Ernst & Young completes audit of Haas Neuveux & Co. acquisition target -- acquisition scheduled to close April 26, 1997.GENEVA--(BUSINESS WIRE)--April 14, 1997--Ernst & Young has completed its audit of B.C. Chrysotile chrysotile: see serpentine. chrysotile Fibrous variety of the magnesium silicate mineral serpentine; it is the most important asbestos mineral. Individual fibres are white and silky, but the aggregate in veins is usually green or yellowish. Corp. and has reported total assets in that company of $4,603,700 with $4,361,292 being property, plant and equipment. This clears the way for Haas Neuveux & Co.'s complete acquisition of all the assets of BCCC BCCC Baltimore City Community College (Maryland) BCCC Butler County Community College BCCC Bell Centre for Creative Communications BCCC Broward County Convention Center (Fort Lauderdale, Florida) . An earlier study conducted by Eaton, Ferriquet & Windsor Ltd. concluded that the proposed acquisition represents an earnings potential for Haas Neuveux & Co. of $10 million per year. With the project evaluation, industry analysis, market outlook and audited financial statements now completed, Haas Neuveux & Co.'s acquisition of all of the assets of B.C. Chrysotile Corp. is scheduled for April 26, 1997. The chief asset of BCCC is its Cassiar Mine in British Columbia. That property is one of the world's largest repositories of long fiber Chrysotile, an industrial mineral with a strong and growing global market. It is additionally a major supplier of Nephrite nephrite: see jade. nephrite Gem-quality, usually green silicate mineral in the tremolite-actinolite-ferrotremolite series of amphiboles. It is the less prized but more common of the two types of jade and may be distinguished from jadeite by its Jade. Current estimates are for cash flow to exceed $90 million from the production of long fiber Chrysotile alone. Haas Neuveux & Co. is traded on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. under the symbol HANX. CONTACT: Director of Investor Relations Investor relations The process by which the corporation communicates with its investors. Michael Trigg, 888/682-0922 |
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