Canton Moves Forward With the Sale of its Newly Acquired Oasis Property.SALT LAKE CITY--(BUSINESS WIRE)--Jan. 2, 1996--Canton Industrial Corp. ("CIC CIC circulating immune complexes. CIC Circulating immune complexes. See Immune complexes. "), through its wholly-owned subsidiary, Oasis International Hotel & Casino Inc. ("OIC "Oh, I see." See digispeak. (chat) OIC - oh, I see. "), entered into a contract with Oasis Hotel, Resort & Casino I Inc. ("OHCI OHCI - Open Host Controller Interface "), a wholly-owned subsidiary of United Entertainment Systems Inc. ("UES UES UNE (University of New England) Economics Society UES Upper East Side (Manhattan, NY) UES Upper Esophageal Sphincter UES Unified Energy Systems of Russia UES Waukesha, Wisconsin "). This contract provides for the sale of an option to purchase an approximate 10-acre parcel of the 1120 acres in northeastern Nevada OIC recently acquired. OIC also entered into an identical arrangement with Oasis Hotel, Resort & Casino II Inc. ("OHCII"), a wholly-owned subsidiary of BRIA Communications Corp. ("BRIA"). UES and BRIA, through their respective subsidiaries, have each agreed to pay 300,000 shares of their publicly traded common stock. In addition, OHCI and OHCII will each issue 1,000,000 shares of their unregistered common stock to CIC or its subsidiary, OIC. The purchase price on both parcels has been tentatively set at $40 million apiece a·piece adv. To or for each one; each: There is enough bread for everyone to have two slices apiece. [Middle English a pece : a, a; see a . UES, BRIA and CIC are in the process of determining the improvements necessary to the respective parcels. The two parcels UES and BRIA have contracted to purchase are only two of five included in the master plan for the Oasis property. This plan, still in the development stage, revolves around a destination resort consisting of five major casino-hotels, a world class health spa, and a 36-hole championship golf course. The development of the Oasis destination resort is subject to obtaining the proper zoning and necessary financing to develop the property. The option agreement will be effective Dec. 29, 1995. CONTACT: Canton Industrial Corp. Victoria Gold, 800/574-4179 (Investor Relations Investor relations The process by which the corporation communicates with its investors. ) Steve Christensen, 801/575-8073 (President) |
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