Auxer Group Approves Formation of New Entity for Purpose of Acquiring Internet Based Business.WAYNE, NJ--(BUSINESS WIRE)--July 22, 1999-- The Auxer Group, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: AXGI) announced today that the Board of Directors has approved the formation of a new entity with a focus on internet related acquisitions and development. The company intends to enter into discussions with several groups for the purpose of acquisition and/or purchase. "With recent successful launching of Auxer's internet sites, we are being approached by so many groups with exciting businesses involved with the Internet that we felt it was time to make a more significant investment in this marketplace. We believe several of the acquisitions and concepts that have been presented to us are in line with our fundamental investment strategy and represent strong potential for Auxer's investor's. While the company remains committed to its core business in automotive related products, I believe this is another strong opportunity that should not be overlooked," said Mr. Eugene Chiaramonte, Chairman of The Auxer Group. ABOUT THE COMPANY The Auxer Group, Inc. (OTC-BB "AXGI") is an investment holding company that is comprised of three wholly-owned subsidiaries: Harvey Westbury Corporation, CT Industries and Hardyston Distributors. Auxer Group is a manufacturer, wholesaler and distributor of automotive, marine and aviation after-market and hardware products. These products are currently sold to major retail chains around the country including, PEP BOYS, MANNY Manny may refer to: In nobility:
Western Auto originally started as a mail order business for replacement auto parts. ), WAL WAL Sierra Leone (international vehicle ID) WAL Walloon WAL Weighted Average Life WAL Wide Angle Lens WAL Write Ahead Log WAL WATS Access Line WAL Watertown Arsenal Laboratories (Massachusetts) MART, KMART, WEST MARINE just to name a few. The Auxer Groups' most well known products include Easy Test Testers and Air Conditioning air conditioning, mechanical process for controlling the humidity, temperature, cleanliness, and circulation of air in buildings and rooms. Indoor air is conditioned and regulated to maintain the temperature-humidity ratio that is most comfortable and healthful. Accessories, GARRY'S ROYAL SATIN WAX AND POLISHES (a 70 year old superior car and marine wax line), FORMULA 2000 ULTIMATE (A high performance engine treatment). 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 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. 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. For more information please visit our websites at www.auxer.com |
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