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Consumer Electronics OEM Level Vision Acquired |
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Written by Mike Buetow
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Friday, 19 September 2008 |
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MONTREAL --
Midland Baring Financial Group has acquired Level Vision Electronics
in an all-stock transaction.
Level Vision is a consumer electronics manufacturer and distributor.
According to the company, Midland Baring's will issue a 20:1 reverse
split of its stock, with a total of 25 million shares issued to the
Level Vision shareholders, giving the company a total of 45 million
shares outstanding on a
fully diluted basis.
The company will immediately change its name to
Level Vision Electronics Corp.
In a press statement, Midland Baring president Jean-Francois Amyot said, "The corporation
plans to concentrate all of its efforts to the development of Level
Vision and its expanding cellular world market," adding the
services division of Midland Baring "may be sold or slowly
phased out."
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