ActionView International Concludes Merger With Austex Holdings
October 28 2013 - 9:30AM
Marketwired
ActionView International Concludes Merger With Austex Holdings
AUSTIN, TX--(Marketwired - Oct 28, 2013) - ActionView
International, Inc., (OTC Pink: AVEW) which previously announced a
merger with Austex Holdings, Inc., a Texas-based company that
operates a landscape and pool construction company headquartered in
Austin, Texas, today confirmed that all terms of the merger have
been satisfactorily concluded. The previous operations of
ActionView, including the WCFC assets and liabilities, were
sold. Austex Holdings has elected to be the successor issuer
to ActionView for reporting purposes, which classifies this
transaction as a reverse merger.
ActionView Chief Executive Officer, Jose Chavez, commented, "The
respective companies' shareholders and boards of directors have
executed the necessary approvals and all terms of the share
exchange agreement have been met. The transaction is therefore
consummated and we are operating as Austex Holdings. Our goal
is to return the company to a fully reporting status with the
Securities and Exchange Commission and up-list the company's stock
to the OTCBB. Austex will be concluding an audit of its financial
statements and filing a registration statement covering our issued
and outstanding shares as part of this process. As previously
discussed, there is no plan to reverse split the company's
stock."
Austex Pools was established in 2010 to service the greater
Austin area. Over the years, the company has been recognized
with multiple international and regional design awards. In
additional to pool design and construction, they offer full
landscaping and monthly service plans. The Company intends to
expand outside of the regional market while also pursuing a
vertical integration strategy through the acquisition of service
and construction companies that compliment Austex business.
Mr. Chavez added, "We're excited to have ActionView return to
full operations and appreciate the patience our shareholders have
shown as management has worked to bring value to our company and
our stock. Austex Holdings represents a growing, profitable
business in an expanding market. This transaction will allow
the company to develop horizontally and vertically as the new
business model unfolds in the coming months."
About ActionView International, Inc.
ActionView International, through its wholly owned subsidiary,
Austex Holdings, Inc., operates Austex Pools, a full service pool
and landscape design and construction company.
ActionView Media, contact: Shareholder Relations
investors@actionviewint.com
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