IRTG - bought this AM, news supposed to be out on Monday;
IRT Industries Announces New
Management, Business Pursuits and
Other Events
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Jan. 8, 1999--IRT Industries Inc. (the
''company''), which trades on the OTC Bulletin Board owned by the Nasdaq Stock Market
(IRTG), has announced a change on management, a pending sale of its casino operations, pursuit
of new business operations, and other events.
In September 1998, the president of the company resigned. In November 1998, the two existing
directors of the company resigned and appointed a replacement. The new director and president
is Arnold Wrobel. The company is in the process of consummating an intended sale of its casino
business operations and related licenses in Costa Rica, and has canceled all pursuits for casino
related acquisitions. While the company hoped gaming endeavors would have eventually proved
profitable, management believes a new direction is necessary and has selected Internet related
businesses as the key focus. In this regard, the company is in the process of reviewing existing
Internet businesses for possible acquisition.
While the casino sale is incomplete, management hopes this will be closed soon. The company
also changed its corporate address and phone number to the following interim address and
number: 289-C Commercial Blvd., Suite 208, Lauderdale by the Sea, FL 33308, Telephone
number 954/351-0270. The company intends to change the corporate name. The company
remains trading on the Bulletin Board, but recently stopped trading on the Philadelphia Stock
Exchange for failing to meet minimum trading criteria. The company is involved in the pursuit of
Internet business opportunities and acquisitions and related ventures.
NOTE: Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This
release contains forward-looking statements that are subject to risk and uncertainties, including,
but not limited to, the impact of competition, continued acceptance of the company's products
and services, fluctuations in stock price and liquidity, fluctuation operating results and other risks
detailed from time to time in the company filings with the Securities and Exchange Commission.
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