Euroweb International Corp. Announces the Creation of a Diversified International Real Estate Development Group
January 04 2007 - 6:39PM
Business Wire
Today, Euroweb International Corp. (�Euroweb�, Nasdaq Capital
Market � EWEB), announced an exchange of shares in its subsidiary,
Emvelco RE Corp. (f/k/a Euroweb RE Corp.) (�ERC�) for all of the
shares of stock of Verge Living Corporation (�Verge�), the
resulting company is 43.33% owned by Euroweb and 57.67% owned by
Verge Living Corporation�s shareholders. �The combined resources of
these companies will result in an extraordinary synergy,� said
Yossi Attia, Chief Executive Officer of ERC and Darren Dunckel
President of Verge Living Corporation. �We are very excited about
this transaction.� The new company is a diversified international
real estate development group that owns property and is currently
developing single and multi family homes in the United States and
Eastern Europe. The company�s marquee project is the Verge mixed
use mid-rise building in downtown Las Vegas. This project includes
296 condominiums and 35,000 sq. ft. of commercial space utilizing
the companies patent pending structural design. This press release
contains forward-looking statements that involve risks and
uncertainties. The statements in this Release are forward-looking
statements that are made pursuant to safe harbor provision of the
Private Securities Litigation Reform Act of 1995. Actual results,
events and performance could vary materially from those
contemplated by these forward-looking statements. These statements
involve known and unknown risks and uncertainties, which may cause
EWEB Corp.�s actual results in future periods to differ materially
from results expressed or implied by forward-looking statements.
These risks and uncertainties include, among other things, product
demand and market competition. You should independently investigate
and fully understand all risks before making investment decisions.
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