10/27/98 /CONTACT: Al Hardman of BEVEX Inc. (formerly Fountain Fresh International), 619-350-4060; Imagine that, the same number as ZSUN and two digets off Veritas's phone number
FOUNTAIN FRESH INTERNATIONAL CHANGES ITS NAME TO BEVEX INC
...Beverage Center Redesign Underway
SOLANA BEACH, Calif., Oct. 27 /PRNewswire/ -- At the August 17, 1998
annual meeting of Fountain Fresh International (OTC Bulletin Board:
FTFR) 20,362,897 of 32,123,571 common shares of stock were represented
in person or by proxy, constituting a quorum. Shareholders voted on
the following actions and business matters:
1. The existing board of directors was reelected by a majority
shareholder vote as follows:
Hugues Monteil Chairman of the Board
Marc Bruhwiler Director
Allen Hardman Director
Michael Montandon Director
2. The appointment of the accounting firm of Jones & Jensen in Salt
Lake City, Utah, as auditor of record for Fountain Fresh
International was ratified by a majority shareholder vote.
3. The Stock Purchase Agreement, executed on May 19, 1998, wherein a
majority of Fountain Fresh shares were purchased by BSAG
(Switzerland) and its affiliates, was ratified by a majority
shareholder vote.
4. An amendment of Article 1 of the Articles of Incorporation of
Fountain Fresh International, changing the name of Fountain Fresh
International to BEVEX Inc. was approved by a majority shareholder
vote.
Fountain Fresh International previously was doing business as
BetterStuff Inc. BEVEX has now been reorganized to make BetterStuff
International a wholly owned subsidiary of BEVEX Inc. The beverage
center business will be conducted by BetterStuff International.
The name BetterStuff Inc. will no longer be used. Accordingly, all future communications to the beverage center marketplace will be from BetterStuff International. All communications to shareholders will originate with BEVEX Inc.
Redesign of the company's beverage center, to incorporate several new features, is underway. A concept prototype design review meeting is scheduled to be held in Switzerland on October 27, 1998.
"If the new features function as expected, we believe it will significantly enhance the opportunities to place beverage centers in the global marketplace," said Allen Hardman, president and CEO of BEVEX Inc. "Moreover, we believe these features will provide BetterStuff International with a much stronger competitive position than it had with the old design," he said.
In response to a frequently asked question, Hardman indicated that BestWay USA, which has been restructured, continues as the North American distributor for BetterStuff International. However, the purchase order BestWay initially issued to BetterStuff Inc. in the fall of 1997 was canceled when the first two beverage centers delivered to BestWay by BetterStuff Inc. failed to perform in the marketplace and were removed from service. The company has been advised by BestWay that BestWay will not place any new orders for beverage centers until the performance and reliability of the new design currently underway has been proven to BestWay's satisfaction.
BEVEX Inc. (formerly Fountain Fresh International) is a developer and
manufacturer of in-store beverage machines, designed to offer
value-oriented, self-serve soft drinks and purified drinking water.
Any statements released by BEVEX Inc. that are forward-looking are
made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Editor and investors are cautioned that
forward-looking statements invoke risk and uncertainties that may
affect the company's business prospects and performance. These include
economic, competitive, governmental, technological and other factors
discussed in the company's filings with the Securities and Exchange
Commission.
SOURCE BEVEX Inc.
10/27/98 /CONTACT: Al Hardman of BEVEX Inc. (formerly Fountain Fresh International), 619-350-4060; or Madeleine Franco of Jordan Richard Assoc., 801-595-8611/
/Web site: www.jordanrichard.com/ (FTFR) CO: BEVEX Inc.; Fountain Fresh International; BetterStuff Inc.; BetterStuff
International ST: California IN: FOD SU: PER RCN |
