Auxer Announces Queen Air Signing.Business Editors TRAVERSE CITY, Mich.--(BUSINESS WIRE)--April 16, 2003 The Auxer Group, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : AXGI) announced today that Viva Airlines, Inc., its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. and Queen Air, Aeronaves Queen, S. A. have signed the agreements providing for the acquisition of 49% of the stock of Queen Air. Queen Air is a Dominican Republic Corporation and air carrier. A formal closing conference will be held during the first full week of May as previously announced. Robert J. Scott, President & 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. of Auxer, said "The formal signing of the documents evidencing our agreement was completed April 14, 2003. The effective date of the agreement is April 9, 2003." Mr. Scott further stated, "We are pleased to have brought this agreement to closure. We look forward to bringing our Viva/Queen business plan into operation." Forward-looking statements in this release are made pursuant to the "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. " provisions of the Private Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reforma Ct of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, competition, new products, and technological changes, intellectual property rights and other risks. |
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