PARALAX <VIDO> AGREES TO ACQUIRE AMERICAN VIDEO Paralax Video Enterprises Inc said it has agreeed to acquire <American Video Group Inc> in exchange for 287,700 Paralax restricted common shares and three year warrants to buy 318,600 restricted shares at six dlrs a share. Paralax said holders of some American Video convertible debentures have elected to exchange them for Paralax restricted common with a market value of about 380,000 dlrs with that value to be determined in about 45 days. American Video is a closely held company operating video rental concessions in post and base exchanges at 54 Army, Air Force, Navy and Coast Guard installations. In its most recent year, the company had revenues of about 1.5 mln dlrs. Paralax said the acquisition is scheduled to close March 16. The company now has about 5.5 mln shares outstanding.