SANTA FE SPRINGS, Calif., April 20, 2004 (PRIMEZONE) -- CADItec International, Inc., (Pink Sheets:CDCI) a record company that develops, publishes and markets popular Rock, Hip Hop, Gospel and Latino Music, announced today that its Board of Directors and a majority of its stockholders, by written consent, have agreed to amend the Certificate of Incorporation, to change the Company's name to AMC American Music Corporation. CADItec's management will immediately file all paperwork required to change the Company's name and trading symbol and provide its shareholders with written notice of the name change.
In August of 2003, CADItec International, Inc. acquired one hundred percent (100%) of the issued and outstanding shares of AMC American Music Corporation, Inc., a California corporation. Since August 2003, the Corporation's sole business has been the operation of that record company.
AMC American Music Corporation, Inc. (California) will remain an operating subsidiary of the AMC American Music Corporation, Inc (Delaware). AMC American Music will continue to develop, publish and market popular Rock, Hip Hop, Gospel and Latino Music, and distribute that music through a domestic distribution agreement with Direct Music Group, and Alternative Distribution Alliance, (ADA). ADA is a division of the Warner Music Group, a subsidiary of Time Warner Inc. (NYSE:TWZ).
About AMC American Music Corporation
AMC American Music, the original AMC record label, was founded in 1995. The Company primarily sells its products to consumers through retail record stores and wholesale distribution, under the label names of Direct Music Group, AMC, and WWIII. Through its affiliate, Direct Music Group, AMC distributes its records through Alternative Distribution Alliance. AMC acquires the exclusive worldwide rights to commercially market, sell and distribute all copies of recordings produced by recording artists, producers, and third-party labels. AMC is currently forming an independent distribution company under the name American Southwest for the purpose of distributing directly to retailers and wholesalers, pre-recorded music of independent third-party record labels that AMC elects not to distribute through ADA.
For more information please visit www.amcamericanmusiccorp.com
Safe Harbor
The Private Securities Litigation Reform Act of 1995 may provide a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of the Company. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, and domestic and global economic conditions.