PORTLAND, Maine, Mar 28, 2007 (BUSINESS WIRE) -- Management of Podium Venture Group, Inc., an apparel, media and publishing holding company in the lifestyle sports industry, confirmed that it has not raised the Company's number of authorized shares and currently does not forecast doing so. Management further verified that the number of common shares authorized is five hundred million.
"Even with our current M&A's under review, aggressive brand development, and operations - Podium Venture Group, Inc., intends to execute the model we have in place without the increase of authorized shares. Furthermore, it is our intention to build the company and its brands with organic methods such as the press released on March 27th 2007," Jim McGinley, President & CEO, Podium Venture Group, Inc.
On March 27th 2007 the Company announced it has initiated international market assessments for subsidiary N'East Magazine, citing the recent editorial placed on DRIFT, the U.K.'s premier on-line surfing magazine.
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. 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.
SOURCE: Podium Venture Group, Inc.
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