CLEVELAND, Oct. 7, 2009 (GLOBE NEWSWIRE) -- Nevada International Stock Exchange, Inc. (Pink Sheets:NVDS) (the "Company") is pleased to report that the Company has acquired all of the outstanding stock of SearchPath International, Inc. ("SPI") in exchange for 370,304,000 shares of Common Stock of the Company. In conjunction with Share Exchange Agreement and as detailed in the Company's initial disclosure statement filed with Pink Sheets on September 24, 2009, Tom Johnston, President of SearchPath International, was appointed Chairman and CEO of Nevada International Stock Exchange, Inc. The Company will undertake a name change in the future to more accurately reflect its current business operations.
SearchPath International, Inc., www.searchpath.com, is a Cleveland-based franchisor of talent acquisition professional services firms, with 73 franchises. SPI has rapidly built a high quality network of franchisees, despite competition from larger, more established firms. SPI believes that the pending retirement of hundreds of thousands of Baby Boomers resulting in vacant positions across all industries, paired with the rise in the number of college graduates in the U.S. seeking new positions, will open the door for high quality talent acquisition organizations to marry great talent with open positions and that this trend will continue to grow in the coming years.
"Achieving the milestone of becoming the search and recruiting industry's first publicly traded franchisor is a major advancement in our goal to differentiate our offering from our competition. Our business plan is centered on building a platform that will create a long term growth and wealth generation program for our owners, employees and shareholders. The ability to leverage our status as a publicly traded program will also help us to raise capital for growth and potential acquisitions. Our long term vision of creating an organization focused on quality, performance and a shared vision of teamwork and cooperation will be greatly enhanced by this movement to a publicly traded company," said Thomas K. Johnston, Chief Executive Officer of SearchPath International. "This is another significant step that we have taken to accelerate the growth of the Company."
About SearchPath International
SPI is a Cleveland-based talent acquisition professional services firm, which has opened more than 70 offices in its first 4 years. SPI was founded in September 2005, by Thomas K. Johnston, a nationally-recognized search consultant who specializes in the human capital, staffing, and employer services industries. SPI redefines the way clients do business with recruiters by combining proven industry best practices with revolutionary concepts. SPI's unique client-centric approach includes a variety of service options that enables SPI to stand alone against competition. In partnership with franchise owners, strategic partners, and its franchise support team, SPI's goal is to become the premier, vertically-integrated provider of talent acquisition professional services in the world. SPI can be found on the web at www.searchpath.com.
The SearchPath International logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6699
Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of1934. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of the Company and SPI set forth herein and those preceded by or that include the words "believes," "expects," "given," "targets," "intends," "anticipates," "plans," "projects," "forecasts," or similar expressions, are "forward-looking statements." Although the Company's management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties which could cause the Company's future results to differ materially from those anticipated. The Company assumes no obligation to update any of the information contained or referenced in this press release.