American Casinos International Inc. Acquires 95% of Infotex Holdings, Inc.BOCA RATON Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Fla.--(BUSINESS WIRE)--March 23, 1999-- Share Exchange Value Exceeds $41,000,000 American Casinos International Inc. (OTC/BB: ACII ACII Associate of the Chartered Insurance Institute ACII Allergy and Clinical Immunology International ) announced today that it has agreed to acquire approximately 95% of the issued and outstanding shares of Infotex Holdings Ltd. in exchange for approximately 5,200,000 of its shares. Based on the current market price of ACII, the transaction is worth approximately $41,000,000. The present shareholders of ACII will retain a 32% interest in the company. Upon completion, ACII will have approximately 7,600,000 shares issued and outstanding. To better reflect its new business direction, the Company will change its name to Enterprise Solutions, Inc. and apply for a symbol change and a new cusip number CUSIP Number An identification number assigned to all stocks and registered bonds. The Committee on Uniform Securities Identification Procedures (CUSIP) oversees the entire CUSIP system. Notes: This system is used in the U.S. and Canada. . Infotex is in the business of contracting with various government agencies for equipment supply, training and service contracting, the marketing of a European Year 2000 solution product for personal computers for which it has exclusive distribution rights, secure network development, technology systems integration, information transfer services and application development for both the government and commercial businesses. Infotex's executive office is located in Springfield, Va. Subsidiaries are located in Virginia Beach Virginia Beach, resort city (1990 pop. 393,069), independent and in no county, SE Va., on the Atlantic coast; inc. 1906. In 1963, Princess Anne co. and the former small town of Virginia Beach were merged, giving the present city an area of 302 sq mi (782 sq km). , Va., Alexandria, Va., and Frankfurt, Germany. Statements contained in this press release that are not historical facts are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. as that term is defined in 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 subject to risks and uncertainties that can cause actual results to differ materially from estimated results. Such risks and uncertainties are detailed in the Company's filings with the various Regulatory Authorities having jurisdiction. |
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