HENDERSON, NV, June 29 /PRNewswire-FirstCall/ - Videolocity
International, Inc. (VCTY; http://www.videointernationalcorp.com)
is pleased to share the developments of a merger deal with a
Chinese Hydro company.
The company, whose name remains undisclosed at this time, is a
large utility company, founded in 2003, with profits in excess of
50 million RMB ($7,360,000 US). Hydro electric power in
China today is big business and is
part of the government's plans to aid underdeveloped regions with
sustainable energy. The company plans to expand its services and
currently seeks funding for the creation of a new hydro power
station. This new hydro station is due to provide energy to the
region by 2012.
After preliminary meetings with VCTY, the Hydro company's board
shared a unanimous decision to proceed into the next phase of
merger negotiations with VCTY. The companies are in the final
stages of negotiations and once the merger details solidify, the
merger candidate's financial reports (2008 through Q1 2010) will be
posted as filings on MMMG and on Pink Sheets. The hydro merger
would mean a great success for VCTY. The hydro conglomerate also
considers providing audited financials and a potential uplisting to
a higher board.
The company reminds its shareholders and followers to monitor
PinkSheets.com Filing section and also our IR company web site
section "PRESS RELEASES AND FILINGS" TAB
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updates.
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Safe Harbor Statement
Information in this news release may contain statements about
future expectations, plans, prospects or performance of Videolocity
International, Inc. that constitute forward-looking statements for
purposes of the Safe Harbor Provisions under the Private Securities
Litigation Reform Act of 1995. The words or phrases "can be",
"expects", "may affect", "believed", "estimate", "project" and
similar words and phrases are intended to identify such
forward-looking statements. Videolocity International, Inc.
cautions you that any forward-looking information provided by or on
behalf of Videolocity International, Inc. is not a guarantee of
future performance. None of the information in this press release
constitutes or is intended as an offer to sell securities or
investment advice of any kind. Videolocity International, Inc.'s
actual results may differ materially from those anticipated in such
forward-looking statements as a result of various important
factors, some of which are beyond Videolocity International, Inc.'s
control. In addition to those discussed in Videolocity
International, Inc.'s press releases, public filings, and
statements by Videolocity International, Inc.'s management,
including, but not limited to, Videolocity International, Inc.'s
estimate of the sufficiency of its existing capital resources,
Videolocity International, Inc.'s ability to raise additional
capital to fund future operations, Videolocity International,
Inc.'s ability to repay its existing indebtedness, the
uncertainties involved in estimating market opportunities, and in
identifying contracts which match Videolocity International, Inc.'s
capability to be awarded contracts. All such forward-looking
statements are current only as of the date on which such statements
were made. Videolocity International, Inc. does not undertake any
obligation to publicly update any forward-looking statement to
reflect events or circumstances after the date on which any such
statement is made or to reflect the occurrence of unanticipated
events.
CONTACT: For any investor relations matters, please contact
www.minamargroup.net/helpdesk, Investor Relations Department
Inquiry, www.minamargroup.net (IR); For (M&A) and Corporate
Matters, www.minamargroup.com
SOURCE Videolocity International, Inc.