Videolocity International, Inc. (VCTY) Introduces its India Merger Company
October 06 2010 - 6:45AM
Marketwired
Videolocity International, Inc. (PINK SHEETS: VCTY)
(http://www.videointernationalcorp.com) is pleased to provide the
name and a brief introduction of the company's new merger candidate
as mentioned in press release of Oct 1, 2010.
Avtar Singh Construction Co. (P) Ltd. (ASC, Ltd.) is a builder
and developer in Chandigarh, India. The company is one of the major
developers in the City of Chandigarh with strong ties to the local
community and the municipal governments. The company offers
revenues in the range of 5 million USD.
The company has a 20-year history of success, primarily in
highway, school and airport construction projects. Presently
placing a successful bid for the contract to complete 70% of the
new international airport slated to be constructed in the
Chandigarh City, representing a major project for the company. The
company engaged primarily in the industrial construction does not
have a web site presence. In concert with the anticipated merger
with VCTY ASC, Ltd. intends to build a simple web site to keep its
and VCTY shareholders advised of any updates not newsworthy.
VCTY management and its M&A firm have worked hard to secure
interest in this company, and to obtain permission for the
disclosure of the targeted company. Henceforth VCTY management
respectfully requests its shareholders and followers not to contact
any representatives of ASC, Ltd. until the transaction is
completed.
In other related news, Videolocity International, Inc. (VCTY),
following a successful closure of this and/or the China Hydro
merger, intends to undergo name change to better reflect the
company new core business.
The company will update the public on all developments regarding
these developments on a timely basis.
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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
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.
Contacts: Investor Relations: 1-647-426-1640;
www.minamargroup.net/helpdesk Investor Relations Department
Inquiry, www.minamargroup.net (IR), for (M&A) and Corporate
Matters, www.minamargroup.com Videolocity International Inc.:
corporate@videointernationalcorp.com
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