HANA, Hawaii, July 31, 2007 (PRIME NEWSWIRE) -- Maui General Store, Inc. (OTCBB:MAUG) announced today that its recently formed subsidiary has executed a joint venture agreement with a Vietnamese company to assist in arranging Initial Public Offerings and equity financing for selected companies. The companies being represented under this agreement each have yearly revenues over USD 100 million.
Asia Merger & Acquisition Corporation (AMAC) will represent the firms with our joint venture partner in negotiations with well known investment banks in the United States and abroad. AMAC shall receive fees/cash/stock of total transactions.
Confidentiality agreements with the joint venture partner and the subject firms, applicable quiet period regulations inter alia prohibit AMAC from disclosing the identities of the privately held firm(s) at this time. AMAC will inform shareholders when legally possible. Kindly note that these transactions are inter-country, consequently, we will comply with the securities regulations of both jurisdictions.
Mr. Richard Miller, CHB/CEO/PRES of Maui stated Tuesday; "AMAC is going to represent the Vietnamese firms during their transition to becoming publicly held companies. These firms will have decades of profitable expansion and are highly respected in their home country of Vietnam. Their business operations are vital to Vietnam's emerging economy and continued internal growth. We are honored to represent them at this important time in their corporate life. This event, coupled with the recent appointment of former Microsoft Vice President Rowland Hanson to our board will prove to be an historic month for our shareholders."
The statements made in this press release, which are not historical facts, contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.
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