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NEWS
Remington Ventures Secures Additional Financing
PR Newswire - November 03, 2006 16:00

NEW YORK, Nov 03, 2006 /PRNewswire-FirstCall via COMTEX/ -- Remington Ventures, Inc. (OTC Pink Sheets: RMVN) is pleased to announce that it has recently obtained some additional financing through a private placement with an investor group that has indicated an interest in investing up to one million dollars in the company. In fact, Remington has already finalized the first transaction and has received the first cash payment from this group in what is expected to be a series of transactions and payments over the upcoming months.

Remington's board of directors is very happy to apply a significant portion of the funds that it has already received from this group, and any additional funds that it may receive, towards its commitment to Quantum Bit Induction Technology, Inc. (OTC Pink Sheets: QBIT) and the Programmed Trading Project, the rights to which were purchased from QBIT by Remington in February, 1995.

"My confidence in the ability of Michael Skillern and his team at QBIT to achieve what we have collectively sought to achieve with the Programmed Trading Project remains very strong, and I am very happy that Remington is able to support that effort," said Michael Brown, President of Remington Ventures, Inc.

For more information on Remington Ventures, Inc. and its Programmed Trading Project, please visit the company's website at http://www.rmvn.net.

The statements in this press release are not forward-looking. Anyone interested in Remington Ventures, Inc.'s work with Quantum Bit Induction Technology, Inc. is encouraged to contact the office for adequate information with which to make an educated stock ownership decision. Remington Ventures, Inc. prefers that the uninformed NOT become shareholders, and discourages stock ownership by the under-educated or the under-informed.

Contact:
Michael Brown, President
Remington Ventures, Inc.
410 Park Avenue, 15th Floor
New York, New York 10022
Phone: [phone]
e-mail: [e-mail]


SOURCE Remington Ventures, Inc

Michael Brown, President, Remington Ventures, Inc., [phone] or
[e-mail]

http://www.rmvn.net/

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