MIAMI, July 6, 2004 (PRIMEZONE) -- Azur International, Inc. (Pink Sheets:AZRI), a luxury residential, hotel and resort development company, announced today its intent to make an application for listing to the American Stock Exchange (AMEX). In conjunction with the application, Azur intends to file a registration statement on Form 10 with the U.S. Securities and Exchange Commission to become fully reporting.
The decision was unanimously agreed upon by Azur's Board of Directors, following months of consistent, profitable growth within Azur International and its subsidiaries. The Company believes that an AMEX listing can provide increased visibility with institutional investors, as well as mainstream availability and access to US brokers and investors.
"The recent progress Azur has made in increasing its asset base has significantly repositioned our future growth potential," said Chairman/CEO Donald Goree. "In turn, this move will increase corporate exposure, Company liquidity and shareholder value," added Goree.
Azur's approach to developing its portfolio with elite properties, prime locations and strategic geographic positioning within high growth segments has been very successful for the Company.
About Azur International, Inc.
Azur International, Inc., based in Miami, Florida, is a publicly traded company that currently develops and markets luxury residential and resort properties. Additionally, it has several real estate projects under consideration, including the purchase and development of luxury hotels and resorts, domestically and internationally, and land purchases in strategic areas that can provide inventory for future development or sale. For additional information about Azur International, Inc, go to www.Azur-Int.com.
Safe Harbor
The Private Securities Litigation Reform Act of 1995 may provide a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of Azur International, Inc. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, and domestic and global economic conditions.