Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : Corporate Vision (CVIA) -- Ignore unavailable to you. Want to Upgrade?

To: Frank Henriquez who wrote (1537)	1/13/1998 8:42:00 AM
From: Brad	Read Replies (1) \| Respond to of 6654

To ALL: CVIA Announcement out this morning!!! Here is the text... Corporate Vision Receives Funding For First Acquisition TULSA, Okla.--(BUSINESS WIRE)--Jan. 13, 1998--Corporate Vision Inc. (OTC BB: CVIA - news) today announced they are in the process of completing Agreement details with Western Oil and Tire Distributors Inc. (WOTD). WOTD will provide corporate management, operational facilities and acquisition procurement. CVIA will provide initial funding and investor relations personnel. Corporate Vision Inc. also announced they have received $500,000 to participate in the purchase of the first acquisition for the post-merger company WOTD. This amount includes CVI's commitment to provide operational expenses under the merger agreement. Corporate Vision indicated this funding was obtained through a Regulation S offering. However, negotiations are underway to have private long-term investors buy out the debenture holders'interests, and CVI does not believe this type of financing will be necessary again. Corporate Vision interim CEO Jack Arnold said, ''In order to accomplish our goal of rapidly launching this new program, we determined this method of funding was our only available alternative for this first acquisition. Capitalization of this nature was our least desired option, but it will expedite the process of bringing long-term value back to CVIA.'' Arnold continued saying, ''In order to finance additional near-term acquisitions, we are seeking to increase the number of authorized shares to 150 Million. In regard to long-term growth, we have made positive contact with a number of private entities interested in investing in WOTD beyond this first step. ''To put our strategy in context, consider that we have taken a public shell with no asset base, reconstructed it to be the foundation for a fast growing acquisition based public corporation, and are now putting the entire plan into motion with this initial funding. Once we get the operation in motion it will be considerably easier to keep it moving forward. The credentials and experience of the industry experts we are working with enable me to firmly believe in the future of this company. I truly hope the shareholders will commit to seeing this through with us.'' Corporate Vision Inc., upon completion of their Agreement with WOTD will change their name to Western Oil and Tire Distributors, Inc. and apply for the symbol WOTD. Corporate Vision Inc. is a fully-reporting company with the SEC. This press release contains forward-looking statements with respect to the results of operations and business of the company that involves risk and uncertainties. Risks and uncertainties of the Company are detailed from time to time in the company's filing with the Securities and Exchange Commission. Corporate Vision can be reached at 918/747-CVIA (2842), by e-mail at: info@cvia.com or through our Internet address: cvia.com Contact: Corporate Vision, 918/747-CVIA (2842) info@cvia.com or cvia.com ------------------------- Brad