oops this was the EGPI news
Energy Producers Inc. to Acquire International Group Holdings Inc. Through Share Exchange Agreement
Energy Producers Inc. (OTCBB: EGPI), in keeping with its
intent of building new business relationships and strategic alliances
through the accumulation of businesses and asset accumulation, is
pleased to announce the acquisition of International Group Holdings
Inc. a publicly traded company currently trading on the Pink Sheets,
symbol: IGHI.
International Group Holdings Inc. is in the business of sales
through the marketing and brokering of yachts, licensing sales and
sales from its marine sector division on a global scale with offices
in the United Kingdom and the continental United States. The company
currently sits with approximately 4.5 million in assets and posted
$4,426,040 in gross revenues in the third quarter with a slight net
profit. The company was also in the process of becoming a fully
reporting company through its Form 10 filing which was submitted in
September 2003.
Gregg Fryett, CEO of IGHI, stated, "We feel that the overall
merger of these two companies through this acquisition will keep
within our goals of aggressive growth through the accumulation of
revenue streams and assets while achieving a more marketable entity
for all shareholders involved."
The two companies entered into an agreement on Dec. 1, 2003 for
EGPI to acquire 100% of all shares issued and outstanding of IGHI on a
one-for-one basis. It is expected that upon shareholders' approval the
exchange should take place on or about Dec. 30, 2003. It is believed
that upon final calculations of the agreement, IGHI shareholders will
represent the minority position of EGPI.
Dennis Alexander, president for EGPI, commented, "This acquisition
offers many benefits to all shareholders involved. We expect the
combination of these two companies to have many benefiting factors in
our commitment to excellence and the overall goals set forth in our
business plan."
EGPI is focused on oil production, with an emphasis on acquiring
existing production with proven reserves. The company, through its
subsidiary, operates an oil and gas field equipment service and supply
business. Energy Producers' initial areas of operations are located in
Arizona, Texas, Arkansas and surrounding states.
Investing is for those who don't know how to trade
