International Industries Allows Letter of Intent to Lapse.
PR Newswire - November 18, 1998 10:55
BOCA RATON, Fla., Nov. 18 /PRNewswire/ -- International Industries, Inc. (OTC Bulletin Board: ININ) (the "Company") announced that on November 13, 1998, the Letter of Intent entered into between the Company and Dan Rubin to acquire control of Country Star Restaurants, Inc. has lapsed (previously announced on November 10, 1998). Both parties have formally agreed not to pursue the acquisition. At this time management feels that focusing on the core business of selling/franchising cigar vending humidors and the expansion of e-commerce revenues is best for shareholder value. They will continue to entertain and explore other opportunities for revenue expansion.
International Industries, through its majority owned subsidiary Mr. Cigar, Inc., franchises the "Mr. Cigar" fully automated vending humidors, which dispense mass-market and premium cigars. The automated humidors hold up to 200 cigars ranging in price from $2 (mass-market) cigars to $35 (premium) keeping them perfectly humidified until purchased. International Industries has published a new website at www.stogies-online.com for online ordering and marketing of their products.
For more information, contact: The Hawke Group, Inc., (954) 564-7114, or fax (954) 564-9848. Visit their website at www.hawkegroup.com.
This material was prepared and disseminated by The Hawke Group, Inc. ("Hawke") for the Company discussed herein, based upon Company-supplied information or other sources believed to be reliable. The information is not guaranteed by Hawke for accuracy or to be all-inclusive. Forward-looking statements in this release are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties and actual results could differ from those discussed. This material is information only and is not an offer or solicitation to buy or sell the securities. Hawke, its affiliates, and/or its officers, directors and employees may from time to time have a position in these securities. The Hawke Group has been compensated by the Company.
SOURCE International Industries, Inc.
/CONTACT: The Hawke Group, Inc., 954-564-7114, or fax, 954-564-9848/
/Company News On-Call: prnewswire.com or fax,
800-758-5804, ext. 122170/
/Web site: hawkegroup.com
(ININ) |
