Auto Network USA Announces Letter of Intent to Open Canadian Office.SCOTTSDALE, Ariz.--(BUSINESS WIRE)-- Sept. 9, 1998--Auto Network USA (AUTONET)(OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:ANWK), the fastest growing, publicly held wholesaler of used luxury automobiles in the U.S., announced today that it has signed a letter of intent to establish an office in Canada. The Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. office will be AUTONET's third location, adding to the home office in Scottsdale, Ariz. and their first expansion office in Albuquerque, N.M. Discussions continue with a number of other possible U.S. locations. Mike Stuart Mike Stuart (August 31, 1980) in Rochester, Minnesota is a professional ice hockey player who currently plays defense for the National Hockey League's St. Louis Blues. He was drafted by the Nashville Predators in 5th round, 137th overall in the 2000 NHL Entry Draft , President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , said, "Canada is an important element for our continued growth and represents a significant opportunity for both importation and exportation, depending on the particular products involved." Auto Network USA (AUTONET) is the fastest growing, publicly-held wholesaler of used late model and luxury automobiles in the country. The company is capitalizing on the billion-dollar wholesale market by focusing operations in strategic segments of the country. AUTONET's strategy is to gain market share in key urban areas by acquiring and consolidating the independent automobile wholesaling companies. This strategy will provide the company with access to a large and growing volume of high-quality late model and luxury automobiles. It will also allow AUTONET to take advantage of geographical disparities in the value of cars. Financial Statements in this press release (if any) other than historical facts are "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and 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. The company intends that such statements about the company's future expectations, including future revenues and earnings, and all other 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. be subject to the safe harbors 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. created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the company's actual results could differ materially from expected results.
CONTACT: M&A West, Inc.
Scott Kelly, 650/588-2678
www.mawest.com
|
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion