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Microcap & Penny Stocks : 1st Miracle Group (MVEE) Facts Thread

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To: Capitalism who wrote ()	8/3/1998 1:47:00 PM
From: Capitalism	Read Replies (4) of 257

North American Health and Fitness Acquires Mega Communications SAN MATEO, Calif.--(BUSINESS WIRE)--Sept. 17, 1997--North American Health and Fitness Corp. (OTC BB:NAFT) announced today that it has acquired Mega Communications for an undisclosed amount of stock. Mega Communications is an entertainment company that produces movies and television programs. Two of the projects that Mega Communications are currently involved with are "Grizzly Mountain" and "The Sports Bar." Grizzly Mountain is a family movie, to be released theatrically on Oct. 17, 1997, starring Dan Haggerty from the 1970's hit television series "Grizzly Adams." The film is to be distributed through Legacy Films and it is expected to have a video street date January of 1998. Based on the success of this film sequels may also be produced. "The Sports Bar" is a syndicated half-hour television show currently in production, which is to air late night on Saturdays. It has also cleared to air in 82% of the country mainly on NBC affiliate stations. The first episode will air in mid-October. The acquisition of Mega Communications is anticipated to add approximately $2,000,000 in assets to North American Health and Fitness. Mega Communications will now become a wholly-owned subsidiary. North American Health and Fitness Corp. currently operates six athletic clubs under the name Californian Athletic Clubs with over 30,000 members in the San Francisco Bay area. During 1998 the company envisions expanding to 15 clubs with 60,000 members. North American Health and Fitness Corp. was formed to capitalize through strategic acquisitions, on the powerful trend towards health and fitness fueled by the baby boom generation in North America. The management team of North American Health and Fitness has extensive experience in building companies through acquisitions and has the financial backing to pursue an aggressive acquisition strategy.

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