As promised, news was released today. Some volume crept in today, 13,800 shares worth. . .all buys. 3 market makers improved their position, and the bid was moved up. More news is likely to be released next week.
Thursday June 3, 10:55 am Eastern Time
Company Press Release
Oxford-Knight Signs Letter of Intent
to Develop 33 Acre Senior Living
Facility & Amenities
GRAND ISLAND, N.Y.--(BUSINESS WIRE)--June 3, 1999--Oxford-Knight International, Inc.
(OTC BB - OKTI), through its President and CEO, Paul Syracuse announced today that it intends
to break ground on a 33 acre retirement development featuring 153 single family units, a 200 bed
Assisted Living Facility, and a 50-100 bed nursing home facility in September or October of this
year, pending regulatory approval from the State of New York. The development will also feature a
newly constructed pharmacy, dental office, physicians office, and recreation center. Oxford Knight
will retain ownership in all of the developments components with the exception of the single family
homes and physicians office. The development will be a gated community located in Tonawanda,
New York and will limit occupancy to residents 50 years and older and handicapped residents of all
ages. The homes built will range in size from 1200-1800 square feet and will be financed by
individual purchasers' mortgages. The financing for the other components of the development, to be
named, ''Oxford Landings, an Oxford-Knight Retirement Community'' will be accomplished
through a combination of loans and bond offerings.
Commenting on this new announcement, Oxford Knight's President and CEO Paul Syracuse said,
''This development will have a very positive impact on our revenue growth over coming years. The
single family unit portion should net the company roughly $5 million in profits over the next few years
and the assisted living care facility & nursing home should add another $4 million in estimated
revenues to the company annually with 30-35% going to the bottom line. It is expected that we will
eventually take this exact concept nationwide.''
Oxford-Knight International, Inc. plans to specialize in mergers & acquisitions, leveraged buy-outs,
business consulting, real estate development, construction (residential and commercial), assisted
living facilities (new), and retail & wholesale distribution of auto accessories. The company has
2.282 million shares outstanding. For more information on Oxford-Knight, contact Jeff Brommer,
Investor Relations at 630-761-8062.
This release contains forward looking statements with respect to the results of operations and
business of Oxford-Knight International, Inc. that involves risks and uncertainties. The Company's
actual future results could materially differ from those discussed. Risks and uncertainties of the
Company will be detailed from time to time in the Company's periodic reports. The company
intends that such statements about the Company's future expectations, including future revenues and
earnings, and all other forward looking statements be subject to the ''safe harbors'' provision of the
Private Securities Litigation Reform Act of 1995.
Investments 101, Ltd. has been retained by Oxford-Knight to provide investor relations services for
a period of three months beginning April 8, 1999. Investments 101, Ltd. is being compensated for
services rendered with 150,000 shares of free-trading common stock. Jeff Brommer, his family,
friends, and associates may from time to time buy and sell the above mentioned security in the open
market.
Contact:
Investments 101, Ltd.
Jeff Brommer, 630/761-8062 |
