VANCOUVER, British Columbia, March 2, 2005 (PRIMEZONE) -- Newmark Ventures, Inc. (OTCBB:NWMV) ("Company'), today announced management's decision to seek shareholder approval for a forward split of the Company's common shares on a three (3) new shares for every (2) shares owned as of the record date basis. Management has not yet determined a record date for effecting the forward split subject to shareholder approval.
Management believes that the current per share price level of our common stock has reduced the effective marketability of the shares and that a forward split might encourage potential new investors, increase the liquidity of the Company's common stock.
The Company's management has also decided not to proceed with the acquisition of X-Scape, Inc. ("X-Scape").
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.