VANCOUVER, British Columbia, Nov. 12, 2004 (PRIMEZONE) -- Newmark Ventures, Inc. (OTCBB:NMVN), today announced that management has completed negotiations to acquire X-Scape, Inc. ("X-Scape") an Arizona based company that provides e-Marketing services to the hospitality industry. Newmark's acquisition of X-Scape is subject to the receipt of X-Scape's audited financial statements, a consolidation of Newmark's common shares, the issuance of $450,000 worth of Newmark's common shares to the shareholders of X-Scape and the execution of a definitive share agreement.
About X-SCAPE
X-Scape offers critical e-Marketing solutions to the $120 billion U.S. hospitality industry. The company's core business is to provide hotels with an e-Marketing facility, serve as an online advertising medium, and function as a conduit for the direct distribution of hotel rooms and hotel services to online customers.
X-Scape provides a direct and inexpensive channel through its website www.usbesthotels.com, for bringing hotels and guests together on the internet. The current online market has made hotels dependent on internet search engines that are most often focused on competitive pricing rather than the overall appeal. Hotel revenues are stifled and complimentary hotel services that increase revenues are ignored. Online customers also suffer from being unable to deal directly with hospitality property owners. The use of internet search engines devoted to pricing and a variety of products rarely enable a prospective hotel guest to properly evaluate the merits of any given hotel before making a reservation.
X-Scape currently generates revenues from over 7,000 hotel listings and related advertising. The user selects a destination and views hotels based on hotel class and type. The user is then directed to a selection of hotel listings that match the user's choice which in turn link directly to each hotel's website. The hotel is then able to properly represent accommodations and services while the prospective guest is positioned on the internet to make an informed decision.
About Newmark Ventures, Inc.
Newmark Ventures, Inc. is a diversified holding company focused on creating a network of strategic business alliances and corporate partnerships in order to identify and capitalize on emerging market opportunities.
Cautionary Statement: This news release may include certain "Forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act, as amended. All statements, other than statements of historical fact, included in this release are forward-looking statements that involve various 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. All forward-looking statements in this release are expressly qualified by this notice.