DALLAS, Jan. 6, 2010 (GLOBE NEWSWIRE) -- Aces Wired, Inc. ("Aces") announced today a corporate restructuring by which a newly formed subsidiary, Four Corners, Inc. ("Four Corners"), will succeed Aces as the parent company of the consolidated corporate group. The restructuring, effective December 29, 2009, was approved by the boards of directors of both companies and a majority of Aces' shareholders.
As part of the restructuring, each outstanding share of Aces' common stock was converted into one share of common stock of Four Corners (Pink Sheets:FCNE); and each outstanding warrant and option of Aces was converted into a warrant and option (with the same terms) to acquire an identical number of shares of common stock of Four Corners.
About Four Corners, Inc.
Four Corners, Inc. is a holding company of certain subsidiaries whose primary focus is the gaming industry. Our wholly owned subsidiary K&B Sales, Inc. distributes bingo supplies and related equipment to charity bingo licensees in Texas and our majority-owned subsidiary, Eclipse Gaming Systems, LLC, develops and markets game content and machines for charitable electronic bingo, class II and class III gaming operators outside of Texas.