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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Joe Copia who wrote (7974)	9/18/1998 10:03:00 AM
From: Brett Fleischman	Respond to of 25711

CBNR news looks pretty good.... Moving nice on buys this morning Union Group Complete Agreement with Cabec Energy Corporation PR Newswire - September 17, 1998 12:54 CBNR %OIL V%PRN P%PRN DALLAS, Sept. 17 /PRNewswire/ -- The Union Group, Inc., announced that it has completed and executed its agreement with Cabec Energy Corporation (OTC Bulletin Board: CBNR) to acquire 100% of the stock of the Fluer/David Corporation, 100% of the stock of Wyoming Pipe and Tool Corporation, and the Cooper Investment Interest. The Union Group acquired these companies in exchange for issuing 100% of its outstanding stock, which equaled 37,810,321 shares, to Cabec. The Union Group stock will be distributed to shareholders of Cabec in the form of a dividend as soon as the dividend has proper regulatory approval. A record date will be announced. The Union Group is a newly formed corporation that was organized for the sole purpose of acquiring the above companies, which were the original assets of Cabec Energy. These transactions are the result of negotiations that started approximately 1 year ago and culminated when Cabec shareholders voted to acquire Plastic Pallet Production, Inc. Plastic Pallet Production, Inc. will continue to operate as a wholly owned subsidiary of Cabec Energy. Union Group Chairman Ralph Curton, Jr. noted, "We are pleased that we have structured a deal for our shareholders where the shareholders of Cabec Energy will receive an identical amount of shares (1 for 1) in the Union Group that they own of Cabec as of the record date. This is not an exchange. It is a stock dividend. When the shares are distributed, shareholders will own shares in both Cabec and The Union Group. The Union Group shares are in addition to the shares of Cabec, not in exchange for Cabec shares or instead of Cabec shares. This allows our shareholders to participate fully in two distinct industries with separate management at no additional cost to shareholders." Upon completion of the registration statement, The Union Group will receive a trading symbol, the shares will become free trading, and will be distributed to the shareholders of record of Cabec Energy Corporation and will trade on the NASDAQ system. All shares of Cabec Energy Corporation purchased and owned prior to and as of the record date will qualify for the dividend of the Union Group shares. Until completion of the registration statement, the shares of the Union Group will be held by the transfer agent in the name of Cabec Energy Corporation and are subject to the restrictions under rule 144. For more information please call 888-269-9512. SOURCE The Union Group, Inc. /CONTACT: Jeff Van Putten of The Union Group, Inc., 303-665-8523/ (CBNR)