PARALAX <VIDO> AGREES TO ACQUIRE AMERICAN VIDEO
Paralax Video Enterprises Inc said it
has agreeed to acquire <American Video Group Inc> in exchange
for 287,700 Paralax restricted common shares and three year
warrants to buy 318,600 restricted shares at six dlrs a share.
    Paralax said holders of some American Video convertible
debentures have elected to exchange them for Paralax restricted
common with a market value of about 380,000 dlrs with that
value to be determined in about 45 days.
    American Video is a closely held company operating video
rental concessions in post and base exchanges at 54 Army, Air
Force, Navy and Coast Guard installations. In its most recent
year, the company had revenues of about 1.5 mln dlrs.
    Paralax said the acquisition is scheduled to close March
16. The company now has about 5.5 mln shares outstanding.
 Reuter
