Cordia Bancorp Inc. Issues Correction to Share Exchange Press Release
MIDLOTHIAN, Va., March 28, 2013 (GLOBE NEWSWIRE) -- On March 27, 2012 - Cordia
Bancorp Inc. inadvertently issued a draft press release dated April 1, 2013
stating that it had closed its share exchange with Bank of Virginia (BOVA) and
its common stock was listed on The Nasdaq Stock Market. The share exchange is
expected to be completed on March 29, 2013.Shares of Cordia Bancorp will
commence trading on The Nasdaq Stock Market on Monday, April 1, 2013 under the
symbol "BVA". Upon the closing of the reorganization, Cordia will have
approximately 2,778,900 shares of common stock outstanding.
About Cordia Bancorp and Bank of Virginia
Cordia Bancorp is a private bank holding company founded in 2009 to bring new
leadership and financial strength to undervalued community banks.
Substantially all of the assets of Cordia consist of its investment in Bank of
Virginia. Bank of Virginia, a state chartered bank headquartered in
Midlothian, Virginia, currently operates four full-service offices in the
counties of Chesterfield and Henrico, Virginia. Additional information can be
found on the internet at www.cordiabancorp.com and www.bankofva.com. Bank of
Virginia is a member of the FDIC and Equal Housing Lender.
This news release contains forward-looking statements.These forward-looking
statements may include: management plans relating to the transactions; and the
expected timing of the completion of the transactions.Forward-looking
statements are typically identified by words such as "believe," "expect,"
"anticipate," "intend," "outlook," "estimate," "forecast," "project" and other
similar words and expressions. Forward-looking statements are subject to
numerous assumptions, risks and uncertainties, which change over time.
Forward-looking statements speak only as of the date they are made.Neither
Cordia Bancorp nor Bank of Virginia assumes any duty and do not undertake to
update forward-looking statements. Because forward-looking statements are
subject to assumptions and uncertainties, actual results or future events
could differ, possibly materially, from those that Cordia Bancorp or Bank of
Virginia anticipated in its forward-looking statements and future results
could differ materially from historical performance. For any forward-looking
statements made in this press release or in any documents, Cordia Bancorp and
Bank of Virginia claim the protection of the safe harbor for forward-looking
statements contained in the Private Securities Litigation Reform Act of 1995.
CONTACT: Jack Zoeller,
Chairman & CEO, Bank of Virginia
President & CEO, Cordia Bancorp
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