Our Town USA, Inc. (OTUSA) Assumes Control of Concord
International Group, Inc. (CIGI)
PR Newswire - October 16, 1996 13:50
TALLAHASSEE, Fla., Oct. 16 /PRNewswire/ -- Concord International Group,Inc. (OTC Bulletin Board: CIGI) officially transferred management and majority stock control to Our Town USA, Inc., a Florida corporation, on Oct. 14, 1996. The transfer completed two weeks of negotiations between the two companies. "Our Town USA, Inc. brings strong technology and marketing communicationskills to The Concord Group," said former President and CEO Henry Val. "We needed a team that could quickly respond to the rapid multimedia marketing
growth of the Internet community and was also well versed in the traditional media market. Their technical experience brings with it a wealth of products that will facilitate our goal of having the best marketing `Engine' available to new businesses and products."
Our Town USA, Inc. will remain a majority owned subsidiary of Concord
International Group, Inc. with the current Board of Directors serving both companies. Sam Musslewhite, current President and CEO of Our Town USA, will act as President and CEO until a formal operational review is completed by the new Board of Directors. Musslewhite says, "Concord currently owns minority interest in several strategic product based companies. A review of our joint capabilities and services is under way. We would not be serving our stockholders or our customers if we did not consider expansion of our directorship. We have always taken a hands on approach to management, with this expansion, additional talent and leadership will be considered. We have
currently assigned Rudy De La Garza (512-258-4989), Don Johnson (352-394-0288)and Steve Binion (904-893-9439) to Investor relations."
Our Town and CIGI's immediate future has some interesting ventures on the horizon. Our Town is about to complete software distribution agreements with a number of retail chains, over 1,000 business opportunists or SOHO's, and have agreements with associations serving over 100,000 members willing to co-market the product to their organization. Our Town has started to develop LOI's with 5 companies to pursue joint venture marketing relationships. Concord International Group will narrow its web sites direction to marketing the profiles of companies for venture capital purposes and develop independent web sites for their clients product sales and exposure. Our Town USA has several new products to be released over the next 60 days.
SOURCE Concord International Group, Inc.
CONTACT: Rudy De La Garza of Our Town USA, 904-893-9439
ourtownusa.net |
