Acadia Group, Inc.--Chairman Announces Board of Directors Operational Direction.Business Editors AUBURN, Maine--(BUSINESS WIRE)--September 29, 2000 Acadia Group, Inc. d/b/a Acadia Business Group, Inc., (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : ANHS ANHS American Natural Hygiene Society ANHS Aliso Niguel High School ANHS Australian Natural History Safari ANHS Association for Nepal and Himalayan Studies ANHS Anchorage Neighborhood Housing Services, Inc ANHS Adult Night High School ) announced that the Board of Directors held a Special Meeting on September 28, 2000 and unanimously voted to cease its operations effective today. The decision was due to the demand and pressures for payment by its lender, Citizens Bank of New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). , of the Corporation's obligations of a Line of Credit in the amount of $1,093,154 and a term note for $212,081. Emile Clavet, Chairman, also reports that the Board gave further approval for the Corporation to continue to entertain and explore every available reconciliatory avenue to preserve the value of its assets and to prevent discontinuation dis·con·tin·u·a·tion n. A cessation; a discontinuance. Noun 1. discontinuation - the act of discontinuing or breaking off; an interruption (temporary or permanent) discontinuance of operations. The Corporation cannot provide any assurances that alternatives will be successful under its present financial condition. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement Under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: This press release includes forward-looking statements regarding the present intentions and expectations of management of the Corporation. Certain factors beyond the Corporation's control could cause results to differ materially from those in these forward-looking statements. These risk factors include evolving industry standards, rapid technological changes, government regulations, healthcare reform, market conditions and competition in the market for the Corporation's services, and are more fully described in filings with the Securities and Exchange Commission. |
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