Power Exploration Announces Property Acquisition.Business Editors FORT WORTH, Texas--(BUSINESS WIRE)--March 8, 2000 Power Exploration Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: PWRX) Wednesday announced the acquisition of Lincoln Health Fund Inc., and its primary asset, a 10.5 acre tract of land located on the east-side of Fort Worth. The terms of the agreement by which Power Exploration 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. , will acquire complete ownership of Lincoln Health Fund Inc., a Delaware corporation A Delaware corporation is a corporation chartered in the U.S. state of Delaware. Delaware is well known as a corporate haven, and thus, over 50% of US publicly-traded corporations and 58% of the Fortune 500 companies are incorporated in the state. , and the real estate holdings of Lincoln, provide that Power will issue 600,000 shares of its authorized but unissued common stock, bearing a Rule 144 restrictive legend, to Genesis Capital Corp. of Nevada, the sole shareholder of Lincoln. The respective board of each corporation have approved the transaction and closing is expected to take place this month. The real property is located on Meadow Brook Meadow Brook may refer to the following:
This news release includes forward-looking statements that involve risks and uncertainties. The forward-looking statements in this release are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Actual results may differ materially due to a variety of factors, including without limitation the company's ability to produce and market products and/or services and other risks detailed from time to time in the company's reports filed with the Securities and Exchange Commission. |
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