I see this as a positive for tremendous growth for AMGV.
Thursday November 5, 8:02 am Eastern Time
Company Press Release
American General Ventures to Merge with Nucleus
Holding Corp.
COLORADO SPRINGS, Colo.--(BUSINESS WIRE)--Nov. 5, 1998--American General Ventures, Inc. (OTC BB:AMGV),
has agreed to merge with Nucleus Holdings, Inc., a Chicago, Ill. based technology company.
The resulting company, which will be named Nucleus, will combine the marketing expertise of both companies with Nucleus'
strength in its build to order (BTO) computer production and its on-line and on-premise support. Nucleus, through its wholly
owned subsidiary, Alliance Net Technologies, Inc. is a provider of long distance telecommunications services, Internet services,
digital Personal Communications Service (PCS), and enhance paging and e-mail services.
The company expects that the merger will result in annual sales of $4 million. Upon completion of the merger, Nucleus will be
seeking additional capital to expand production and marketing capabilities, in addition to providing support for the acquisition of
competitors.
The company's association with Hotmail, a wholly owned subsidiary of Microsoft (Nasdaq:MSFT - news), provides globally
accessible, free Web-based electronic mail to over 16 million members will provide Nucleus and its subsidiaries additional
exposure.
The expanded capabilities of the merger will enable the company to have its own BTO (Build To Order) business as well as
bolster its service and tech support resources necessary to meet Wal-Mart's BTO requirements.
The company and Wal-Mart recently agreed to suspend BTO services until the completion of the merger and the proper
allocation of resources could be committed to the project.
The company will exchange its shares for Nucleus' shares that will result in Nucleus shareholders owning 78 percent of the
company. Prior to the merger, the company plans to do a reverse stock split so the capitalization reflects the value of the
company.
When used in this report, the words ''should,'' ''believe,'' ''anticipate,'' ''expect,'' and similar expressions are intended to
identify forward-looking statements. Such statements indicate management's reasonable assessment of the results of targeted
programs and policies. These results are subject to risks and uncertainties which could cause actual results to differ materially
from those projected.
Contact:
American General Ventures, Inc.
Investor Relations, 719/548-1616 x16 |
