CEDAR RAPIDS, IOWA (Aug. 20) BUSINESS WIRE -Avalon Group, Inc. today
announced that it has secured a commitment for substantial funding from
privately-held Appropriate Health Services.com, Inc. Under the terms of
the agreement, Appropriate Health Services will receive restricted
common shares of Avalon Group stock and will participate in the
content, and ultimately control of, Avalon's health-related web site at
stayhealthy.com. Both companies have also agreed to explore
other opportunities to further advance their relationship and to
accelerate market penetration of the healthcare information and
multimedia industries.
Ron Green, president & CEO of Avalon Group, commented, "This
arrangement with Appropriate Health Services provides Avalon with the
financing it needs to commence a new phase in the Company's
development. It furnishes the Company with sufficient resources to
complete final technology integration and to begin an aggressive sales
drive with potential customers for Avalon's X-po!(TM) kiosks. It also
brings an impressive, strategic partner to assist with Avalon's
business growth."
Although initially developed for the healthcare market, Avalon Group
is currently in discussions with a number of potential customers to
deploy X-po! kiosks in a variety of markets including retail,
financial, automotive, entertainment and transportation.
Avalon Group, Inc. Stock symbol: OTC Bulletin Board(R): AVAL
X-po! is a trademark of Avalon Group, Inc.
Avalon Group, Inc. is a company that designs and markets technology
solutions for customers in a variety of industries. The Company's first
major product, the X-po! kiosk was launched in 1998 as a
state-of-the-art, interactive kiosk that is Internet-ready and uses
standard personal computer (PC) architecture.
This release contains forward-looking statements that involve risks
and uncertainties and actual results may be materially different.
Investors are encouraged to perform comprehensive due diligence before
making investment decisions.
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CONTACT: Henry Russell Bruce Public Relations
Jim Thebeau
(319) 298-0242
E-mail: Thebeau@hrb-ideas.com |
