VANCOUVER, British Columbia, Dec. 10, 2004 (PRIMEZONE) -- Newmark Ventures, Inc. (OTCBB: NMVN)("Company"), today announced management's discontinuation of negotiations with Ivondi, Inc. ("Ivondi").
On August 31, 2004, the Company disclosed that it had entered into negotiations with the principals of Ivondi to consider the prospect of merging Ivondi's business operations with that of the Company. Ivondi's business was to provide a direct distribution channel for the hospitality industry through the Internet. The decision to discontinue negotiations was based on the information obtained as a result of the Company's due diligence inquiry.
The Company 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.