TORONTO, Nov. 10, 2005 (PRIMEZONE) -- Ofek Capital Corp. (Pink Sheets:OFCC) announces that it has terminated its agreement to acquire 100% of DB Entertainment, as was announced October 17, 2005.
Ofek was unable to complete due diligence to its satisfaction and elected to terminate the agreement.
Management is committed to seek and acquire operating assets and establish Ofek as a management and holding company, pursuant to Ofek's new business mandate.
About Ofek Capital
Ofek (www.OfekCapital.com) is a management and holding company, operating through its subsidiaries.
-- Ofek has a significant interest in Kaptor Financial Inc., an
Ontario based financial services enterprise, providing merchant
banking and automotive financing.
-- Ofek is currently evaluating a number of acquisition prospects.
Ofek expects future acquisitions to enhance its balance sheet and
shareholders' value
This release contains forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, which reflect management's expectations regarding Ofek's future growth, results of operations, performance and business prospects and opportunities. These statements reflect management's current beliefs and are based on information currently available to management. Forward-looking statements involve significant risks, uncertainties and assumptions. A number of factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Ofek and its management take no obligation to update or correct any or such forward-looking statements.