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EVRO shareholders approve name change and increase in authorized shares.

LAKELAND, Fla.--(BUSINESS WIRE)--Oct. 15, 1996--EVRO Corp. ("EVRO" or the "company") (NASDAQ:EVRO) announced Tuesday that its shareholders approved a name change for the company to "Channel America Broadcasting Inc." and approved an increase in the company's authorized common and preferred shares at the company's special shareholders' meeting held Friday, Oct. 11, 1996.

The company's authorized common stock was increased from 2,500,000 to 100 million shares and its authorized preferred stock was increased from 1,250,000 to 25 million shares, each with a par value of $0.001. The increase in authorized shares will give the company added flexibility to act in the future with respect to raising equity capital to finance the implementation of the company's business plan, to consummate the acquisitions of The Sports & Shopping Network Inc. and Channel America Television Network Inc., and to facilitate other asset purchases or strategic acquisitions.

The shareholders also reelected Thomas L. Jensen, Stephen H. Cohen, D. Jerry Diamond, and Max P. Cawal as directors and approved the purchase of the fractional shares resulting from the reverse stock split of Jan. 26, 1995. Approximately 93% of the common shares outstanding and approximately 91% of the preferred shares outstanding were voted at the meeting, with all five proposals passing.

The board of directors held a meeting after the shareholders' meeting and appois, pocket watches, and jewelry for sale to home shoppers. It is anticipated that CATV will resume its entertainment programming during the fourth quarter of 1996 offering a choice between shopping and entertainment broadcasting to prospective affiliates, on a 24 hour per day basis.

CONTACT: EVRO Corp., Lakeland

Thomas L. Jensen, Chairman, CEO, and President

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Publication:Business Wire
Date:Oct 15, 1996
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