TEMECULA, Calif., Dec. 3, 2002 (PRIMEZONE) -- VentureNet Capital Group, Inc. (Pink Sheets:VNTN) today announced that it has acquired 100% ownership of Spa-Tacular Living located in San Diego, CA.
Spa-Tacular Living produces high quality hot tubs under the name of "Beach Bay Hot Tubs," and built to standards of each individual customer on a personalized basis. The hot tubs are sold directly to customers at half the cost of other brands. The hot tubs are produced in 3 models, with a standard version and a fully loaded version of each model. Spa-Tacular Living will be a division of VNTN and present management will remain to conduct day-to-day operations.
This acquisition furthers VNTN business model to acquire cash generating companies.
VentureNet Capital Group, Inc. specializes in providing financing and management expertise to private and public emerging growth companies demonstrating current revenues and a high growth potential.
FORWARD LOOKING STATEMENTS
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
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