American Vantage Companies Announces Refund of G & L Capital to Investors.LAS VEGAS--(BUSINESS WIRE)--July 16, 1998--American Vantage Companies (Nasdaq:ACES) Thursday announced that it is refunding Reimbursing funds in restitution or repayment. The process of refinancing or borrowing money, ordinarily through the sale of bonds, to pay off an existing debt with the proceeds derived therefrom. money to the investors in its 64 percent-owned subsidiary, G & L Acquisition Corp. The money raised by the subsidiary was intended for the purchase or establishment of a gaming or leisure business and was to be invested within an 18-month period. The company was not able to find, within the permitted time period, an investment which met specific investment criteria. As a result, investors will receive a refund TO REFUND. To pay back by the party who has received it, to the party who has paid it, money which ought not to have been paid. 2. On a deficiency of assets, executors and administrators cum testamento annexo, are entitled to have refunded to them legacies of their original investments in full. American Vantage has a gaming consulting contract with the Table Mountain Tribe tribe [Lat., tribus: the tripartite division of Romans into Latins, Sabines, and Etruscans], a social group bound by common ancestry and ties of consanguinity and affinity; a common language and territory; and characterized by a political and economic for the Table Mountain Casino casino or cassino (both: kəsē`nō). 1 Card game played with a full deck by two to four players. Its origins are obscure though it probably traces back to the Italian game of Scopa. located near Fresno, Calif. The Table Mountain Tribe is one of six tribes which have signed compacts with the state of California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). . This news release may contain 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. , which are subject to risks and uncertainties, such as the legal status of Indian gaming in the state of California. The company's actual results may differ materially from those described in any forward-looking statements. Additional information concerning potential risk factors that could affect the company's business and financial results are included in the company's filings with the Securities and Exchange Commission. They can also be found on the company's Web site at www.aces1.com and on the SEC's Web site at www.sec.gov.
CONTACT: American Vantage Companies, Las Vegas
Audrey Tassinari, 702/227-9800
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