VANCOUVER, B.C., Jan. 20, 2004 (PRIMEZONE) -- Martin Tutschek, President of Delta Capital Technologies, Inc. (OTCBB:DCTN) reports that the company has obtained a financing commitment from Timber Trails, Inc. ("Timber") a Nevada Corporation. Timber has been in business since 1998 and is currently involved in a number of venture capital financings of up to $2 million USD. Timber has confirmed that Delta Capital Technologies, Inc. ("Delta") will be funded USD $1 million. The financing will be a non-dilutive debt financing and is expected to close by the end of February 2004.
Martin Tutschek, President of Delta, commented: "This financing will secure our interests in 24 Hour Emergency Glass Ltd ("24 Hour") and we are very excited about working with 24 Hour and its expansion into the Los Angeles market."
On November 20, 2003 Delta executed a Letter of Intent under which Delta has the right to acquire for $1,000,000 USD a 30% interest in 24 Hour Emergency Glass Ltd ("24 Hour") the pre-eminent glass provider for the bonded film and television industry in British Columbia.
24 Hour has been in operations since 1986 and its principle business began as simple windshield repairs and replacements for vehicles. Over time, the Company formed relationships with local producers and trades people in the film and television industry and began supplying and installing glass on production sets. The outstanding service and immediate response time to the needs of their customers solidified 24 Hour's position as the pre-eminent glass provider for the film and television industry in the Lower Mainland of British Columbia. Today, when glass is required on any production set, 24 Hour is the first choice for the local industry.
Vancouver is the second largest film production center in the world, trailing only Los Angeles. Production value in British Columbia is just over $1 billion per year, while Los Angeles production value exceeds $43 billion per year. The glass expense component for these markets are equal to CDN $3,000,000 and USD $130,000,000. Projected sales for the LA operation for Fiscal 2004 and 2005 combined are USD $25 Million. (see Note)
NEWMARK VENTURES, INC.
On December 19, 2003 the majority of the shareholders voted to change the corporate name of Delta to Newmark Ventures, Inc. It is anticipated that the amendments to Delta's articles of incorporation will become effective as soon as is practicable pursuant to SEC regulations and the requirements of the state of Delaware.
(Note) Data Sources: Statistical Abstract of the United States:2002; Standard and Poors Industry Surveys; U.S. Industry and Trade Outlook
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