EcoMax (PK) (USOTC:EMAX)
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Xenicent Enters Into Letter of Intent to Acquire EMAXNET, Inc.
ORLANDO, Fla., Dec. 5 /PRNewswire-FirstCall/ -- Xenicent, Inc. (BULLETIN
BOARD: XCNT) announced today that it has signed a letter of intent to acquire
EMAXNET, Inc., a Florida corporation minority owned by eMAX Corporation (OTC
Pink Sheets: EMAX). Pursuant to the transaction, EMAXNET will merge its assets
into Xenicent, Inc. The transaction is expected to close on or about December
16, 2003. Completion of the transaction will result in a change of control in
XCNT and EMAXNET's management will assume management of Xenicent, Inc. The
Company also plans to relocate its corporate offices to Orlando, Florida.
Additional details will be filed on Form 8-K with the Securities and Exchange
Commission within fifteen days of the closing.
Duane Bennett, President and CEO of Xenicent, states, "We are very excited about
the merger with EMAXNET. Our management has always strived to enhance
shareholder value over the years. EMAXNET is a seasoned company with a qualified
management team. In addition, they have experience managing a publicly traded
entity. We believe this transaction will add value to our shareholders that
would normally take years to develop."
About EMAXNET, Inc. and divisions eMax Music, eMax Studios, and eMax TV:
EMAXNET plans to launch a twenty-four hour broadcast network showcasing all
family entertainment. The company intends to license broadcast programming to
satellite and cable broadcast networks directly competing with the major
networks. EMAXNET owns the rights associated with emaxol.com, which recently
entered an agreement to acquire sixteen television stations throughout the U.S.
and plans to finalize an alliance with IDVDBOX, Inc. to market the i2DVD player.
EMAXNET plans to acquire the rights to a full media production and
post-production facility in Florida as well as additional companies in the
Internet, broadcasting, communications and wireless industries.
About eMax Corporation:
eMax Corp. is a holding company investing in multimedia and family entertainment
content through two corporations and three divisions (eMax Realty Group, Inc.
and EMAXNET with divisions eMax Music, eMax Studios and eMax TV Group) and a
shareholder interest in the company Freedom Entertainment International, Inc.
(with subsidiary Freedom Entertainment Canada, Inc.). These seven operating
areas offer technology-driven, high-quality products and services focusing on
pre-recorded music, outdoor sports and special events, sales of motorcycles and
motorcycle-related accessories, feature film production, television programs and
the acquisition and development of real estate.
Corporate updates & developments: http://www.emaxcorp.com/
Current quotes: http://www.pinksheets.com/quote/quote.jsp?symbol=EMAX
This press release contains certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, which are intended to be covered by
the safe harbors created thereby. Investors are cautioned that all forward-
looking statements involve risks and uncertainties, including, without
limitation, the future press releases of EMAX.
DATASOURCE: eMax Corporation
CONTACT: Donald O'Neill of EMAXNET, Inc., ; or Kimber
Peterson of CPR, Inc., +1-866-868-EMAX (3629), for eMax Corporation
Web site: http://www.emaxcorp.com/