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ITEC ATTRACTIONS RAISES $3 MILLION IN IPO

 ITEC ATTRACTIONS RAISES $3 MILLION IN IPO
 SALT LAKE CITY, Nov. 3 /PRNewswire/ -- International Tourist


Entertainment Corp. (ITEC Attractions) announced today that approximately $3 million has been raised in its initial public offering. This amount exceeds the required minimum offering. Proceeds released from escrow will be used to begin financing the development of one or more IMAX (giant screen) theater complexes at popular tourist destinations.
 The company's stock will begin trading on NASDAQ (symbol: ITEC) following the final closing. The offering period ends Nov. 17, 1992, which period may be extended until Dec. 17, 1992. Units, consisting of one share of common stock and one warrant exercisable at $6.50, are being offered at the price of $5.50 each.
 Gene Morgan Financial of Los Angeles is managing the underwriting.
 -0- 11/3/92
 /CONTACT: Kelvyn H. Cullimore, president of ITEC Attractions, 800-874-6251; or Gene Morgan, president of Gene Morgan Financial, 800-468-6329/ CO: International Tourist Entertainment Corp.; Gene Morgan Financial ST: Utah IN: ENT SU: OFR


JB-LS -- LA022 -- 2173 11/03/92 16:13 EST
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Publication:PR Newswire
Date:Nov 3, 1992
Words:175
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