CAPE CANAVERAL, Fla., April 10, 2006 (PRIMEZONE) -- Marine Growth Ventures, Inc. ("MGV") today announced that the Securities and Exchange Commission ("SEC") declared its registration statement effective. MGV will now seek to have its shares quoted for trading on the OTC Bulletin Board.
"We are gratified to have our registration statement declared effective by the SEC," said Craig Hodgkins, President and CEO of MGV. "I am excited to lead MGV into the public world. My team and I are confident we will create tremendous shareholder value as we build our businesses."
MGV Chief Operating Officer Tim Levensaler stated: "MGV is focused on building successful marine businesses while respecting our oceans." MGV Chairman David M. Marks stated: "The clearance of the registration statement by the SEC is a milestone for MGV. We are now focused on having MGV's shares traded on the OTC Bulletin Board. We are confident that we will create tremendous shareholder value as we continue to build MGV's businesses."
MGV's counsel, Sichenzia Ross Friedman Ference LLP, ("SRFF") represented it in connection with the registration statement and related upcoming filings. Weinberg & Company, P.A., MGV's accountant, completed an SEC compliant audit of MGV.
About Marine Growth Ventures, Inc.:
MGV's mission is to find, develop, and place in service operating businesses related to our oceans. Our vision is to build successful businesses while respecting and protecting our most important environmental resource -- our oceans. MGV is uniquely positioned to find, analyze, and execute on marine related opportunities in transportation, freight, finance, brokerage, real estate, gaming, and entertainment.
Safe Harbor Statement Under the Private Securities Litigation Act of 1995 - With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company's operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rate and unanticipated events such as terrorist activities. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements. For further risk factors see the risk factors associated with our Company, review our SEC filings.