Paramco Financial Group, Inc. Changes Corporate Domicile from Nevada to Delaware by Merging with and into Paramco Financial Group, Inc., a Delaware Corporation and Changes its Symbol to 'PFDE'

 | Source: Paramco Financial Group, Inc. Paramco Financial Group, Inc.

DENVER, April 9, 2003 (PRIMEZONE) -- Paramco Financial Group, Inc. (OTCBB:PFDE), a Delaware corporation today announced that Paramco Financial Group, Inc., a Nevada corporation (the "Corporation") changed its corporate domicile from Nevada to Delaware by merging into Paramco Financial Group, Inc., a newly formed Delaware corporation ("Paramco Delaware") with Paramco Delaware surviving the merger. The reincorporation was effected on April 8, 2003 at 4:00 PM EDT and resulted in: 


 (i)   the Corporation being governed by the laws of the State of
       Delaware;
 (ii)  the right to receive one share of common stock of Paramco 
       Delaware for each ten shares of common stock of the Corporation
       owned as of the record date of the reincorporation;
 (iii) the persons serving presently as officers and directors of the 
       Corporation to serve in their respective capacities after the
       reincorporation;
 (iv)  the outstanding shares of Series D Convertible Preferred Stock 
       of the Corporation being converted into 23,385,230 shares of
       Paramco Delaware's common stock that will represent
       approximately 98.7% of the total number of outstanding shares
       of Paramco Delaware after the reincorporation;
 (v)   Paramco Delaware's Certificate of Incorporation authorizing the
       issuance of 100,000,000 shares of common stock and 10,000,000 
       shares of preferred stock; 
 (vi)  authority to adopt the 2003 Directors, Officers and Consultants
       Stock Option, Stock Warrant and Stock Award Plan; and
 (vii) the board of directors to be divided into three classes which 
       shall be as nearly equal in number as possible.  A classified 
       board of directors could make it more difficult for 
       shareholders, including those holding a majority of Paramco 
       Delaware's outstanding stock, to force an immediate change in 
       the composition of a majority of the board of directors.

Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward-looking statements. The realization of any or all of these expectations is subject to a number of risks and uncertainties and it is possible that the assumptions made by management may not materialize.

For more information about the Corporation, please visit www.paramco.net. 


            











    

        

        
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