DOVER, Del., Oct. 28, 2009 (GLOBE NEWSWIRE) -- Home Shopping Latino Inc., www.vivatelecompras.com, a public Corporation (Pink Sheets:HSPG) ("the Company"), and a new Latino Shopping Network, the only network of its kind to service the exploding Latino market in the USA, the on air name ViVa Telecompras. VIVA will broadcast from uplink studios to a satellite headquartered in Miami Florida. Today announces an agreement with MadAmerican Exports, Inc. to import sapphires, rubies, emeralds, garnets, tourmaline and other precious gems from Madagascar, an Indian Ocean island nation off the coast of Africa, which is exceptionally rich in minerals and gemstones.
MadAmerican Exports CEO Biclair Andrianantoandro has previously served as Director of Exports and Ministry of Commerce, as well as Deputy and Acting Ambassador of Madagascar to the United Nations and Deputy and Acting Ambassador of Madagascar to the United States.
Home Shopping Latino CEO Frank Celecia said, "Mr. Andrianantoandro is well-known and well-respected by all political factions in Madagascar. He has held many official positions and assisted in the promotion of international investments in nickel and cobalt mining for Phelps Dodge Corporation and textile exports for Limited Brands, Inc. We view him as the ideal partner to forge long-term business relationships for Home Shopping Latino with both public and private decision-makers in Madagascar."
"Working with the new government as well as existing private interests, we are confident that we can assist Home Shopping Latino to create value for its shareholders and viewers by accessing high quality gemstones direct from the mines at an excellent price as well as creating new jobs and opportunities for the Malagasy people," said Mr. Andrianantoandro.
The Home Shopping Latino, Inc. (dba Viva Telecompras) logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6590
The information in this Press Release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will provide to be correct. Factors that could cause results to differ include, but are not limited to successful performances of internal plans, the impact of competitors, and general economic risks and uncertainties.