AUSTIN, Texas, July 27, 2011 (GLOBE NEWSWIRE) -- eDoorways International Corporation (Pink Sheets:EDWY) announced today that the Company has begun the process for their first major acquisition, signing a Letter of Intent (LOI) to acquire Paddington Media of Austin Texas. Paddington Media, established in 2004, has been a leader in internet engineering and website infrastructure, two crucial components of the new eDoorways platform. "We have been working with the great team at Paddington Media for the past year and we've been blown away by their internet expertise," stated Gary Kimmons, CEO of eDoorways International Corporation. "Paddington Media has been generating revenue since the company's inception in 2004 as Paddington Web Design and all ventures thereafter leading to Paddington Media. We're very excited to add them to our eDoorways portfolio and have the technical expertise in-house to continue expanding our platform."
"As soon as eDoorways introduced their concept to us, we knew this was a project we wanted to fulfill," stated Michael Mendoza, CEO of Paddington Media. "We are retained by the company to expand their upcoming 2.0 platform and found synergy in working with Gary Kimmons and Ann Collins, combining our expertise with eDoorways' platform." For eDoorways, this acquisition means immediate revenue generation for the Company as well as access to some of the brightest internet engineers and technology currently available. The Company expects to release additional information about the deal in the coming weeks.
For more information on eDoorways International Corporation and/or the "eDoorways" (http://www.eDoorways.com) initiative, e-mail a package request to info@eDoorwaysCorp.com. Visit the corporate blog at (http://www.eDoorways.wordpress.com), or follow the company on Twitter (http://twitter.com/edoorways).
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Except for historical information contained herein, the statements in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in future periods to differ materially from forecast results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, risk inherent in the company's domestic and international operations, imprecision in estimating product reserves and the company's ability to replace and expand its holdings.