Does this apply to smmw?
Podium Venture Group, Inc. Closes Acquisition of Minority Ownership (49%) of N'East Magazine
Podium Venture Group Inc. (PDVP), an apparel, media and publishing holding company in the lifestyle sports industry, announced today that it has acquired the minority ownership (49%) of N'East Magazine. The acquisition was executed with restricted stock leaving all cash on hand for other near-closing acquisitions.
"The closing of this acquisition, while obviously advantageous to the Podium dugout, is really just the precursor for what looks like to be a very exciting end of 2006 with our M&A strategies. With this acquisition closing more seamlessly than expected, the other previously announced acquisitions nearing execution, and the 25% stock dividend, it's no secret that we intend to enter 2007 with all cylinders firing," Jim McGinley, President & CEO, Podium Venture Group, Inc.
N'East Magazine (www.neastmag.com) can be found at Borders, Barnes & Noble, Eastern Mountain Sports, REI, Tower Records, Universal News, Shaws, B. Dalton, Hudson News, and independent bookstores and retailers nationally.
Podium Venture Group, Inc. is an apparel, media and publishing holding company in the lifestyle sports industry. The company intends to grow through strategic acquisitions and internal growth. The approximate share structure is: A/S 525,000,000, O/S 47,000,000, Float 8,000,000.
This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
Podium Venture Group, Inc.
Jim McGinley, 207-772-3202
www.podiumventuregroup.com
Source: Business Wire (December 22, 2006 - 11:54 AM EST)
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