TEMECULA, Calif., Jan. 14, 2003 (PRIMEZONE) -- VentureNet Capital Group, Inc. (Pink Sheets:VNTN) today announced that KAWA Beverages is in the final stages of negotiating an agreement to manufacture and market its full line of KAWA juices.
KAWA's distributor has agreed to utilize part of its 25 million dollar line of credit to buy the ingredients and packaging materials to produce KAWA Beverages.
The Company currently has formulas to produce 12 different soft drinks. The soft drinks are best described by placing them in three categories, namely, (a) Flavored Lemonades, consisting of four different flavors, i.e., cherry, peach, strawberry and raspberry; (b) Flavored Iced Teas, consisting of four different flavors, i.e., peach, raspberry, lemon and apple; and (c) New Age Juices, consisting of Punch Paradise, Mango Calypso, Crazy Kiwi and Sports Drink.
Furthermore, KAWA's distributor has shelf space available in a variety of nationwide chain stores and beginning July 2003, KAWA Beverages will be available in Albertson's, Ralph, Safeway, Costco, Sam's, Price Club, Smart & Final, Rite Aids, Wal-Mart, Railey's, and 7-11 Conveniences stores.
In addition, KAWA will install its Morpak Systems production equipment at the distributors' location to better facilitate the manufacturing process and meet market demands.
VentureNet Capital Group, Inc. owns 75% of KAWA Beverages and 70% of Morpak Systems Technology and is actively seeking licensing opportunities of this patented process worldwide.
VentureNet Capital Group, Inc. specializes in providing financing and management expertise to private and public emerging growth companies demonstrating current revenues and a high growth potential.
FORWARD-LOOKING STATEMENTS
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
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