USA: Auxer Signs Letter of Intent to Acquire $30 Million Telecommunications Distributor
The Auxer Group, Inc. (OTCBB: AXGI - news) announced today that it has signed a letter of intent to acquire the assets of Clifton Telecom Alliance a northeast United States distributor of prepaid phone cards. While the terms have not been disclosed, Auxer has agreed to pay cash and stock as consideration for the assets under a binding agreement. Clifton Telecom Alliance is projected to generate $25 - 30 million in revenue during the initial twelve months under the Auxer Telecom Group.
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