SANTA FE SPRINGS, Calif., April 27, 2004 (PRIMEZONE) -- CADItec International, Inc. (Pink Sheets:CDCI), a record company that develops, publishes and markets popular Rock, Hip Hop, Gospel and Latino Music, announced today that to further its efforts as a public company, management is preparing to file the company's application for listing its common stock on the American Stock Exchange.
AMC American Music Corporation feels that it meets all of the "Quantitative Standards" set for initial listing on the American Stock Exchange, except for its stock price, and as part of its preparation for this application, management is currently preparing to file a Form 10 with the Securities and Exchange Commission. The Company is also in the process of implementing new corporate governance standards to comply with the standards for listing on the American Stock Exchange.
About AMC American Music Corporation
AMC American Music, the original AMC record label, was founded in 1995. The Company primarily sells its products to consumers through retail record stores and wholesale distribution, under the label names of Direct Music Group, AMC, and WWIII. Through its affiliate, Direct Music Group, AMC distributes its records through Alternative Distribution Alliance. AMC acquires the exclusive worldwide rights to commercially market, sell and distribute all copies of recordings produced by recording artists, producers, and third-party labels. AMC is currently forming an independent distribution company under the name American Southwest for the purpose of distributing directly to retailers and wholesalers, pre-recorded music of independent third-party record labels that AMC elects not to distribute through ADA. AMC American Music will continue to develop, publish and market popular Rock, Hip Hop, Gospel and Latino Music, and distribute that music through a domestic distribution agreement with Direct Music Group, and Alternative Distribution Alliance, (ADA). ADA is a division of the Warner Music Group, a subsidiary of Time Warner Inc.
For more information please visit www.amcamericanmusiccorp.com.
Safe Harbor
The Private Securities Litigation Reform Act of 1995 may provide a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of the Company. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, and domestic and global economic conditions.