Axion Spatial Imaging, Inc. Announces Continuation of Alco Stock Purchase
June 25 2008 - 8:30AM
Marketwired
LAS VEGAS, NV , pursuant to its previously announced Stock
Purchase Agreement with privately held Alco Advanced Technologies,
Inc., has completed its first stock purchase of Alco stock. The
agreement allows Axion to purchase up to 40% of Alco stock over the
next several months. Alco Advanced Technologies, Inc. is a Nevada
privately held Corporation focusing on data security in addition to
its presence in Las Vegas casinos via its patented security
software. Alco also has garnered substantial interest from various
harbor and port security agencies for its new detection systems,
and has two Letters of Intent from ports in South America, in
addition to significant interest from organizations in the U.S.
According to an Axion spokesperson, "We are convinced that this
acquisition is a 'win-win' for both Axion Spatial Imaging and Alco
Advanced Technologies. From Alco's standpoint, they are looking to
derive the benefits from the substantial interest in their new
technology, and the additional capital raised through this stock
purchase should be instrumental in helping them achieve their
short-term expansion goals. As far as Axion is concerned, we
believe strongly in the potential of Axion's technology, and this
acquisition is both a tangible manifestation of that belief, as
well as the fulfillment of our ongoing commitment to identify
promising and undervalued acquisition targets and help them fulfill
their objectives and thereby build a portfolio of strong growth
assets."
Safe Harbor Statement:
Except for historical information contained herein, the matters
set forth above may be forward-looking statements that involve
certain risks and uncertainties that could cause actual results to
differ from those in the forward-looking statements. Words such as
"anticipate," "believe," "estimate," "expect," "intend" and similar
expressions, as they relate to the Company or its management,
identify forward-looking statements. Such forward-looking
statements are based on the current beliefs of management, as well
as assumptions made by and information currently available to
management. Actual results could differ materially from those
contemplated by the forward-looking statements as a result of
certain factors such as the level of business and consumer
spending, the amount of sales of the Company's products, the
competitive environment within the industry, the ability of the
Company to continue to expand its operations, the level of costs
incurred in connection with the Company's expansion efforts,
economic conditions in the industry and the financial strength of
the Company's customers and suppliers. The Company does not
undertake any obligations to update such forward-looking
statements. Investors are also directed to consider all other risks
and uncertainties.
Contact: Ricardo Perez Rodriguez President Axion Spatial
Imaging, Inc. 206-925-3415
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