Corporate Vision (CVIA) Message Board

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Microcap & Penny Stocks : Corporate Vision (CVIA)

CVIA 0.480

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Jun 30 5:00 PM EST

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To: buckshot who wrote (4826)	5/11/1998 8:56:00 PM
From: Milk	Read Replies (3) of 6654

Corporate Vision, Inc. AnnouncesRevised Agreement Closing Date for WOTD Acquisition May 11, 1998 08:34 PM TULSA, Okla.--(BUSINESS WIRE)--May 11, 1998--Corporate Vision, Inc. CVIA today announced the business agreement between CVIA and Western Oil and Tire Distributors, Inc. (WOTD) is expected to close by the end of May, 1998. This delay has been incurred due to an administrative process that has taken longer than anticipated. The transaction between CVIA and WOTD is being structured as an asset acquisition rather than the previously announced merger. Details of the final transaction will be forthcoming upon completion of the agreement and the necessary filings. Management's actions, including the recently proposed 300-1 reverse split and the recent private placement financing were deemed necessary to make CVIA sufficiently attractive for a new business opportunity. Management is very excited about the prospects for success of the WOTD acquisition. The reception to consolidation in the distribution segments of the petroleum and tire industries is extremely encouraging. WOTD is presently a privately held company. Upon closing of its agreement with CVIA, information pertinent to the status of its business and its plan of operations will be released to shareholders in accordance with guidelines established by the SEC, state law and corporate administrative practices of a publicly reporting company. This press release contains forward-looking statements with respect to the results of operations and business of Corporate Vision, Inc. that involves risk and uncertainties. The Company's actual future results could materially differ from those discussed. Risks and uncertainties of the Company will be detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.

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