CORPORATE VISION, INC. UPDATES MERGER
DEVELOPMENTS
TULSA, OK, Feb. 3 / Business Wire / -- CORPORATE VISION, INC. (OTC
BB: CVIA) today announced it is nearing completion of the proposed merger
with Western Oil and Tire Distributors (WOTD).
Mr. Jack Arnold, interim CEO of Corporate Vision, commented on meetings
held Jan. 20-23 with representatives of Western Oil and Tire Distributors and
potential major investors, saying, "These meetings have put on the table the
concepts and tangible methods by which we can make this business succeed.
WOTD's business growth plan is based on acquiring existing operating
companies with proven track records in sustained revenue and profit. WOTD's
initial efforts are targeted at acquiring retail and wholesale tire businesses and
petroleum product sales and distribution companies.
"Details of a final agreement are underway between WOTD and it's first potential
acquisition, a $3.5 Million tire business in the Western United States. We believe
that WOTD has assembled a leadership team which is capable of taking this
venture to a high level."
Mr. Arnold spoke further, "As news of this pending merger has spread through
the oil and tire industries, we have been contacted by many additional potential
acquisition candidates very interested in being considered by WOTD. Businesses
that are well-established and currently profitable will be considered.
"Corporate Vision, Inc. and Western Oil and Tire Distributors, Inc. will complete
their own merger negotiations as quickly as is reasonably possible. WOTD's
merger strategies include an aggressive plan to raise additional capital needed to
fund future acquisition costs and ongoing capital requirements.
"We are committed to reaching a presence and level in the market which will be
sustainable and which will inure to the future benefit of our shareholders."
Corporate Vision, Inc. is in the process of establishing their ability to file all
reporting documentation electronically with the SEC, as per new regulations
requiring this method of reporting as of Jan. 1, 1998.
Corporate Vision, Inc. is a fully-reporting company with the SEC. This press
release contains forward-looking statements with respect to the results of
operations and business of the company that involves risk and uncertainties. Risks
and uncertainties of the Company are detailed from time to time in the company's
filings with the Securities and Exchange Commission.
Corporate Vision can be reached at 918-747-CVIA (2842), by e-mail at:
info@cvia.com or through our Internet address: cvia.com |
