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Microcap & Penny Stocks : Auxer Group (AXGI) -- Huge revenue growth w/ new contracts -- Ignore unavailable to you. Want to Upgrade?

To: UnderCover who wrote (1658)	5/1/2003 11:22:26 AM
From: UnderCover	Read Replies (1) \| Respond to of 1664

news Auxer Announces Additional Executive Appointment and Updates on Negotiations with Aerocontinente Dominicana and Kick Communications Thursday May 1, 10:56 am ET TRAVERSE CITY, Mich.--(BUSINESS WIRE)--May 1, 2003--THE AUXER GROUP, INC. (OTCBB:AXGI - News) announced today that Eric F. Paillet has been appointed as Executive Vice President of its Viva Airlines, Inc subsidiary. Mr. Paillet is an experienced aviation executive having recently served as President of NEA Holdings, Northeast Airline Services, Inc., Northeast Airlines, Ltd and International Aero Resources, Inc. In addition, Mr. Paillet has held additional executive and management positions with International Aviation Alliance, Inc., Aviation Systems International, Inc. and Business Express, Inc.-The Delta Connection. Auxer also announced that the Company has decided not to pursue the acquisition of Aerocontinete Dominicana and has suspended discussions with Kick Communications of Lake Success, New York. Robert Scott, Auxer's President and CEO, stated, "I am pleased to continue the build up of the Viva Airlines management team via the appointment of Eric Paillet. Eric's background includes hands on experience with a start up airline operation and this will prove to be invaluable to us going forward." Mr. Scott also said, "We have decided not to pursue the acquisition of Aerocontinente Dominicana. Our transaction with Queen Air, Aeronaves Queen, S.A. provides us with the structure, licensing and tools to commence the operation of full service airline operations. As such the continued attempt to complete the acquisition of Aerocontinte Dominicana would require the use of our time and resources that we unwilling to commit." Further, Mr. Scott stated, "We have abandoned discussions with Kick Communications. We had previously thought the communications segment of Auxer could be revived. Our initial discussions with Kick Communications led us to believe that Kick would be a good combination to effectuate the communications segment revival. However, the time and resources necessary to prepare for the commencement of the Viva Airline start up dictate that we cannot bring the Kick Communications discussions to formal conclusion. We may work with Kick on some projects but we will not be seeking to have them become a part of The Auxer Group." Forward-looking statements in this news release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, competition, new products, and technological changes, intellectual property rights and other risks. -------------------------------------------------------------------------------- Contact: The Auxer Group, Inc. Robert J. Scott 231/946-4343