Littlefield Corporation Completes South Carolina Acquisition

AUSTIN, Texas--()--Littlefield Corporation (OTCQB: LTFD) announced today that it has completed the acquisition of a charitable bingo hall near West Columbia, South Carolina acting through appropriately formed and licensed wholly owned corporate subsidiaries.

This acquisition which is midsized in terms of revenue to other halls in our charitable bingo portfolio is expected to have a positive impact on earnings once initial transaction and transitional costs have been incurred and absorbed.

Jeffrey L. Minch, President and CEO of Littlefield Corporation, made the following comment:

“The acquisition strengthens our regional presence and complements existing successful halls in the region.

We are excited about the ability to contribute to another successful charitable bingo hall and to develop meaningful revenue for a worthy charity.

We continue to evaluate acquisition opportunities and are in active consideration of several opportunities.

I would like to thank the acquisition team for their continued dedicated efforts.”

ABOUT LITTLEFIELD CORPORATION

Littlefield Corporation, headquartered in Austin, Texas, is the largest public owner of charitable bingo halls in the United States. The Company, through its corporate subsidiaries, develops, owns and operates 40 halls in Texas, South Carolina, Alabama and Florida. In Texas its corporate subsidiaries are involved as a licensed commercial lessor and in South Carolina as a licensed promoter. 145 charities conduct bingo in these charitable bingo halls.

In accordance with the safe harbor provisions of the Private Securities Reform Act of 1995: except for historical information contained herein, certain matters set forth in this press release are forward looking statements that are subject to substantial risks and uncertainties, including government regulation, taxation, competition, market risks, customer attendance, spending, general economic conditions and other risks detailed in the Company’s Securities and Exchange Commission filings and reports. The Company undertakes no obligation to update publicly any forward looking statements, whether as a result of new information, future events or otherwise.

Investors are always cautioned to be careful in drawing conclusions from a single press release, the Company’s performance in a single quarter or the individual opinions of any member of the Company’s management in making their individual investment decisions.

Contacts

Littlefield Corporation
Cecil Whitmore, 512-476-5141
Financial Analyst, Investor Relations
cwhitmore@littlefield.com

Contacts

Littlefield Corporation
Cecil Whitmore, 512-476-5141
Financial Analyst, Investor Relations
cwhitmore@littlefield.com