Premier completes liquidation of well service & drilling equipment
18 Dezember 2003 - 3:00PM
PR Newswire (US)
Premier completes liquidation of well service & drilling
equipment Total Gross Auction Sales of Approx. USD $1.1 Million
ODESSA, TX, Dec. 18 /PRNewswire-FirstCall/ -- Icoworks Inc.'s
(OTCBB:ICOW) (FRANKFURT:ICOW.F) wholly owned subsidiary, Premier
Auctioneers International, Inc., announced the results of its
auction conducted on December 10th, 2003, in Odessa, Texas. The
one-day auction of well service and drilling equipment generated
gross auction sales of over USD $1.1 Million and was exceptionally
well attended. The bidding on the equipment was strong and the
sales exceeded initial expectations by over 30%. "The success of
this auction bodes well for the next auction of well service and
drilling equipment which will be held on January 20th and 21st,
2004, in Oklahoma City, Oklahoma," stated Mr. Graham Douglas,
President of Icoworks Holding Inc. To learn more about the Oklahoma
auction, please visit Premier's site at
http://www.premierauctioneers.com/. About Icoworks Inc. Icoworks
Inc. has acquired a 56% interest in Icoworks Holdings Inc.
(http://www.icoworks.com/) an integrated Commercial/Industrial
Auction company. In November of 2002 Icoworks Inc. announced its
intent to merge with Icoworks Holdings. Icoworks Inc. plans to
acquire the remaining 44% interest in Icoworks Holdings by issuing
two shares of its common stock for each remaining share of Icoworks
Holdings. The Icoworks merger remains subject to approval by the
shareholders. The shareholder meeting will be held once requisite
regulatory documents have been prepared and filed. Icoworks,
through its subsidiaries, offers a complete array of industrial,
oilfield and commercial appraisal, liquidation and auction
services. Every Icoworks auction or liquidation benefits from many
years of experience in the industry, and a corresponding network of
almost 200,000 proven purchasers. Icoworks Holdings has a 25-year
history of profitability, qualified experienced management,
excellent industry contacts, and a high- quality reputation for
finding qualified buyers for their sellers. For more information
contact: Investor Relations Regency Financial Public Relations
Westin Communications Inc. Tel: 303-771-7300 Toll: 800-430-4034
Email: Tel: 604-669-3707 Email: Web: http://www.westincomm.com/
This Press Release may contain, in addition, to historical
information, forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. These
statements are based on management's expectations and beliefs, and
involve risks and uncertainties. These statements may involve known
and unknown risks and uncertainties and other factors that may
cause the actual results to be materially different from the
results implied herein. Key factors that could cause actual results
to differ materially from those described in forward-looking
statements are: (i) the inability of Icoworks to complete the
merger with Icoworks Holdings to acquire the minority interest of
Icoworks Holdings that it does not own, of which there is no
assurance; and (ii) the inability of Icoworks to achieve the
financing required to pursue its plan of operations, of which there
is no assurance. Readers are cautioned not to place undue reliance
on the forward-looking statements made in this Press Release.
DATASOURCE: Icoworks, Inc. CONTACT: Investor Relations, Westin
Communications Inc., Toll: 800-430-4034, Tel: 604-669-3707, Email:
, Web: http://www.westincomm.com/; Regency Financial Public
Relations, Tel: 303-771-7300, Email:
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