FT. LAUDERDALE, Fla., May 30, 2007 (PRIME NEWSWIRE) -- 247MGI, Inc. ("247MGI") (Pink Sheets:TOFS) announced today that it is entering into a Definitive Agreement with PurFusion Worldwide, Inc. (www.purfusion.com).
247MGI and PurFusion will be entering into the Definitive Agreement within the next week. The closing will take place once PurFusion has completed its audit, during the same time 247MGI shall work to complete its annual report and first quarter Q. 247MGI anticipates being able to file the delinquent reports and the 8k filing of the completed transaction with PurFusion by the end of June. PurFusion projects revenue of $1 million in 07, $5 million in 08 and $8 million in 09.
Once the transaction is complete Norman Farrar of PurFusion shall take over as the new President and CEO and will add additional members to the board. 247MGI shall also take steps to change the name of the company to PurFusion and seek a new symbol.
About PurFusion
PurFusion Worldwide, Inc. offers a diversified product line which targets small and medium-sized enterprises, associations, and the sports and entertainment industry. The unique ability to fuse technology, marketing and media gives their customers the competitive edge on the Internet. They strive to increase revenue, generate web traffic, and provide overall better branding while gathering relevant information for their customers.
This media release may contain forward-looking statements regarding but not limited to management, market potential, distributor success, market size, international sales, including statements regarding the intent, belief or current expectations of 247MGI Inc and uncertainties that could materially affect actual results. Investors should refer to documents that the Company intends to file with the SEC for a description of certain factors that could change actual results. Investors should refer to factors that could cause actual results to vary from current expectations and the forward-looking statements contained in this media release.