raise capital to retire some short-term debt accumulated in recent years due largely to the 2007 wildfires and the impact of the national economic recession.

The preferred stock carries a cumulative dividend of 10 percent, to be paid quarterly. The minimum investment is $2,000. Village News, Inc. has a 12-year history of paying dividends to investors of preferred stock who initially stepped up to invest in the community newspaper during its inception.

The offering is for up to 47,000 shares of Preferred Stock, Series B shares at the offering price of $1.00 per share. A subscriber must purchase a minimum of 2,000 shares, or $2,000. Village News Inc. also offers a similar amount (47,000) of shares of its Common Stock.

The Common Stock is the corporation’s only class of voting stock. The Series B Preferred Stock is non-voting, and includes a cumulative dividend of 10 percent of par value.

Village News Inc. is an award-winning multi-media information company based in Fallbrook. It began in 1997 as the Village News, a weekly newspaper launched in Fallbrook by Reeder and core group of residents and investors. The company today publishes three weekly newspapers, two specialty magazine-style publications, and operates several related websites.

For more information on the stock offering, contact Kay Howley at (760) 723-7319.