Icoworks grosses approximately $750,000 for Santiago Sports & Classics Collector Car Auction
22 Dezember 2003 - 3:00PM
PR Newswire (US)
Icoworks grosses approximately $750,000 for Santiago Sports &
Classics Collector Car Auction BELLINGHAM, WA, Dec. 22
/PRNewswire-FirstCall/ -- Icoworks Inc. (OTCBB:ICOW)
(FRANKFURT:ICOW.F) today announced that the Santiago Sports and
Classics Collector Car Auction, held in Oklahoma City, Oklahoma, on
December 5th and 6th, 2003, grossed approximately USD$750,000. The
auction was the first conducted by Icoworks Services Inc. since
Icoworks Inc. acquired the rights to auctions hosted by Santiago
Sports and Classics Collector Car Auction in November of this year.
Over 220 classic cars registered for the auction and over 65% of
those cars sold, which is an impressive number of sales for the
classic car auction industry. "The outstanding success of this
auction is indicative of the strong management experience of
Santiago. We intend to capitalize on this experience by expanding
the classic car sector of our auction business, and are currently
investigating several new cities and locations for future
auctions," stated Mr. Graham Douglas, President of Icoworks
Holdings Inc. 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 Westin
Communications Inc. Toll: 800-430-4034Tel: 604-669-3707 Email: Web:
http://www.westincomm.com/ Regency Financial Public Relations Tel:
303-771-7300 Email: 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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