SOURCE: ActionView International, Inc.
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.