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Seven Ventures, Inc. Closes Merger with Equitex Subsidiary, Chex Services.
Business Editors
MINNETONKA, Minn.--(BUSINESS WIRE)--June 8, 2004
Seven Ventures, Inc. (OTCBB:SVVI) (the "Company") announced today that the transaction to merge with Equitex's (Nasdaq:EQTX) wholly-owned subsidiary, Chex Services, Inc., into a wholly-owned subsidiary with Seven Ventures, Inc. has closed. As previously announced, Equitex exchanged 100% of its equity ownership in Chex Services for 7,700,000 shares representing 93% of Seven Ventures' outstanding common stock following the transaction. As a result, Chex Services has become a wholly-owned subsidiary of Seven Ventures.
Chex Services provides comprehensive cash access services to casinos and other gaming facilities. The Company specializes in, and is the industry leader for, full booth operations to Native American casinos. In addition to full booth operations, the Company has developed a suite of cash access products for use in the traditional gaming and retail markets. Chex Services markets its products under the trademarked name FastFunds. Chex Services' website is located at www.fastfundsonline.com.
The statements included in this press release concerning predictions of economic performance and management's plans and objectives constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the ...
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Source: HighBeam Research, Seven Ventures, Inc. Closes Merger with Equitex Subsidiary, Chex...