OXFORD, Miss., July 12, 2007 (PRIME NEWSWIRE) -- Encore Energy (Pink Sheets:PKEH), a rapidly growing diversified energy company, is pleased to announce it has merged with Peak Entertainment. The merger will combine the two companies in their entirely with the surviving company being Peak Entertainment. The merger calls for Peak stockholders to own in aggregate 40% of the Common stock post-merger. This number of shares will be approximately 1,830,967. Encore Energy stockholders will represent 60% of the post-merger shares -- approximately 2,746,450 shares. The total number of post-merger shares issued and outstanding will be approximately 4,577,417. No reverse-split, forward-split or other type of recapitalization of the company's shares is planned or presently contemplated.
Jack Tarry, CEO of Encore Energy said: "This merger represents a new beginning for existing stockholders of Peak Entertainment as well as a bold new future for Encore Energy. We are on a strong growth path in an exploding industry. Investors should watch closely for updates and exciting news in the coming days."
About the Company
Encore Energy Systems (formerly Energy Vision International) grows through energy-related acquisitions, marketing its patented geothermal water-air heating/cooling systems, and sales of energy conservation solutions.
The company's geothermal marketing unit, DeMarco Energy Systems of America, Inc. (www.demarcoenergy.com), has geothermal installations in Oregon, Pennsylvania, Washington, Montana, South Dakota, Mississippi, California and Texas. Encore's primary focus is to provide energy efficient technologies to commercial and institutional markets through the application of the DeMarco 'Systems' patents and other acquired technologies. For more information, visit www.energyvisionintl.com.
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.