Country World Casinos Inc. announces sale of stock to Holly Products Inc

Business Wire, April 26, 1995

DENVER--(BUSINESS WIRE)--April 26, 1995--Country World Casinos Inc. (Bulletin Board: CWRC) Wednesday announced that Holly Products Inc. has converted $1 million outstanding indebtedness owed by Country World to Holly Products into 5 million shares of restricted common stock of Country World.

As a result of this transaction, Holly Products has become the holder of a majority of Country World's common stock.

Holly Products and Country World is continuing its efforts to secure financing for the construction of a gaming and entertainment center to be located in Black Hawk, Colo. Holly Products has committed to providing additional funding to Country World no later than June 30, 1995, for which Country World will issue additional restricted common stock to Holly Products.

Country World plans to construct a gaming and entertainment facility in Black Hawk, subject to obtaining the necessary financing and regulatory approvals, none of which is assured.

CONTACT: Country World Casinos Inc., Denver

Roger D. Leclerc, 303/777-6111