Axia Group, Inc. Announces New Corporate Strategy and Acquires Artistmss Korea, Inc. as Wholly-Owned Subsidiary
LOS ANGELES, Dec. 10, 2012 /PRNewswire/ -- Axia Group, Inc. (PINKSHEETS: AGIJ) announced today that it has completed its acquisition of Artistmss Korea, Inc. a Korean corporation, and that Artistmss Korea is now a 100% wholly-owned subsidiary of Axia Group, Inc. Mr. Gil Kim, Founder and CEO of Artistmss Korea will remain on board as CEO of the subsidiary. The two companies have been working on solidifying the arrangement since August 2012 and this announcement marks the completion of those negotiations.
ARTISTMSS KOREA will continue to bring to market its revolutionary Infrared apparel line which has already realized significant revenues in 2012. This acquisition has been structured in the form of a stock-for-stock transaction in which current Axia Group shareholders and management remain in control of the company and ARTISTMSS KOREA shareholders are assured a sizeable ownership position.
In response to this announcement, George Kim, Chairman and CEO of Axia Group, stated, "We are excited to announce the acquisition of ARTISTMSS KOREA, Inc. and the retention of Mr. Gil Kim as CEO of the new subsidiary. This acquisition gives us immediate entry into the highly lucrative infrared apparel industry as well as the premium skincare industry. Mr. Gil Kim is a seasoned veteran in the direct sales industry. His leadership and expertise will be paramount for the continued growth and future success of Artistmss Korea, Inc. The restructuring of Axia Group as the parent company and ARTISTMSS KOREA as the operating subsidiary makes it easier for Axia Group to seek additional complementary opportunities in the 'healthy and wellness' industries. It also gives us the flexibility needed to continue to make decisions that we feel will maximize the benefits to our stockholders." Mr. Gil Kim added, "ARTISTMSS KOREA shareholders and management are extremely pleased with this acquisition, which was unanimously supported at a recent stockholders meeting. We believe that Axia Group's support will give us a greater opportunity to expose our products to market and attain a much larger market share in a shorter period of time."
The Company plans to make more announcements in the days to come.
For more information visit www.artistmss.com
Safe Harbor Statement: This release contains forward-looking statements with respect to the results of operations and business of Axia Group, Inc., which involves risks and uncertainties. The Company's actual future results could materially differ from those discussed. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward looking statements be subject to the "Safe Harbors" provision of the Private Securities Litigation Reform Act of 1995.
George Kim, CEO
Axia Group, Inc.
SOURCE Axia Group, Inc.
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