SEOCHO-KU, SEOUL, Korea, Aug. 29, 2005 (PRIMEZONE) -- Classic Vision Entertainment Inc. (CLVE) announces its acquisition of Allixon Co. LTD of Korea as a wholly owned subsidiary of Allixon International Inc., and changes name to Allixon International Inc. under the new trading symbol (Pink Sheets:AXCP).
Allixon is a leading provider of RFID Middleware and Mobile Internet solution for device computing. Allixon combines its products, expertise, partnerships and integration capability into solutions for a wide range of device computing applications, including RFID Middleware and m-banking solution. The Company has provided radio frequency identification middleware based on Auto-Id and mobile banking solutions since 2003.
Beyond its current business activities, the Company plans on developing an internal sales team, bringing its production to commercial levels and extending its technology and business development partnerships beyond Korea.
In consideration for the merger with Allixon, CLVE issued 25 million of restricted common shares to the shareholders of Allixon International, Inc. after a 750:1 reverse in the common shares of CLVE. The company also intends to complete and submit a Form 211 pursuant to 15c2-11 to NASD Regulation OTC Compliance Unit for consideration whereby the Company's common stock can become quoted on the OTC Bulletin Board.
About Allixon International Inc.
Founded in 2003, Allixon is a leading provider of RFID Middleware and Mobile Internet solutions for device computing. Allixon combines its products, expertise, partnerships and integration capability into solutions for a wide range of device computing applications, including RFID Middleware and m-banking solutions. Allixon's products based on ubiquitous technologies direct companies looking to tap into the wealth of data captured by networked devices such as RFID readers or handhelds to extend the quality of information to any device where they want. The company is headquartered in Seoul, Korea - 3FL. Mijin Bldg., 1474-16, Seocho 3-dong, Seocho-ku, Seoul, 137-868, Korea.
NOTE TO EDITORS: If you would like additional information on Allixon International Inc., please view our website at www.allixon.com . To receive an Investor Kit or additional information for Allixon International Inc., or to join the company's mailing list, please contact Investor Relations Department by emailing investors@allixon.com
This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We have tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect our current belief and are based upon currently available information. Accordingly, such forward looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. We undertake no obligation to update or advise in the event of any change, addition or alteration..