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CHARCOALS HOLDING BECOMES EFFECTIVE WITH THE SEC AND ANNOUNCES APPOINTMENT

 CHARCOALS HOLDING BECOMES EFFECTIVE WITH THE SEC
 AND ANNOUNCES APPOINTMENT
 LAUDERHILL, Fla., May 20 /PRNewswire/ -- Charcoals Holding Corporation announced today that it received an effective date of April 30, 1992 from the Atlanta regional office of the Securities and Exchange Commission relating to the distribution of 250,000 shares of common stock and 750,000 class A common stock purchase warrants to the holders of record of CCC common stock as of April 30, 1992. Each class A warrant entitles the holder to purchase two shares of common stock of the company at an exercise price of $3 per share for a period of 36 months from the April 30, 1992 effective date of the prospectus.
 The company's President, Michael Neiman, also announced the appointment of Augusto Cervera as executive vice president and chief financial officer of Charcoals Holding Corporation. Cervera is one of the original partners of the corporation and served as an officer and director from its inception until 1989 when he sold his interest to pursue other ventures. In August of 1991 Cervera rejoined the company as a consultant and as of January 1992 has been elected to serve on the board of directors and as chief financial officer, effective April 30, 1992.
 Cervera attended the University of Panama in his native country of Panama and has a bachelor's degree in business administration. He has distinguished himself in a variety of financial positions with various companies. From 1975 to 1977 he served as controller and front office manager for the Miami Colonial Hotel. Subsequently in 1977 he joined the Mackle Co., and served in the capacity of investment portfolio manager until 1988. In April of 1988 Cervera founded Digiterk Imaging Inc. A supplier of computer generated color separation for the printing industry, Cervera served as chief operating officer until he departed in 1990 to join Performance Marketing, a consulting firm in various industries including the restaurant industry. In 1981, he was treasurer at the Kentucky Horse Center, a publicly traded company in Lexington, Ky.
 -0- 5/20/92
 /CONTACT: Michelle Sotnikow of Howard Bronson & Company, Inc., 212-867-6160, for Charcoals Holding/ CO: Charcoals Holding Corporation ST: Florida IN: SU: PER


TQ-OS -- NY073 -- 2355 05/20/92 13:53 EDT
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Publication:PR Newswire
Date:May 20, 1992
Words:371
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