STILL AT .022!
NIAR ANNOUNCES BUY-OUT
Wednesday April 16 4:22 PM EDT
NIAR Announces Buy-Out
ORLANDO, Fla., April 16 /PRNewswire/ -- North American Resorts Inc announced
today that it has entered into an agreement to be bought out by St. Anthony
Entertainment, Inc. for a combination of stock at .05 per share of royalties at .10 per
share, equaling .15 per share, or approximately $8,000,000. NIAR shareholders will
receive .10 in royalties from St. Anthony Entertainment, Inc. for each share owned.
NIAR's stock will be valued at .05 per share for trade purposes. St.
Anthony's stock will be based on the 10 day average bid price at closing.
The buy out is subject to St. Anthony completing its move to become a publicly
reporting company within 90 days and is subject to share holder approval of both
companies. Joey DiFrancesco, C.E.O. of St. Anthony Entertainment, stated that, "My
goal is to create a resort, entertainment and gaming company and NIAR's Vacation
Membership concept is a perfect match for my company's master plan." Mr.
DiFrancesco stated, "My company is presently doing a private placement for
$1,000,000 to begin production of a children's television series to be filmed on
Cypress Island in Kissimmee, Florida. SOURCE North
American Resorts, Inc.
Dave |
