Alanco Announces Termination of Acquisition Letter of Intent.SCOTTSDALE, Ariz.--(BUSINESS WIRE)--May 20, 1999-- Alanco Environmental Resources Corp. (Nasdaq:ALAN) Thursday announced termination of its April 30, 1999 Letter of Intent proposal to acquire ASI ASI, n See Anxiety Sensitivity Index. Communications Inc. Alanco Chairman and Chief Executive Officer, Robert R. Kauffman, stated, "Unfortunately, the parties were unable to agree on final terms of the proposed transaction, resulting in our inability to proceed in accordance with the original Letter of Intent. "We will continue efforts to redeploy our substantial assets and strategically refocus the company. Presently, Alanco is continuing to generate positive cash flow with strong sales growth forecast for both the China CDSI CDSI Comisión de Estudio para el Desarrollo de la Sociedad de la Información CDSI Cross Domain Semantic Integration CDSI Credit Default Swap Index and Nebraska AEMI AEMI Auction & Electronic Market Integration (American Stock Exchange) AEMI Annual Exchange of Military Information subsidiaries." Alanco Environmental Resources Corp. is an Arizona corporation headquartered in Scottsdale, primarily engaged in environmental products businesses. Alanco is traded on the NASDAQ stock market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbol ALAN. This press release contains statements that may be considered forward-looking statements within the meaning of 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. Such forward-looking statements are inherently uncertain, and the actual results may differ from management's expectations. |
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