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KAEMPEN USA RESCINDS MERGER WITH LANEX

 KAEMPEN USA RESCINDS MERGER WITH LANEX
 ANAHEIM, Calif., Dec. 10 /PRNewswire/ -- The following is being


issued today by Kaempen USA Inc.:
 The board of directors of Kaempen USA Inc., a Wyoming corporation ("KUSA"), has concluded an in-depth investigation concerning the circumstances surrounding its merger agreement dated April 19, 1990 with Lanex Properties Inc., a Nevada corporation ("Lanex") and certain transactions in securities of KUSA that were issued in connection with the purported merger, thereafter from the date of the purported merger through the present time. In light of the information provided to the board of directors of KUSA the board declared the transaction rescinded and abandoned and ordered the cancellation of shares of common stock issued to certain promoters and the previous shareholders of Lanex effective retroactively to inception or April 19, 1990. The board has also ordered the cessation of any and all trading in shares of the common stock of KUSA in the over-the-counter market. The company has been made aware of pending securities enforcement actions against the promoters and former shareholders and affiliates of Lanex Properties Inc., arising out of this transaction and numerous other fraudulent schemes with which these individuals have been involved. In connection with the recission, the board has revolved to return all property received by the company from Kaempen International Inc. and its former shareholders.
 -0- 12/10/91
 /CONTACT: Thomas P. Raabe of Kaempen, 303-444-6988/ CO: Kaempen USA Inc.; Lanex Properties Inc. ST: California IN: SU:


SE-EH -- LA024 -- 1128 12/10/91 15:13 EST
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Publication:PR Newswire
Date:Dec 10, 1991
Words:253
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