Avalon Capital Holdings Acquires Assets of Master Capital Group
Friday, June 06, 2008 - 8:03 AM EDT
Avalon Capital Holdings Corporation (OTC: AVAL) disclosed today that it acquired the software assets of Master Capital Group Corporation, a former US-based Futures Commission Merchant. Pursuant to the terms of the transaction, Avalon Capital Holdings acquired the software assets of Master Capital Group. The assets of Master Capital Group were independently valued at $17.5 million. The purchaser price for the assets was 200,000,000 shares of Common Stock of Avalon Capital Holdings. As a result of the transaction Avalon Capital Holdings increased its outstanding shares to 284.5 million shares. Avalon Capital Holdings has 750 million authorized shares.
Avalon Capital Holdings intends to rebrand and integrate the acquired software trading platform with its existing suite of products and services. Dr. Vladimir Karpenkov, Chairman of Avalon Capital Holdings Corporation, states, “Avalon plans to grow both organically and through acquisitions. The acquisition of Master Capital’s trading platform, will allow Avalon to vertically integrate its product offering across the entire retail Foreign Exchange Market.”
About Avalon Capital Holdings Corporation
Avalon Capital Holdings Corporation, through its subsidiaries, develops, markets and distributes high-performance trading software for financial companies that engage in online trading. The Company offers products related to the Foreign Exchange (“Forex”), the world’s largest capital market according to The Bank of International Settlements. For additional information please visit http://www.avaloncapitalholdings.com/ or email info@avaloncapitalholdings.com.
A number of statements referenced in this Press Release are forward-looking statements, which are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, and within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, and goals, assumption of future events or performance are not statements of historical fact and may be “forward-looking statements.” Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this Release may be identified through the use of words such as “expects,” “will,” “anticipates,” “estimates,” “believes,” or statements indicating certain actions “may,” “could,” or “might” occur. Such statements reflect the current views of Avalon Capital Holdings Corporation with respect to future events and are subject to certain assumptions, including those described in this release. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products, services, and technologies, competitive market conditions, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses, and other factors. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties.
Avalon Capital Holdings Corporation does not undertake any responsibility to update the “forward-looking” statements contained in this news release. Any communications received by fax or e-mail concerning Avalon Capital Holdings Corporation which have not been authorized by the Company or its investor relations/media advisory firm are specifically disavowed by the Company.
Avalon Capital Holdings Corporation
Dr. Vladimir Karpenkov, 310-967-0990
