TEMECULA, Calif., Jan. 14, 2003 (PRIMEZONE) -- VentureNet Capital Group, Inc. (Pink Sheets:VNTN) announced today that an agreement to allocate 96,000 gallons of culinary water per day to a bottling company was approved by the Heber city council on Thursday, November 21, 2002.
The agreement was with Life Force of which VentureNet Capital Group, Inc. will be a third equity owner.
The bottling facility would generate approximately 22 jobs when fully operational, which would include 2 shifts of 11 people.
The facility would like to begin operations in the spring, initially with one shift eventually moving to two shifts and full capacity.
The city council approved the agreement, hoping that the facility will help give the Heber City economy a slight boost.
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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