SOURCE: ActionView International, Inc.

August 07, 2008 12:54 ET

ActionView International, Inc. Announces Engagement of Counsel for Jim Palmer Trucking Bankruptcy

Letter of Intent With New Acquisition Candidate Expected Shortly

VANCOUVER, BC--(Marketwire - August 7, 2008) - ActionView International, Inc. (OTCBB: AVWI) today announced that it has retained legal counsel to protect the company's interests in the Chapter 11 bankruptcy filing of Jim Palmer Trucking, Inc., with which ActionView had entered into a letter of intent for an acquisition transaction. As part of the anticipated acquisition, ActionView International provided a loan to Jim Palmer Trucking, Inc. in the amount of $250,000 on May 5, 2008.

ActionView has retained a Montana-based attorney experienced in bankruptcy cases. A creditors' hearing in the Jim Palmer Trucking bankruptcy case has been scheduled for Friday, August 8, 2008, and ActionView's legal counsel is expected to attend the hearing.

ActionView International management has expressed several issues of concern related to the bankruptcy filing, including its close proximity in time to Jim Palmer Trucking's acceptance of the loan from ActionView International.

"Protection of the company's interests in this case is paramount, and we are pleased to have engaged a highly qualified attorney to represent ActionView International and its shareholders," commented Steven R. Peacock, CEO of the company. "We will continue to provide updates on this case whenever possible."

ActionView International also announced that it is completing its initial due diligence on new acquisition candidates and expects to enter into a preliminary agreement with one company within the next several days. Management's focus has been to identify the acquisition candidate that possesses the best possible long-term value for the company's shareholders.

About ActionView International, Inc.

ActionView International's operating subsidiary custom-designs, develops, and manufactures vividly illuminated motion billboards. ActionView places its signs into high traffic locations and markets advertising space on the signs. ActionView shares advertising revenue generated from the billboards with advertising agencies, the local business partner and the location owner. The benefit to advertisers is exposure in high traffic locations at reasonable costs due to the scrolling feature and multiple advertisers. For additional information about ActionView, please visit the company's website at www.actionviewinternational.com.

Forward-Looking Statements

This release contains 'forward-looking statements' within the meaning of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or 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.

Contact Information

  • Contact:
    Gemini Financial Communications
    A. Beyer
    951-677-8073
    Email Contact