SOLANA BEACH, Calif., Dec. 4, 2003 (PRIMEZONE) -- PNG Ventures, Incorporated ("PNGV") (Pink Sheets:PNGV) has retained the Business Consulting Group Unlimited ("BCGU") as the chief merger & acquisition counsel for the Company.
PNGV President Alan Brown commented: "Our agreement with BCGU has been executed as a result of the Company's interest in adding shareholder value by entering into an agreement with a prospective merger candidate. Over the past several months, we have been approached by several qualified merger candidates. The members of the Board of Directors are of the opinion that the Company is ready to take some action in this regard."
Mark L. Baum, Chairman of BCGU added, "Over the past several years, BCGU has successfully assisted numerous companies like PNGV that were 'transaction-ready'." We are confident that given the interest we have been presented with, PNGV will find a suitable merger candidate. BCGU has been charged to present merger candidates, assist in the structure of a proposed transaction, complete and close any proposed transaction and to assist the Company, post-transaction, in becoming a fully reporting company under the Securities Act of 1933."
Mr. Brown continued, "BCGU is uniquely positioned as a consulting firm in that they have the expertise and experience to assist us in the financial evaluation of a prospective transaction; further, they can act as "hands-on" managers during and after the transaction is closed, helping to ensure that we are successful. We are excited about our relationship with BCGU and look forward to getting underway."
BCGU is an integrated group of independent financial and legal professionals who have joined forces in order to present MicroCap publicly trading companies with a "one-stop shop" for their respective "public company" needs. BCGU provides SEC and M&A advisory and legal counsel, financial and operational analysis services, financial accountancy services, shareholder communications technologies and services and EDGAR filing services. For additional information, please contact Jeff Dashefsky at (888) 772-1288 or visit the BCGU website at www.bcgu.com.
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Statements contained herein, other than historical data, may constitute forward-looking statements. When used in this document, the words "estimate," "project," "intends," "expects," "believes" and similar expressions are intended to identify forward-looking statements regarding events and financial trends which may affect the Company's future operating results and financial position. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the Company's actual results and financial position to differ materially from those included within the forward-looking statements. These risks and uncertainties include, but are not limited to, the Company's ability to successfully find a merger candidate, the Company's ability to ultimately generate meaningful revenues and achieve profitable operations; its ability to obtain necessary capital; and whether it can compete in a challenging marketplace.