SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
--------------------
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported) April 17, 2000
LORACA INTERNATIONAL, INC.
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Nevada 005-58227 87-0555751
- ---------------------------- ------------------------ -------------------
(State or other jurisdiction (Commission File No.) (I.R.S. Employer
of incorporation) Identification No.)
1601 Fifth Avenue, Suite 2320
Seattle, Washington 98101
- --------------------------------------------------------------------------------
(Address of principal executive offices and zip code)
Registrant's telephone number, including area code: (206) 332-0400
<PAGE>
ITEM 5. Other Events
On April 17, 2000, Loraca International, Inc. ("Loraca") issued a press
release announcing the closing of its acquisition of The Lexus Companies.
ITEM 7. Financial Statements And Exhibits
(c) Exhibits.
Exhibits Description
-------- -----------
99.1 Press Release dated April 17, 2000.
[REST OF PAGE INTENTIONALLY LEFT BLANK]
2
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereto duly authorized.
LORACA INTERNATIONAL, INC.
By: /s/ Bernard A. Guy
Bernard A. Guy
President
Date: April 20, 2000
3
<PAGE>
EXHIBIT INDEX
99.1 Press Release dated April 17, 2000.
EXHIBIT 99.1
CLIENT: LORACA INTERNATIONAL, INC.
CONTACT: Bernard Guy, President
(206) 332-0400
NEWS RELEASE
Loraca International Completes Acquisition of Loan Origination, Servicing
and Insurance Operations Facility
Company Merges with The Lexus Companies, Inc., and Its Wholly-owned Subsidiary
Calumet Securities Corporation
Seattle, WA, April 17, 2000--Loraca International, Inc. (OTC/BB: LCAI), an
emerging business-to-business e-finance services holding company, today
announced the completion of the merger with The Lexus Companies, Inc., and its
wholly-owned subsidiary, Calumet Securities Corporation, a mortgage banking and
insurance firm located in Schererville, Indiana. The purchase price was 377,778
shares of Loraca International, Inc. common stock and $2.3 million of floating
rate convertible subordinated notes. The transaction will be accounted for as a
purchase.
"We are please to announce the acquisition of The Lexus Companies and its
wholly-owned subsidiary, Calumet Securities Corporation," commented Ron Baca,
Chairman and CEO of Loraca International, Inc. "Calumet will be an integral part
of our growing internet mortgage operation as a platform to fund and service
loans that Loraca and its subsidiaries originate. Loraca will be better able to
maintain and expand relationships with our growing customer base. In addition,
Loraca's technology creates cost savings opportunities for Calumet which should
enhance the value of their business."
Calumet Securities is among the oldest continuously operating mortgage
companies in the Midwest, which received its seller/servicer approval from the
Federal National Mortgage Association (FNMA) and the Department of Housing and
Urban Development (HUD) in the 1930's. Calumet Securities originates and
services conventional and government loans, primarily in the Midwestern states,
for FNMA, FHLMC, FHA, GNMA, VA and various private investors.
Loraca International, Inc. is an emerging business-to-business e-finance
services holding company providing web-enabling technology to firms involved in
the mortgage industry.
Statements made in this news release that are not historical facts are
forward-looking information. Actual results may differ materially from those
projected in any forward-looking information. Specifically, there are a number
of important factors that could cause actual results to differ materially from
those anticipated by any forward looking information. Those factors include, but
are not limited to, changes in technology and product acceptance, regulatory
approval processes, ability of Loraca to successfully integrate the acquired
businesses, and general economic conditions. Additional information on these and
other factors which could affect the Company's financial results are included in
its Securities and Exchange Commission filings.
NOTE: Transmitted on BusinessWire at 12:22 p.m. PST, April 17, 2000.