LAS VEGAS, July 2, 2014 (GLOBE NEWSWIRE) -- Crown Equity Holdings Inc. (OTCPink:CRWE) is pleased to announce the execution of a letter of intent to acquire American Video Teleconferencing Corp., (OTCPink:AVOT). The proposed acquisition will be a stock transaction in which Crown Equity Holdings will acquire ninety five percent (95%) of American Video Teleconferencing Corp.'s outstanding shares.
Upon the execution of a definitive agreement and subsequent closing of the transaction, it is envisioned that American Video Teleconferencing Corp. will become a subsidiary of Crown Equity Holdings Inc.
Crown Equity may then merge another subsidiary, Roxzu, which is an on-line e-commerce coupon distribution channel and marketplace for merchants to create brand awareness for their business, by offering goods and services to consumers at a discount, into American Video Teleconferencing Corp.
Roxzu will be expanding its application to include auto repairs, real estate, bars, movie theaters, retailers, golf courses, auto dealerships and a variety of other businesses existing within a community: www.roxzu.com.
About Crown Equity Holdings
Together with its digital network of websites, Crown Equity Holdings Inc. provides and offers advertising branding, marketing solutions and services to boost customer awareness, as well as merchant visibility as a worldwide online multi-media publisher. The Company launches, invests and manages select businesses, projects and real estate endeavors. For more information regarding Crown Equity Holdings Inc., please visit: http://www.crownequityholdings.com.
About American Video Teleconferencing Corp.
American Video Teleconferencing Corp., an exploration stage company, engages in the exploration and production mineral properties in Canada.
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new business opportunities and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.