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Thursday May 21, 6:04 am Eastern Time
Company Press Release
International Casino Cruises, Inc. Announces Acquisition of Mountain Energy
HOUSTON--(BUSINESS WIRE)--May 21, 1998--International Casino Cruises, Inc. (OTC BB:ICVI - news) announced today it has acquired 100% of Mountain Energy, an oil and gas concern based in Houston, Texas.
The acquisition by ICCI will be paid with 50,000,000 restricted common shares only.
Mountain Energy owns and controls the mineral rights in West Virginia that contain approximately 1.98 billion cubic feet of gas and 10,000,000 tons of coal, as well as other properties that all combined, have an estimated fair market value in excess of $200,000,000 with approximately 70,000,000 shares outstanding after the acquisition. This translates to approximately $2.85 per share.
The paperwork will be filed immediately to change the corporate name to Mountain Energy, Inc. Mr. Jack Uselton has been named Chairman and Chief Executive Officer.
Learn more by contacting International Casino Cruises, Inc. at 1701 Brun Street, Suite 100, Houston, Texas 77019.
Contact:
International Casino Cruises, Inc. Joe Gort, 800/716-5147 George Guttman, 718/951-0260
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