LEXON TECHNOLOGIES COMPLETES MERGER WITH PARAGON TONERS

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LEXON TECHNOLOGIES COMPLETES MERGER WITH PARAGON TONERS

 user 2009-10-30 at 12:23:39 pm Views: 39
  • #22424

    http://www.reuters.com/article/pressRelease/idUS169087+14-Oct-2009+PRN20091014
    LEXON TECHNOLOGIES COMPLETES MERGER WITH PARAGON TONERS
    Lexon Technologies, Inc. Completes Reverse Merger with Paragon Toner
    LA
    MIRADA, Calif., Oct. 09 – Lexon Technologies,
    Inc. has completed a reverse merger with Paragon TonerInc.,
    (www.ptoner.com), a Southern California based manufacturer of recycled
    toner cartridges.  The effective date of the merger is October 22, 2009.

    Under the terms of the Merger Agreement, Lexon Technologies has issued
    347,448,444 shares to the shareholders of Paragon in return of 100% ownership
    of Paragon.  The company will retain the name of Lexon Technologies, Inc. and
    the symbol LEXO.OB.

    Since its inception in 1993, Paragon has seen consistent growth and
    profitability.  For the year 2008, Paragon recycled and sold over 200,000
    toner cartridges.  Currently, the recycled toner market has grown into a 12
    billion dollar business and Paragon has seen an unprecedented increase of both
    sales and profits during the last three years.  Paragon supplies primarily
    large retailers and distributors of the product as well as operating an online
    retail division. 

    James Park, new CEO of Lexon and the former owner of Paragon, said that, “In
    the past we have amply provided for our families and our employees by
    emphasizing profits, and growth, however, from this point forward we seek to
    do the same for our shareholders and investors.”  

    Mr. Park further added, “We believe our timing is impeccable. With the
    worldwide awareness of green sustainable or recycled goods, and the need for
    cheaper products, timed with a rebound in the markets, we hope to capitalize
    with continued growth and solid financials.”