Dang! I totally forgot some of this. Who is Murray Stark?
3E International Corp. to Acquire Corbel Holdings, Inc. January 22, 2002 at 1:22 PM CST Share this article
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CLEARWATER, Fla., Jan. 22 /PRNewswire-FirstCall/ -- 3E International Corp. (OTC: TEIL) and Corbel Holdings, Inc., a spin off of Pinnacle Business Management (OTC: PCBM) announced the acquisition by 3E, of all the stock of Corbel, a privately held Clearwater, Florida based company. The business combination will be effected through a reverse takeover whereby the shareholders of Corbel Holdings, Inc. will exchange all of the outstanding common stock of Corbel, for 12,344,160 million newly issued shares of 3E. Following the exchange, the shareholders of Corbel will hold a majority of the outstanding common stock of the company and Corbel will be a wholly-owned subsidiary of the Company. The terms have been reflected in an exchange agreement, which has been executed among the parties. The exchange agreement was approved by each company's board of directors. Mr. Murray Stark, CEO of 3E International Corp. stated that, "I am very pleased to have found a solid merger candidate. After careful consideration, the board of directors felt that Corbel was the best option for 3E. Corbel's business model and actual project plans have sold market potential. 3E is a publicly trading company and Corbel now has a public vehicle from which it can operate its business and grow the company." Mr. Bruce Harlan, CEO of Corbel Holdings, Inc. added, "By joining forces with 3E, we hope to build a business with a solid track record of results, a strong management team and the availability of financial resources of a publicly traded company. I believe the combined entities will have an opportunity to build a larger and more profitable company that serves individual customers, and residential communities. We believe this is an ideal strategic move to leverage and expand our business model." Corbel intends to provide a notice of information letter to the original dividend recipients of Summit Property Group now known as Corbel Holdings, Inc., shareholders and replicate the appropriate corresponding Corbel Holdings, Inc. shares.
About Corbel Holdings Corbel Holdings is a Real Estate Development Company operating on the West Coast of Florida.
For information shareholders may call Arica Barati between 5:30 and 7:30 PM, EST on Monday, Tuesday and Thursdays at 412-969-0034.
Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from the forecasted results. These risks and uncertainties, include, among other things, product price volatility, product demand, market competition, risk inherent in the company's domestic and international operations, imprecision in estimating product reserves and the company's ability to replace and expand its holdings.