K-7 CAPITAL ANNOUNCES TERMINATION OF LETTER OF INTENT
K-7 CAPITAL ANNOUNCES TERMINATION OF LETTER OF INTENT SHERMAN OAKS, Calif., June 12 /PRNewswire/ -- K-7 Capital Corp.
(OTC Bulletin Board: KSCC) announced the termination of a letter of intent dated May 7, 1992, between it and Patriot Airlines Inc., a charter air cargo carrier headquartered in Redwood City, Calif. The two companies had entered into preliminary negotiations regarding a proposed transaction whereby K-7 Capital would acquire all of the outstanding shares of Patriot Airlines in exchange for newly issued shares of K-7 Capital.
The negotiations were terminated so as to allow each company the ability to continue pursuing its separate business objectives. K-7 Capital will resume its efforts to identify and evaluate privately held companies as merger candidates. -0- 6/12/92 /CONTACT: William Barnett, corporate secretary of K-7 Capital, 818-789-2688/ (KSCC) CO: K-7 Capital Corp.; Patriot Airlines Inc. ST: California IN: SU:
CH-AL -- LA017 -- 9913 06/12/92 20:00 EDT
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|Date:||Jun 12, 1992|
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