Immediate Entertainment Group Inc. makes announcement.LONDON and FRANKFURT--(BUSINESS WIRE)--April 2, 1997--Immediate Entertainment Group Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:IEGP) (formerly Diversified Research Inc.), 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. , trading on the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). Electronic Bulletin Board under the symbol (IEGP) with offices in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Germany, has announced a private placement of a minimum of 50,000 shares and a maximum of 300,000 shares at a price of $3.00 per unit in order to raise funds to complete the take-over of the Immediate Music Corp. of Delaware, which was effectuated March 1, 1997. The founder of the Immediate Music Corp. is music industry veteran Tony Calder, who initially was involved with the day-to-day management of The Rolling Stones and Marianne Faithful and setting up Immediate Records in the late sixties, thus launching the careers of P.P. Arnold, Humble Pie, Small Faces, Nice and the Amen Corner. Throughout the years Calder has proven his marketing expertise, which was instrumental in the world-wide exposure of Black Sabbath, Eddy Grant, Live Bunny and UB40. While the current economics are jeopardizing start-up companies in the entertainment field, Calder believes that the momentum of the Immediate name and the strength of the players involved makes a big difference to the industry. Chairman Evert e·vert v. To turn inside out or outward. evert to turn inside out; to turn outward. Wilbrink announced that Immediate Entertainment Group Inc., upon completion of the entire acquisition will continue trading as the Immediate Entertainment Group Inc. The company will run Immediate Records and its international A&R out of London, while logistics are coordinated from Germany where Immediate owns a studio complex, a distribution center and manufacturing facilities. Wilbrink expects to announce further acquisitions to strengthen the company's publishing wing and future ventures into telecommunication, Internet activities and cyber radio in the near future. The company will prepare additional funding through a private placement with a U.S. investment banking firm. The company will also seek a possible merger and/or takeover target Takeover target A company that is the object of a takeover attempt, friendly or hostile. takeover target See target company. , within the industry, to expand into the U.S. entertainment market. CONTACT: Howard Bronson & Associates, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212/867-6160 or Immediate Entertainment Group Inc. Tony Calder, 011 44 171 978-6778 (London) Mickey Berresheim or Evert Wilbrink, 011 49 6074 89180 (Germany) |
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