CyberAmerica Executes Letter of Intent.SALT LAKE CITY--(BUSINESS WIRE)--Feb. 26, 1997--CyberAmerica Corporation ("CyberAmerica"), a Nevada corporation A Nevada Corporation is a corporation chartered under the laws of the U.S. state of Nevada. Nevada, like the state of Delaware (See Delaware corporation), is well known as a corporate haven. executed a Non-Binding Letter of Intent today for the sale of 10 acres of real estate containing the existing gas station, motel and retail store located in Oasis, Nevada Oasis is a small town located in eastern Elko County, Nevada, at the junction of Nevada State Route 233 and Interstate 80, approximately 40 miles (64 km) west of the Nevada border with the state of Utah. . The proposed sale price of the property is $5,000,000 at 6% per annum Per annum Yearly. , payments to be made only from the revenue of a joint venture established to operate retail operations. Accordingly, this sale is speculative. However, management remains optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op that it will result in a profitable venture for both parties. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the Letter of Intent, CyberAmerica will enter into the joint venture with the unaffiliated purchaser for the retail development of the property. CyberAmerica first acquired the property in Oasis, Nevada in December 1995 and owns over 1,100 acres of additional land in that area. CONTACT: CyberAmerica Corp., Salt Lake City Melinda Druce, 801/575-8073 Fax: 801/575-8092 |
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