$$$$- NAIR UP 77% TODAY ON BUY OUT NEWS-$$$$
CURRENT PRICE: .039 X .035 ,
--------------------
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. |
