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 : Jax International (JAXI) -- Ignore unavailable to you. Want to Upgrade?

To: Dan Thomas who wrote (2385)	12/3/1998 8:38:00 AM
From: grw5	Read Replies (1) \| Respond to of 2430

Read it and weep----- NEW YORK--(BUSINESS WIRE)--Sept. 16, 1998--James T. Howard Wednesday announced that the terms of a merger agreement between Caviar Plus Ltd. and JAX International Inc. (OTC BB:JAXI - news) have been established in principle. James T. Howard, CEO and chairman of the board, Joseph Francella, president and director, and Verna Howard, secretary and director, tendered their resignations Sept. 9, 1998, based on consummation of the terms of the merger agreement to be finalized no later than 1/31/99. The plan of merger calls for an exchange of shares of Jax's current outstanding shares of stock, of no more than one share of the new Jax for every ten existing shares of Jax common stock, currently 14,659,807. Also, existing Caviar Plus Ltd. shareholders will receive no more than two shares of new Jax common stock for every one existing share of Caviar Plus Ltd., currently 5,550,000, totaling approximately 11,000,000 shares. Once formal agreements are executed, Jax and Caviar plan to file a registration statement with the Securities and Exchange Commission. In addition, the agreement will effect a change of name. Caviar Plus Ltd. is a New York City based direct importer of fine Russian caviar and related specialty food items. Currently, Caviar operates strictly as a wholesaler of these specialty food products to retailers (such as specialty food stores, hotels and restaurants), distributors and other end-users. The new JAX International Inc. corporate offices are located at 350 Park Avenue, New York, NY 11101. Except for the historical information contained herein, this press release contains forward looking statements that involve a number of risks and uncertainties. Actual results could differ materially from those indicated by such forward looking statements due to a number of factors including, but not limited to, the level of consumer spending, the strength of the retail market, interest rates and the availability of financing. Investor Relations available Friday Sept. 18, 1998, only, from 12:00 pm - 4:00 pm 877/603-4381. Contact: JAX International Inc. Investor Relations, 877/603-4381