SEARCH NEWS:

 

DEQ to Acquire D P Stud

LEVIS, Canada – (PRESS RELEASE) -- DEQ Systems Corp. (TSX Ticker: DEQ), has identified today the target acquisition in Nevada previously announced on March 31th 2005. DEQ intends to acquire a privately held Las Vegas Nevada based company named D P Stud, inc. The proposed transaction would see DEQ acquiring 100% of the shares of the company for a total approximate amount not to exceed more than $2,100,000 USD of which 1 050 000$ USD would be paid in US Funds at closing and the remaining amount would be paid in DEQ Common shares at a fixed share price of 1.00$ Cdn per share of DEQ. This transaction is subject to the approval of the regulatory authorities. Due Diligence is ongoing and the closing of this transaction is expected to take place on or before July 14th 2005.

Lou De Gregorio, Managing Director of D P Stud, stated: "D P Stud has been a member of the DEQ family for many years. D P Stud is a strong believer in the potential of DEQ's products and is very excited about integrating into the DEQ Group. DEQ's technological leadership combined with D P Stud's outstanding reputation for side betting system leasing, service and installation is a perfect fit."

Earle G. Hall, President & CEO of DEQ stated: "Now that DEQ is ready to take on the American Market, Nevada is our number one priority and is key to our growth plan and long term objectives. D P Stud is an industry recognized leader with an outstanding reputation in Nevada. This acquisition is a natural and logical step to accelerate our business and revenue objectives for the coming 12-36 months.

< Gaming News