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GALVEST ACCEPTS PROPOSAL FOR STOCK PURCHASE

 GALVEST ACCEPTS PROPOSAL FOR STOCK PURCHASE
 HOUSTON, Feb. 14 /PRNewswire/ -- GalVest Inc. (NASDAQ: GALV)


announced today it has accepted, subject to definitive documentation and final board approval, a proposal from two individuals to purchase 3 million shares of newly issued GalVest common stock for 58 cents per share, in connection with which GalVest would issue such individuals an option to acquire 1,700,000 additional shares for 68 cents per share. The transaction is scheduled to close on or before Feb. 19, 1992.
 -0- 2/14/92
 /CONTACT: David L. Pratt of GalVest, 713-759-9052/
 (GALV) CO: GalVest Inc. ST: Texas IN: SU:


JT -- NY082 -- 0440 02/14/92 18:44 EST
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Feb 14, 1992
Words:111
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