MedAmerica Properties Inc. Retires Preferred Shares

BOCA RATON, Fla., July 6, 2017 /PRNewswire/ -- MedAmerica Properties Inc., formerly known as Banyan Rail Services Inc. (OTC: BARAD; MAMP effective July 19), today announced that effective June 30, 2017 it has retired more than 95%, or 9,875 shares, of its series A cumulative preferred stock and $301,656 of accumulated preferred dividends, by issuing 257,831 shares of its common stock. Completion of this common for preferred stock exchange further strengthens MedAmerica's financial condition as the Company pursues its newly adopted business plan to acquire, purchase and manage strategically located medical office buildings, particularly in the sunbelt states.

Gary O. Marino, the Company's chairman of the board, commented, "The holders of substantially all of the outstanding preferred shares participated in the exchange, and our board and management team appreciates the continued support our preferred stockholders have shown in the Company and in our new strategy of investing in real estate in the desirable healthcare industry with well-located medical office buildings." He added, "The retirement of the preferred stock facilitates MedAmerica's ability to access the capital markets to facilitate our real estate acquisition initiatives."

About the Company
MedAmerica Properties Inc. is a Delaware corporation pursuing the acquisition and management of well-located medical office buildings with the intention of aggregating multiple properties with strong fundamentals in attractive geographic locations, particularly in the sunbelt states.

Safe Harbor Regarding Forward-Looking Statements
Although we believe that the acquisition and ownership of medical office buildings is fundamentally sound, we cannot assure you that we will be successful in this endeavor or that we can locate, finance and acquire these properties. Some of the statements that we make in this press release, including statements about our confidence in the Company's prospects and strategies, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements other than historical information or statements about our current condition. Forward-looking statements can be identified by the use of terms such as "believes," "contemplates," "expects," "may," "will," "could," "should," "would," or "anticipates," other similar phrases, or the negatives of these terms. We have based the forward-looking statements on our current expectations, estimates and projections about us. We caution you that these statements are not guarantees of future performance and involve risks and uncertainties. We have based many of these forward-looking statements on assumptions about future events that may prove to be inaccurate. Accordingly, our actual outcomes and results may differ materially from what we have expressed or forecast in the forward-looking statements. Any differences could result from a variety of factors, including our ability to (i) continue to successfully raise capital to fund our operations; (ii) successfully find medical office buildings to acquire; (iii) comply with SEC regulations and filing requirements applicable to us as a public company; and (iv) any of our other plans, objectives, expectations and intentions contained in this release that are not historical facts. You should not place undue reliance on our forward-looking statements, which reflect our analysis only as of the date of this release. The risks and uncertainties listed above and other documents that we file with the SEC, including our annual report on Form 10-K, quarterly reports on Form 10-Q, and any current reports on Form 8-K, must be carefully considered by any investor or potential investor in the Company. We undertake no obligation to update forward-looking statements, except as required by law.

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SOURCE MedAmerica Properties Inc.