MIAMI, Jan. 9, 2006 (PRIMEZONE) -- Atlantis Business Development Corporation, Inc. (OTCBB:ABDE) announces today it has signed a Letter of Intent to acquire Venetian Systems Inc., a Wyoming corporation (www.venetiansystems.com). This acquisition is positioned for a spin-off after one fiscal year from the execution of the contract.
"This is one of many coming acquisitions for Atlantis in 2006," stated CEO Christopher M. Dubeau, "after the successful spin off of 727 Communications, Inc. and merger with Cor Equity Holdings, Inc. (OTCBB:CEQD). It is our goal to give value and dividends to our shareholders in the coming years."
About Venetian Systems, Inc.
Venetian Systems, Inc. is a Wyoming corporation driven by the vision of becoming the leader in providing outsourced services to industry in the world. This stature is based on the range of services we perform, and geographical infrastructure in maintenance and operations. Venetian Systems will become a leader in providing janitorial, parking, engineering, security, temporary staffing, lighting and mechanical services for thousands of commercial, government, industrial, institutional, and retail facilities in hundreds of cities across the United States, British Columbia, Canada and Europe.
About Atlantis Business Development
Atlantis BusinessDevelopment Corporation (ABDE) (www.atlantisbdc.com) is currently registered as a Business Development Corporation (BDC) in accordance and pursuant to Section 54 of the Investment Act of 1940. It seeks out Companies that are in their business development stage and invests in these Companies through various means. It also builds, creates and funds its own profitable companies in order to produce greater future value to its shareholders. The Investment Company Act of 1940 was passed to encourage investing in developing businesses. The Act provides simpler access to public funds for the purpose of business development, with emphasis on regulation of expenditures, rather than regulation of fund-raising. Under the Act, the majority of publicly raised funds pursuant to the Act must be employed in developing businesses.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this news release include certain predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the performance of joint venture partners, as well as other economic, competitive and technological factors involving the Company's operations, markets, services, products and prices. With respect to Atlantis Business Development Corp. (ABDE), except for the historical information contained herein, the matters discussed in this news release are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties include, but are not limited to, ABDE's extremely limited operating history, uncertainties related to the Company's access to additional capital, competition and dependence on key management.