1).
PROFILE
NuOasis Resorts, Inc. is a leisure and entertainment holding company. The Company's operations and development-stage activities include international gaming, food manufacturing, and commercial real estate. NuOasis's wholly owned subsidiary, NuOasis International, Inc., owns 70% of Cleopatra Palace Limited, 70% of Cleopatra Hammamet Limited, and Cleopatra Cap Gammarth Limited.
2)
OASIS RESORTS INTERNATIONAL INC. EXECUTES CONTRACT WITH WINTER D
e La Mare AIA, Architect for the Design of the Oasis Hotel & Casino Inc. in Oasis, Nevada
Business Editors/Gaming Writers
WENDOVER, Nev.--(BUSINESS WIRE)--April 7, 1999--Oasis Resorts International Inc. (OTC BB:OAIS) a Hotel and Casino operator which operates the Casino Cleopatra CapGamarth, Casino Cleopatra Hammamet, and Resort at CapGammarth, in Tunisia, executes contract with Winter De La Mare for the design of a Hotel & Casino, to be built, in Oasis, Nevada. Winter De La Mare's contract calls for the design of an $80 MILLION DOLLAR MULTI-MIXED FAMILY RESORT.
The Oasis Hotel & Casino will be comprised of a Flagship Western-Theme 500-room hotel, with two twin 250-room towers, a 30,000 sq. ft. Casino, 5,000 sq. ft. Restaurant, Sports Bar, Entertainment Center, Multi-Plex Movie Theater, Bowling Alley, Miniature Golf, Arcade, and Child Care Center. The design of the hotel and casino will capture the Western theme of the Nevada countryside and take into account the natural beauty of the surrounding mountains and valley.
The Oasis Project is a destination resort development that overall consists of approx. 1,079 acres of resort development located 27 miles west of Wendover, Nev., around the Intersection of I-80 and State RD. 233. Oasis, Nev., lays in a valley between the Humboldt National Forest and the Ruby Mountains. The destination resort is a multi-designed resort & hotel family-oriented vacation resort with commercial, residential and recreational events utilizing the natural environment of the Nevada countryside for the development of outside recreational activities such as an outdoor rodeo arena with riding trails, petting ranch, Moto-Cross & Enduro races and an outdoor amphitheater for concerts. Note: Certain statements made herein that are not historical are forward-looking with the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Investors who seek more information about the Company's business and relevant risk factors may wish to review the Company's periodic report files with the Securities and Exchange Commission including, but not limited to, its most recent Annual Report on Form 10-KSB and Quarterly Report on Form 10-QSB.
NYSE/AMEX delayed 20 min. NASDAQ delayed 15 min.
3).
OASIS RESORTS INTERNATIONAL INC. OBTAINS LOAN COMMITMENT TO ACQU
ire Hotel & Casino Properties
Business Editors/Gaming Writers
WENDOVER, Nev.--(BUSINESS WIRE)--April 1, 1999--Oasis Resorts International Inc. (OTC BB:OAIS) Thursday announced that its 75%-owned subsidiary, Cleopatra Palace Resorts and Casinos Limited, has received a commitment from Morgan Weinstein & Co. to fund a One Hundred Million Dollar ($100,000,000) loan to allow Cleopatra to acquire and complete the real estate complex including the Hotel Le Palace presently operated by Cleopatra's World Inc. (a 60%-owned subsidiary of Oasis) and the Cap Gammarth Casino property.
The commitment includes the funds required to equip the casino and provide working capital. The loan will also provide funds to pay off indebtedness of Cleopatra Hammamet Casino and provide working capital for the casino.
The company said today that it deposited on Friday with the lender the sum of $100,000 and expects to complete the loan documentation and proceed to funding during the next 90-180 days.
According to the terms of the loan commitment, the company's subsidiaries will be able to draw down on the $100,000,000 facility at the rate of $4 million per month as needed to complete its Cleopatra-themed projects.
Oasis Resorts International Inc. is a hospitality and gaming company with development-stage and operational properties located in the U.S. and North Africa, with plans to expand into the Caribbean and to Asia during fiscal 1999.
Note to Editors: Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties.
Investors who seek more information about the company's business and relevant risk factors may wish to review the company's periodic reports filed with the Securities and Exchange Commission including, but not limited to, its most recent Current Report(s) on Form 8-K, its Annual Report on Form 10-KSB and Quarterly Report on Form 10-QSB. Such disclosure information can be accessed from the "Edgar" database through the Internet at sec.gov.
NYSE/AMEX delayed 20 min. NASDAQ delayed 15 min.
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